BendDAO is a cutting-edge platform in the world of NFT lending. Initially, users could borrow up to 40% of their collateral, but due to a recent liquidation crisis, the community has come together to vote on lowering the liquidation threshold. This adjustment aims to streamline the process for exchanges and incentivize lenders to remain engaged by offering a higher interest rate. The protocol offers a range of features, including instant NFT-backed loans, Collateral Listing, and NFT Down Payment. Additionally, borrowers benefit from a 24-hour liquidation protection period, providing them with ample time to repay their loans.