BIP#47: Add Pudgy Penguins as collateral

Summary

With the Pudgy Penguins' floor price breaking through 10 ETH, this BIP is proposed to initial snapshot to add Pudgy Penguins as collateral on BendDAO.

Risk Parameters

Should the community pass this proposal, Pudgy Penguins will be accepted as NFT collateral for BendDAO, with the following parameters set:

• LTV/ Collateral Ratio: 50%
• Liquidation Threshold: 80%
• Auction & Redeem Duration: 24 hours
• Redeem Fine: maximum (5% of the debt, 0.2 ETH)
• Redeem Threshold: 50%

Background

As per the community governance rules:

• Phase 1: Idea or Draft
  • Approved
  • Discord Idea: https://discord.com/channels/897709643948761148/1181568028140371978
• Phase 2: BIP
  • Passed
  • Forum link: https://governance.benddao.xyz/t/bip-47-add-pudgy-penguins-as-collateral/627
• Phase 3: On-chain voting
  • Voting Quorum: Approximately 41M veBEND
  • Pass Rate: Over 70% Approve.
  • The voting will last for 3 days.