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README.md

@@ -1,48 +1,40 @@
 # Introducing BendDAO
 
-BendDAO is the first 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.
+BendDAO is the best NFT liquidity protocol supporting **instant NFT-backed loans**, **leveraged NFT trading**, and **NFT down payment.** The seamless experience of down payment, borrowing, and selling creates a perfect closed loop for users, a one-stop NFT liquidity solution.
 
-Bend protocol enables NFT assets to be pooled and converted into representing ERC721 boundNFTs to realize NFT loans.
+## Best Liquidity
 
-## NFT as Collaterals to Borrow ETH
+This is how bluechip NFT holders are able to get the best liquidity on BendDAO.
 
-**Borrowers (NFT holders)** will bundle NFT into one separate token (boundNFT) through BendDAO Protocol in order to function as a single unit of collateral. Details of the [Collateral Ratio](risk/nft-risk-parameters.md).
+### Instant NFT-backed Loan
 
-Details are listed as follows:
+BendDAO is the first decentralized peer-to-pool based NFT liquidity protocol. NFT holders are able to borrow ETH through the lending pool using NFTs as collateral instantly, while depositors provide ETH liquidity to earn interest. The leveraged NFT trading is built on instant NFT-backed loans.
 
-* Initiate an instant NFT loan contract to borrow ETH from the pool
-* Maintain NFT collateral ratio by repaying ETH anytime
-* Get back the NFT when paying off the NFT loan
+### Listing by Borrowers
 
-## Deposit ETH to Earn Yields
+Borrowers can list mortgaged NFTs directly on the BendDAO marketplace. The balance after deducting debt with interests will be transferred to the borrower (seller) after the deal. 
 
-**Depositors/ lenders** will be able to
+### Equity Cash-Out Listing 
 
-* Deposit/withdraw ETH to the reserve pools
-* Earn yields by providing liquidity
+NFT holders/sellers can choose to instantly get up to 40% of the floor value of the listing before it even sells. The instant liquidity is actually provided by the instant NFT-backed loan. The buyer will pay off the loan including interests after the deal. 
 
-## From the NFT holder's point of view
+## NFT Down Payment
 
-#### A 48-hour liquidation protection period
+The buyer may pay a minimum down payment of 60%, depending on the actual price, to buy a bluechip NFT from major NFT marketplaces while initiating a flash loan from AAVE to cover the remainder. The borrowed amount of the flash loan will be repaid through the instant NFT-backed loan on BendDAO.
 
-In order to avoid losses caused by the market fluctuations, the borrower will have a 48-hour liquidation protection period to repay the loan.
+The buyers will automatically become borrowers with the down payment. And borrowers can list their mortgaged NFT for sale on the BendDAO marketplace as well.
 
-#### Same airdrop right for borrowers
+## For NFT Communities
 
-Borrowers will be eligible for all related NFT holder airdrops. BendDAO will collect and distribute the airdrops to boundNFT holders when their NFTs are in the collateral pool.
+### A 48-hour liquidation protection  
 
-Furthermore, borrowers can claim NFT rewards on other protocols while having NFTs still in a collateral pool with the Flashloan feature.
+In order to avoid losses caused by the market fluctuations, the borrower will have a 48-hour liquidation protection period to repay the loan. 
 
-#### Never be stolen
+### Same airdrop right for borrowers 
 
-NFTs will be converted into representing ERC721 boundNFTs through instant NFT loans. boundNFT is untransferable avoiding the risk of theft. On the other side, boundNFT has the same **digital self-expression** which can be used on Web2 social media platforms that support the NFT avatar.
+Borrowers will be eligible for all related NFT holder airdrops. BendDAO will collect and distribute the airdrops to boundNFT holders when their NFTs are in the collateral pool. Furthermore, borrowers can claim NFT rewards on other protocols while having NFTs still in a collateral pool with the Flashloan feature. 
 
-## From the ETH lender's point of view
+### Never be stolen 
 
-#### Never goes bankrupt
+NFTs will be converted into representing ERC721 boundNFTs through instant NFT loans. boundNFT is untransferable avoiding the risk of theft. On the other side, boundNFT has the same digital self-expression which can be used on Web2 social media platforms that support the NFT avatar.
 
-The borrower's NFT collateral is locked on the platform. After the total debt exceeds the value of the collateral, the collateral is liquidated through auction, and the auction price cannot be lower than the total debt. So the lender's principal will not be lost.
-
-{% hint style="info" %}
-This Portal links to the key resources on BendDAO to understand the fundamentals of the Protocol. Please join the discussion on BendDAO community Discord server; our team and members of the community look forward to helping you build on top of BendDAO.
-{% endhint %}

SUMMARY.md

@@ -2,18 +2,22 @@
 
 * [Introducing BendDAO](README.md)
 * [Discord](https://discord.gg/benddao)
-* [Airdrop](airdrop.md)
+* [Roadmap](roadmap.md)
 
 ## FAQ
 
 * [Security FAQ](faq/security-faq.md)
+* [Marketplace FAQ](faq/marketplace-faq.md)
+* [Down Payment FAQ](faq/down-payment-faq.md)
+* [Equity Cash-out Listing FAQ](faq/equity-cash-out-listing-faq.md)
 * [Flash Claim FAQ](faq/flash-claim-faq.md)
 * [Liquidation FAQ](faq/liquidation.md)
-* [Tokenomics FAQ](faq/tokenomics.md)
 * [Fair-launch FAQ](faq/initial-fair-launch-offering-ifo.md)
+* [Tokenomics FAQ](faq/tokenomics.md)
 
 ## Highlights
 
+* [Leveraged NFT Trading](highlights/leveraged-nft-trading.md)
 * [Instant Lending and Repayments](highlights/instant-lending-and-repayments.md)
 * [48h Liquidation Protection](highlights/48h-liquidation-protection.md)
 * [True Ownership](highlights/true-ownership.md)
@@ -28,16 +32,21 @@
 * [Flash Claim](user-guides/flashclaim.md)
 * [Uniswap v2 LP Liquidity Mining](user-guides/uniswap-v2-lp-liquidity-mining.md)
 
-## Protocol overview
+## Lending Protocol
+
+* [bendETH](lending-protocol/bendeth.md)
+* [boundNFT](lending-protocol/boundnft.md)
+* [Interest Model](lending-protocol/interest-model.md)
+* [bendETH Valuation](lending-protocol/bendeth-valuation.md)
+* [Oracle Price Feeding](lending-protocol/oracle-price-feeding.md)
+* [Liquidation and Redeem](lending-protocol/liquidation-and-redeem.md)
+* [Auction](lending-protocol/auction.md)
+
+## Marketplace
 
-* [bendETH](protocol-overview/bendeth.md)
-* [boundNFT](protocol-overview/boundnft.md)
-* [Interest Model](protocol-overview/interest-model.md)
-* [bendETH Valuation](protocol-overview/bendeth-valuation.md)
-* [Oracle Price Feeding](protocol-overview/oracle-price-feeding.md)
-* [Liquidation and Redeem](protocol-overview/liquidation-and-redeem.md)
-* [Auction](protocol-overview/auction.md)
-* [Roadmap](protocol-overview/roadmap.md)
+* [NFT Down Payment (Buyer)](marketplace/nft-down-payment-buyer.md)
+* [Equity Cash-out Listing (Seller)](marketplace/equity-cash-out-listing-seller.md)
+* [Royalties on secondary sales (Creator)](marketplace/royalties-on-secondary-sales-creator.md)
 
 ## Governance
 
@@ -66,5 +75,6 @@
 ## Resources
 
 * [Github](https://github.com/BendDAO)
+* [Airdrop](resources/airdrop.md)
 * [Social Media](resources/social-media.md)
 * [TERMS OF SERVICE](resources/terms-of-service.md)

faq/down-payment-faq.md

@@ -0,0 +1,40 @@
+# Down Payment FAQ
+
+## How to decide the percentage of the down payment? 
+
+Down Payment = Total price - 40%/30% of the Floor Price
+
+| Collection                                                     | LTV                    | Down Payment |
+| -------------------------------------------------------------- | ---------------------- | ------------ |
+| <p>BAYC<br>CryptoPunks</p>                                     | 40% of the floor price | 60% or more  |
+| <p>MAYC<br>Doodles &#x26; Space Doodles<br>CloneX<br>Azuki</p> | 30% of the floor price | 70% or more  |
+
+If the total price of the NFT is much higher than the collection floor price, the percentage of the down payment will increase.
+
+## What are the details of **payment installments?**
+
+**No payment installment.** You take an NFT-backed loan and then become a borrower on BendDAO. You can repay any time you like. There is no fixed time period to pay back the loan. But you do need to keep an eye on the loan health factor to avoid liquidation. As time passes, the accrued interest will grow making the health factor decrease, which might result in more likely to be liquidated.
+
+{% content-ref url="liquidation.md" %}
+[liquidation.md](liquidation.md)
+{% endcontent-ref %}
+
+## Which collections are supported with a down payment?
+
+BAYC, CryptoPunks, MAYC, Doodles, Space Doodles, CloneX and Azuki
+
+## What will be in my wallet after the down payment?
+
+The boundNFT will be in your wallet since the original NFT is used as collateral.
+
+{% content-ref url="../lending-protocol/boundnft.md" %}
+[boundnft.md](../lending-protocol/boundnft.md)
+{% endcontent-ref %}
+
+## How can I get my mortgaged NFT back?
+
+You will receive the NFT when you pay off the loan.&#x20;
+
+## Which marketplace is supported?
+
+BendDAO, OpenSea, Looksrare and X2Y2.

faq/equity-cash-out-listing-faq.md

@@ -0,0 +1,34 @@
+# Equity Cash-out Listing FAQ
+
+## Why this feature is designed?
+
+This functionality is designed to provide better liquidity for sellers. Sellers can cash out while waiting for the deal. The cash-out can be considered as the upfront payment from the future buyer.  
+
+## What happens when I choose the Equity Cash-out listing?
+
+You can instantly get 40% of the floor price of your listing before it even sells. Meanwhile, your NFT is deposited as collateral in the pool. The upfront payment is actually provided by the instant NFT-backed loan.
+
+## Do I need to pay the loan interest after the Equity Cash-out listing?
+
+When the deal is done, the buyer will pay off the loan including interests after the deal. 
+
+_The amount Seller will receive = Total price - debt with interests_
+
+## Can I cancel my Equity Cash-out listing?
+
+Yes, you can delist anytime you like. But once you choose the Equity Cash-out listing, you are also a borrower on BendDAO. If you want to redeem the NFT, you need to pay off the loan.
+
+## Can I list again after the delisting?
+
+Yes, you can list again anytime you like. But the Equity Cash-out listing is not an option for the same NFT anymore, since you already used the NFT as collateral. 
+
+## What if no one buys my NFT after the Equity Cash-out listing?
+
+Liquidation may happen. Since you actually take a loan when you listing_. Y_ou should keep an eye on the health factor of the loan. As time passes, the accrued interest will grow making the health factor decrease, which might result in 48h liquidation protection.
+
+{% content-ref url="liquidation.md" %}
+[liquidation.md](liquidation.md)
+{% endcontent-ref %}
+
+##
+

faq/flash-claim-faq.md

@@ -4,21 +4,23 @@
 
 A: Flash Claim feature is designed for this scenario. Find the “Flash Claim” on the Dashboard, and borrowers can claim related airdrops. [https://www.benddao.xyz/app/flash-claim](https://www.benddao.xyz/app/flash-claim)
 
-## Q: How can Bend know whether I’m eligible for the airdrop? 
+## Q: How can BendDAO know whether I’m eligible for the airdrop? 
 
 A: Airdrops can be claimed if you’re holding related boundNFTs. All borrowers receive boundNFTs when they successfully deposit NFTs in Bend.
 
+ [boundnft.md](../lending-protocol/boundnft.md "mention")
+
 ## Q: What kind of airdrop will be supported? 
 
 A: Flash Claim supports 2 kinds of airdrops. 1) The project airdrops to holders’ addresses directly including contract addresses; 2) The airdrops need to be claimed by holders (no restriction of contract addresses). More details: [https://docs.benddao.xyz/portal/user-guides/flashclaim](https://docs.benddao.xyz/portal/user-guides/flashclaim)
 
-## Q: If the project airdrops to holders’ addresses directly, how can Bend know which airdropped token belongs to which borrower? 
+## Q: If the project airdrops to holders’ addresses directly, how can BendDAO know which airdropped token belongs to which borrower? 
 
-A: Bend DAO follows the airdrop rules set by the project. Both specific and random airdrops can be supported.
+A: BendDAO follows the airdrop rules set by the project. Both specific and random airdrops can be supported.
 
-## Q: If it’s a random airdrop, how does Bend DAO distribute airdrops? 
+## Q: If it’s a random airdrop, how does BendDAO distribute airdrops? 
 
-A: The distribution process on Bend is also random. For fairness and safety, Bend random algorithm which is based on [Chainlink VRF infrastructure](https://vrf.chain.link/mainnet) to distribute tokens. 
+A: The distribution process on BendDAO is also random. For fairness and safety, BendDAO random algorithm is based on [Chainlink VRF infrastructure](https://vrf.chain.link/mainnet) to distribute tokens. 
 
 The VRF subscription id is on Chainlink: [81](https://vrf.chain.link/mainnet/81).
 
@@ -28,11 +30,17 @@ The contract address on[ ](https://etherscan.io/address/0x6D187449A5664DD87E58A9
 
 ## Q: What if I miss the claim period? 
 
-A: You can always Flash Claim airdrops on Bend. Your airdrop never expires.
+A: You can always Flash Claim airdrops on BendDAO if the project airdrops to holders’ addresses directly including contract addresses. Your airdrop never expires.
+
+If the airdrops need to be claimed by holders (no restriction of contract addresses), the expiration date is decided by the project instead of BendDAO.
 
 ## Q: Can I Flash Claim if I have no knowledge of programming? 
 
-A: You can simply click the Flash Claim button to claim your airdrops. There are no programming requirements.
+A: Yes, you can. There are no programming requirements. 
+
+You need to click the "Deploy Airdrop Receiver Contract" for the first Flash Claim. It's needed only once. 
+
+![](<../.gitbook/assets/image (4).png>)
 
 ## Q: What is boundNFT?&#x20;
 
@@ -48,8 +56,8 @@ A: Yes. Visit BoundNFT Github to find more details. https://github.com/BoundNFT/
 
 A: Yes. Users also can write a contract to implement the Flash Claim. Please check the demo on Github. https://github.com/BendDAO/bend-flashclaim-demo
 
-## Q: What kind of airdrops will be supported on Bend?&#x20;
+## Q: What kind of airdrops will be supported on BendDAO?&#x20;
 
-A: Yuga Metaverse Land, of course. Technically, all airdrops that are related to the collaterals can be supported. Bend supported collaterals are BAYC, CryptoPunks, MAYC, Azuki, CloneX, and Doodles.
+A: Technically, all airdrops that are related to the collaterals can be supported. BendDAO-supported collaterals are BAYC, CryptoPunks, MAYC, Azuki, CloneX, and Doodles.
 
 Feel free to find the team in Discord if you want us to support other great airdrops.

faq/liquidation.md

@@ -2,9 +2,9 @@
 
 ## An example of liquidation
 
-Assuming that the floor price of BAYC is 100 ETH when you borrow 40 ETH instantly in Bend DAO.
+Assuming that the floor price of BAYC is 100 ETH when you borrow 40 ETH instantly on BendDAO.
 
-If the floor price drops to 44 ETH, the 48h liquidation protection will be triggered since the health factor of your NFT-backed loan is below 1.
+If the floor price drops to 44 ETH, the 48h liquidation protection can be triggered since the health factor of your NFT-backed loan is below 1.
 
 Health Factor = (44 \* 90%) / (40 + interests) <1&#x20;
 
@@ -40,7 +40,7 @@ More details of [48h Liquidation Protection](../highlights/48h-liquidation-prote
 
 ## **What will happen if liquidation occurs?**
 
-When the 'health factor' of an NFT loan is below 1, a bidder can trigger a liquidation in terms of an [**NFT Auction**](../protocol-overview/auction.md) **** and the 48h liquidation protection**.**&#x20;
+When the 'health factor' of an NFT loan is below 1, a bidder can trigger a liquidation in terms of an [**NFT Auction**](../lending-protocol/auction.md) **** and the 48h liquidation protection**.**&#x20;
 
 The borrower (user with the collateralized NFT) will be able to repay the loan within the 48-hour window.
 
@@ -88,3 +88,7 @@ No. There is no royalty for the auction on BendDAO.
 
 There will be a "Liquidate" button on the auction page for the highest bidder after the auction. The liquidated NFT will be transferred to your wallet after you click the button.
 
+## If I use batch borrow, how many loans will be created?
+
+One NFT one loan. Each loan has its own health factor.
+

faq/marketplace-faq.md

@@ -0,0 +1,35 @@
+# Marketplace FAQ
+
+## What's the Difference Between WETH and ETH?
+
+Ether, more commonly known as ETH, is the native currency of the Ethereum blockchain. ETH is used for things such as paying for the transaction fees on Ethereum to incentivise miners.
+
+WETH is Wrapped Ether. WETH is an ERC-20 compatible version of ETH. 1 ETH will always be equivalent to 1 WETH. ETH on its own cannot be pre-approved (no approval) for bidding on items. That's why it needs to be wrapped.
+
+Once ETH is wrapped into WETH, it can be used for advanced interactions on decentralized applications like BendDAO lending and exchange.
+
+## What currencies are supported on BendDAO?
+
+BendDAO supports both ETH and WETH. Some features are quite complex and require WETH to be able to make the interaction.
+
+**You can use ETH on the following features:**
+
+Buying an NFT for a fixed price.
+
+**You can use WETH on the following features:**
+
+Buying an NFT for a fixed price.
+
+Making an offer on an NFT.
+
+## What are the fees on BendDAO?
+
+Trading fee: 2% of the sale price;
+
+Royalty fee: 0\~10% of the sale price, paid to collection creator;
+
+Flash loan fee: 0.09% of the borrowed debt, paid to DeFi protocol, etc. AAVE.
+
+## Is there any real-life analogy? 
+
+The housing market can be a good real-world analogy to this leveraged bluechip NFT trading platform. You can buy a house with a down payment and pay interest on the loan. You also can sell the house even if your loan is not paid off.

highlights/fair-launch.md

@@ -31,7 +31,7 @@ All the funds obtained through the Initial Fair-launch Offering will be used for
 
 ## Release Schedule
 
-### [Airdrop](../airdrop.md)
+### [Airdrop](../resources/airdrop.md)
 
 ### IFO (F for Fair Launch)
 

highlights/instant-lending-and-repayments.md

@@ -10,7 +10,7 @@ description: Borrow and repay ETH anytime
 
 No matching time.
 
-A trustless liquidity solution for NFT holders. Deposit your NFT as collateral for you to be able to borrow Ethereum. Deposited NFTs will be put into an NFT pool and converted into [boundNFTs](../protocol-overview/boundnft.md).
+A trustless liquidity solution for NFT holders. Deposit your NFT as collateral for you to be able to borrow Ethereum. Deposited NFTs will be put into an NFT pool and converted into [boundNFTs](../lending-protocol/boundnft.md).
 
 ## Which NFTs can be used as collaterals?
 

highlights/leveraged-nft-trading.md

@@ -0,0 +1,23 @@
+# Leveraged NFT Trading
+
+Based on the [instant NFT-backed loan](instant-lending-and-repayments.md), leverage trading becomes possible for NFT players. 
+
+## From sells' perspective
+
+### Listing by borrowers 
+
+Borrowers can list mortgaged NFTs directly instead of repaying the loan to list for sale. 
+
+### Equity Cash-out Listing
+
+NFT holders/sellers can choose to receive up to 40% of the floor price instantly when listing. The upfront payment is actually provided by the instant NFT-backed loan. The buyer will pay off the loan after the deal. Listing by borrowers Borrowers can list mortgaged NFTs directly instead of repaying the loan to list for sale.
+
+## From buyers' perspective
+
+### NFT Down Payment
+
+The buyer can pay **a minimum down payment of 60%**, depending on the actual price, to buy a bluechip NFT while initiating a flash loan from AAVE to cover the remainder. The borrowed amount of the flash loan will be repaid through the instant NFT-backed loan on BendDAO.
+
+The buyers will automatically become borrowers with the down payment. And borrowers can list their mortgaged NFT for sale on the BendDAO marketplace as well.
+
+### [nft-down-payment-buyer.md](../marketplace/nft-down-payment-buyer.md "mention")