BendDAO, a decentralized autonomous organization that allows NFT owners to collateralize their digital collectibles for loans (in ETH) worth 30%-40% of the NFT's floor price, voted last week to change the code of its protocol to make its NFT collateral more liquid. The vote took place after an increase in the value of ETH-denominated loans in dollar terms. Meanwhile, NFT prices have dropped, lowering the value of the collateral held by BendDAO.