Thread by @0xMichaelRan

#BAYC floor pump to 75Eth today. Is the liquidation risk on @BendDAO mitigated? Short answer: Yes, at least until Sep 6th.

Today, the most "risky" Ape is at 1.15 health factor, which is pretty healthy. The floor would have to dip below 70E for it to be liquidated.

https://twitter.com/CirrusNFT/status/1560291009145102336

However, with the new changes on @BendDAO, threshold would change to 80% on Sep 6th. What does it mean? My calculation as such:

On Sep 6th, if floor price of #BAYC stays strong at 75Eth, nothing will happen!

If floor drops to 73Eth, Ape #7819, #7473, #8435 and #9667 will be...

would be forced to sell. One of the Ape has a rare
Vietnam Era Helmet opensea.io/assets/ethereu… So mark your calendar, you might get a cheap deal!

Let's continue. If however, floor drops to 70Eth again. There's gonna be another series of #BAYC liquidation on Sep 6th.

If #BAYC floor drops to 70Eth on or after Sep 6th, 12pm UTC, 19 Apes would be put on the shelf for @BendDAO auction. It would be similar to what happened on Aug 19th, except there won't be a start bid limit of 95%, and the auction only last 4 hours. God bless #BAYC!

Another thing to watch is #Ethereum's upgrade on Sep 10. If the network is congested for whatever reason during the merge, can the auction go wrong? Well, this is probably nothing, you never know when a black swan is coming, I just list out the possibilities.

Have fun!

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