By using BendDAO, users can store their valuable NFTs in a decentralized wallet and borrow up to 40% of the asset's "floor price" in ETH. Conversely, depositors who who deposit and lend ETH receive interest on their deposits. However, itâs now clear that the incentives weren't properly aligned. When news broke that $5.3 million worth of Bored Apes was in risk of being liquidated, investors were understandably frightened. Users panicked and withdrew their funds. This triggered a bank run that eventually left the platform with only 5 ETH in reserves.