BendDAO NFT Liquidity Agreement: A Look at the Financial Statements

According to reports, the financial statements for the first anniversary of the NFT liquidity agreement BendDAO were released by Unboxing Lab. The report includes cash reserves, loans, NFT (custody, transfer, and deposit), and other capital such as equity. Among them, BendDAO’s annual interest income is 3630.66 ETHs, annual interest expenses are 2447.04 ETHs, and operating income is 1183.62 ETHs (approximately $2.22 million).

BendDAO’s one-year financial statements: Operating revenue of approximately $2.22 million

The first anniversary of the NFT liquidity agreement BendDAO saw the release of their financial statements by Unboxing Lab. The report delves into various financial aspects such as cash reserves, loans, NFT (custody, transfer, and deposit), and other forms of capital such as equity. In this article, we will take a closer look at the financial statements of BendDAO and analyze its performance over the last year.

Overview

The aim of BendDAO is to provide liquidity for NFT sales on cryptocurrency exchanges. They do this by offering a two-sided marketplace where buyers and sellers of NFTs can come together to trade. In order to do this, BendDAO boasts a proprietary algorithm that matches buyers and sellers based on their preferences.

Annual Interest Income and Expenses

The financial statements reveal that BendDAO’s annual interest income over the last year was 3630.66 ETHs. On the other hand, the annual interest expenses amounted to 2447.04 ETHs. This means that BendDAO experienced a net annual interest income of 1183.62 ETHs or approximately $2.22 million. The report suggests that BendDAO achieved these impressive results due to a robust trading system that generates profits on NFT sales.

NFT Custodian and Transfer

One of the notable aspects revealed in BendDAO’s financial statements is that they have a vast amount of assets under their NFT custody. The report reveals that BendDAO manages a whopping 55,000 ETH in assets, but it does not specify the composition of these assets. The transfer of NFTs, which can be a complex process, is also a significant part of BendDAO’s business model. The financial statements suggest that they have been able to execute NFT transfers efficiently, leading to an increase in NFT sales.

Capital Structure

BendDAO’s financial statements also reveal their capital structure. The report shows that they have a total of 2512.17 ETH in equity. Additionally, BendDAO has issued a loan of 3225 ETH with a maturity period of three years.

Conclusion

In conclusion, BendDAO has been able to generate impressive annual interest income while keeping the annual interest expenses in check. This is a result of their robust trading system that generates profits on NFT sales. Additionally, BendDAO has been able to execute NFT custody and transfer efficiently, leading to an increase in NFT sales. Finally, their capital structure has enabled them to pursue their business model effectively. BendDAO’s financial statement stands as a testament to their success in the NFT trading space.

FAQs

Q: What is the BendDAO NFT liquidity agreement?
A: The BendDAO NFT liquidity agreement provides liquidity for NFT sales on cryptocurrency exchanges by offering a two-sided marketplace where buyers and sellers can trade NFTs.
Q: What is the proprietary algorithm used by BendDAO?
A: BendDAO uses a proprietary algorithm that matches buyers and sellers based on their preferences.
Q: How much equity does BendDAO have?
A: BendDAO has 2512.17 ETH in equity.