BIP#59: Lower the LTV (Collateral Ratio) of Pudgy Penguins, BAYC, and CryptoPunks

This BIP proposes adjusting the LTV of NFT collections based on market conditions, including Pudgy Penguins, BAYC, and CryptoPunks.

New Proposed LTV:

Pudgy Penguins: 50% BAYC: 50% CryptoPunks: 50%

Considering the performance of NFT collections 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 46M veBEND (10% of the total supply)

Pass Rate: Over 70% approval

The voting will last for 3 days.