BIP#12 Add Moonbirds as collateral

Summary

The purpose of this BIP is to add Moonbirds NFTs as collateral on BendDAO.

BACKGROUND

Moonbirds is a collection of 10,000 utility-enabled PFPs that feature a richly diverse and unique pool of rarity-powered traits. https://www.moonbirds.xyz/

30-day average floor price: 11.25 ETH No of owners: 6.6K Total volume on OpenSea: 170.4K ETH Deployed: 5 months

NEXT STEP

If the proposal passes the community voting.

Step one: To add the Moonbirds NFT as collateral first. Step two: To upgrade the lending pool contract to support Moonbirds in nesting.

Suggested risk parameters for Moonbirds: LTV / Collateral Ratio: 30%. Liquidation Threshold: 80%. Auction & Redeem Duration: 24 hours. Redeem Fine: maximum (5% of the debt, 0.2 ETH). Redeem Threshold: 50%.

SPECIFICATION

All veBEND holders are members of BendDAO.

Voting Quorum: 51M veBEND (20% of the total supply) Pass Rate: Over 80% Approve. The voting will last for 3 days.