How has the NFT lending protocol Blend, under Blur, performed in the first month?

How did Blend, under Blur, perform in the first month?

Encryption researcher anymose.eth | A new book has been published analyzing and interpreting the overall lending data of Blend, including NFT collection status, lending users and data, the impact of listings on the floor, and liquidation and health. The core data comes from the Dune dashboard created by The Block researcher beetle, and the data statistics do not include BlockingrasBlockingce.

According to Delphi Digital NFT researcher yh.ΞTH, Blend holds 77% of the entire lending market share, with a trading volume of 177,038 ETH, 22,720 lending transactions, 1,559 lenders, and 1,057 borrowers. It accounts for 52% of the total Blur transaction volume. In addition, Blend currently supports 13 NFT collections, with Bored Ape Yacht Club being the most commonly used collateral, with 3,839 tokens, followed by Azuki with 3,025 tokens. Currently, there are 1,946 active loans, with Azuki having the highest loan amount of 11,102 ETH and Milady Maker having the most loan transactions at 506.

As for lenders and borrowers, the top lender by amount is 0xcbb…4c82, lending a total of 1,577.2 ETH with 6,947.1 ETH still in the pool. The top lender by number of transactions is 0x8bc…d7be, with 242 transactions. The top borrower by loan amount is 0x2ca…6a71, with a total amount of 558.6 ETH, while the borrower with the most transactions is @CPOfficialtx, with 49 loans.

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Blend’s liquidation process involves lenders initiating repayment requests, to which borrowers must respond. This process is called refinancing, with Milady having 4,802 instances and a default rate of 1.43, Azuki having 3,400 instances and a default rate of 1.10, and DeGods having 1,505 instances and a default rate of 0.36. In terms of health, we use the loan-to-value ratio (loan amount divided by NFT price). CryptoPunks has the worst health, followed by Azuki, with 68% of LTVs below 20, indicating relatively good health.

Reference: https://twitter.com/anymose96/status/1663878705062776833

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