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Bank Run at NFT Lender BendDAO Prompts Attempt to Avert Another Liquidity Crisis

Faulty auction mechanics highlighted the downside of letting people borrow money against their Bored Apes.

A Bored Ape owner searches for upside without risking auction liquidation. (Danny Nelson/CoinDesk)
A Bored Ape owner searches for upside without risking auction liquidation. (Danny Nelson/CoinDesk)