BendDAO, the largest NFT lending protocol, has released its financial report for the last 12 months, revealing a strong performance in the highly competitive market. The company generated an annual interest revenue of 3,630.66 ETH, which is equivalent to approximately $6.78 million, and incurred an annual interest expense of 2,447.04 ETH, resulting in an operating income of 1,183.62 ETH or approximately $2.22 million.
Impressive Operating Income
BendDAO’s impressive operating income of $2.22 million for the last 12 months indicates the company’s ability to generate significant revenue in the NFT lending industry. The company’s utilization rate stands at 30%, with a total borrowing rate of 20,375 ETH, while offering a deposit APR of 6.82% and a borrow APR of $28.44%.
Solid Liquidity Position
BendDAO’s report also reveals a solid liquidity position of 67,624 ETH, which indicates that the company has the resources to pursue its expansion plans in the future. The company’s deposit and borrow APRs are competitive in the market, making it a desirable option for investors and stakeholders in the NFT lending industry.
Positive Future Outlook
BendDAO’s strong financial performance and solid liquidity position bode well for its future expansion plans. The company’s utilization rate suggests that there is still room for growth in the market, and the company is well-positioned to capitalize on this opportunity.
Investors and stakeholders in the NFT lending industry will likely take note of BendDAO’s impressive financial figures and may be more inclined to invest in the company given its solid financial footing. Overall, BendDAO’s report reveals a positive outlook for the company and the NFT lending industry as a whole.