The fourth phase of BakerySwap’s BRC20 project, the NFT lending liquidity protocol BendDAO (BDIN), is scheduled to begin on January 4, 2024. The protocol will only allow BAKE and 1CAT participation, with a fixed development value (FDV) of $500,000.
On the decentralised finance (DeFi) platform BakerySwap, users can exchange, stake, and profit from tokens via several liquidity pools. The goal of introducing BendDAO is to increase the platform’s functionality and give users more chances to participate in NFT lending and borrowing.
For BakerySwap, the impending launch of BendDAO represents a critical turning point in the development and growth of its ecosystem. The platform’s emphasis on NFT borrowing and lending shows how dedicated it is to remaining at the forefront of the ever changing DeFi market.