70 BAYC are facing liquidation in BendDAO, and the health of 10 BAYC is less than 1.05

According to information from BendDAO, an NFT lending protocol, on March 13th, 70 BAYC tokens on the platform are at risk of liquidation, with 10 BAYC tokens currently having a health factor of less than 1.05 and another 14 BAYC tokens having a health factor of less than 1.10.

As of the time of writing, the floor price for BendDAO's BAYC series NFT is 14.32 ETH, which is 1.42 ETH higher than the floor price of Blur's BAYC series NFT on NFT trading platform.

Note: Bend protocol uses "health factor" to evaluate the current lending situation, which is a numerical representation of the safety of the collateralized NFT relative to the borrowed ETH and its underlying value. The higher the value, the safer the funding status and the more resistant to liquidation risk. When the floor price of the collateralized NFT asset falls, causing its corresponding loan health factor to fall below 1, anyone can trigger the liquidation of the NFT auction, and the 48-hour forced liquidation protection and NFT collateral auction will be launched simultaneously.

At the same time, Bend protocol uses NFT floor prices from OpenSea and LooksRare as feed price data for NFT collateral, and calculates the time-weighted average price (TWAP) of the floor price to avoid the impact of short-term NFT price fluctuations in the NFT market, thus ensuring the accuracy of the floor price.