BIP#56: Adjust Yuga NFTs’ LTV (Collateral Ratio)

This BIP is proposed to adjust YUGA NFTs, including BAYC, MAYC, and Koda, LTV based on market conditions.

New Proposed LTV

BAYC: from 70% to 50%

MAYC & Koda: from 50% to 30%

The LTVs will be reviewed weekly and may increase by 5%, contingent upon market conditions. Considering the performance of blue-chip assets over the past month, adjusting the LTV would enhance protocol risk management. The primary goal is to ensure the protocol remains aligned with current market conditions.

Voting Quorum: Approximately 54M veBEND (10% of the total supply)

Pass Rate: Over 70% Approve.

The voting will last for 3 days.