BIP#65: Funding for the Further Development of BendDAO V2

Overview

The BendDAO V2 protocol has completed security audits and has been deployed on the Mainnet, the product has been officially released. V2 provided enhanced features to the BendDAO Protocol based on community feedback, solving limitations in V1 while pushing important new features to the forefront of the protocol and contributing to the overall success and strength of the BendDAO ecosystem. Some of the important new features include:

• Cross Margin Lending
• Isolated Margin Lending
• Leverage Staking & Restaking
• Custom Pools for Partners

Summary

The proposal seeks approval for a budget to cover development costs for new features associated with BendDAO V2, including:

• Integrating with Third-party Protocols (Staking & Restaking).
• PayFi, Integrating with Virtual Card Partners.
• Fund Manage, Yield Vault with V1 & V2 Lending.
• P2P NFT Lending.
• Stable Coin Solution.

BendDAO Treasury allocates $200,000 to support the development of subsequent enhancements to V2 and protocol operations. Proposed Budget The estimated budget is $200,000. This budget covers:

• Staff Salaries. E.g. Smart contracts, Front-end and Back-end development.
• Protocols Operation Cost for V1 & V2. E.g. NFT Oracle gas cost.
• Marketing Activities.

Voting

Voting Quorum: Approximately 35.8M veBEND (10% of the total supply). Pass Rate: Over 70% approval. The voting will last for 7 days.

Background

According to BIP#54 (https://snapshot.org/#/benddao.eth/proposal/0x4175c65f83245627b05f80b1a5d57bc7018aea34c062ebccda06105ad49714ed) and the meeting minutes (https://governance.benddao.xyz/t/meeting-minutes-on-bip-54-implementation-plan/677), the ETH development team received a grant of $300,000 in the first half of 2024 for the development of the V2 protocol and the daily operations of V1.