Testnet Guide — Bend

Introduction

Bend (Twitter : https://twitter.com/BendDAO) is a NFT-backed borrowing and lending protocol where users can participate as depositors or borrowers. Depositors provide ETH liquidity to the lending pool to earn interest, while borrowers are able to borrow ETH through lending pool using NFTs as collateral instantly.

Rules

Bend is airdropping 50,000,000 $BEND (5% of the BEND total supply) to the whole NFT community. Read here for details.

Specifically, a part of the airdrop will go to 100 boundNFT OG. Testers who try the Instant NFT-backed Loan on Bend testnet will get the OG role on Discord. The boundNFT OG role will be closed at March 21st, 8am UTC.

Guide

Getting Started:

Connect to Ethereum Rinkeby testnet from your wallet and get your testnet ETH from any of the faucets below.

Step 1:

Go to https://www.benddao.xyz/app/dashboard and connect your wallet. Then click on “Go to NFT Faucet”.

Step 2:

Now choose a NFT collection from the drop-down menu.

Here you will have to find a Token ID that hasn’t been minted. Just enter random 4-digit number until it works.

If you chose a minted Token ID, you will see this. Continue trying until you successfully mint a NFT.

Step 3:

Go to “Borrow”. You will see your freshly minted NFT. Borrow some ETH using the NFT as a collateral.

Step 4:

Now join the Bend Discord. Verify and join the server first.

Then go to #collabland-join and verify your wallet.

After that, you will get the boundNFT OG role.

Step 5:

Finally complete the tasks at https://giv.gg/r/Ox1XY6-BzUim4 to enter the lottery for 100 airdrop spots. That’s it.

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