Bend is a decentralized peer-to-pool based NFT liquidity protocol. Depositors provide ETH liquidity to the lending pool to earn interest, while borrowers are able to borrow ETH through the lending pool using NFTs as collateral instantly. Bend protocol enables NFT assets to be pooled and converted into representing ERC721 boundNFTs to realize NFT loans.

Borrowers (NFT holders) will bundle NFT into one separate token (boundNFT) through Bend Protocol in order to function as a single unit of collateral. Details of the Collateral Ratio.

Details are listed as follows: 

• Initiate an instant NFT loan contract to borrow ETH from the pool 
• Maintain NFT collateral ratio by repay ETH anytime 
• Get back the NFT when pay off the NFT loan.