Home Finance

A Stablecoin backed by U.S. Homes

What is Home?

Bacon protocol is a decentralized system for issuing on-chain liens for real-world properties. Community members can elect licensed Servicers to issue these liens and homeowners can use these liens to borrow USDC against their home.

How is Home Different?

1% APY for holding HOME in your wallet

It doesn’t have to be staked. Holders of HOME get a 1% return just for holding the token in their wallet. No other stablecoin offers this type of reward without staking or otherwise, tying up the holder's money.

Transparent - See the loans backing Home any time

At any time, all overcollateralized loans backing Home may be viewed on the blockchain or on www.homecoin.finance. The information includes the home's location, value and lien amount, among other things. Other stablecoins rely on auditors.

Stable - Stake and get return of 2-5% APY for years

The loans backing HOME generate a 2-5% return without incentives. Other stablecoins rely on incentives to reward the people who stake their stablecoin, but the core assets that back these stablecoins generate minimal or no return.

Overcollateralized - Loans only up to 80% of home value

Every loan is overcollateralized. The average loan in the pool backing HOME is overcollateralized by 20% or more making the value of the home higher than the lien and loan against the home. Other stablecoins may hold more assets than needed to maintain a 1:1 ratio between assets and the coin value, but there is no guarantee the individual assets are overcollateralized.

Decentralized - The homes and the the loans are distributed

It is decentralized at its core. The assets backing HOME are distributed around the United States. The platform is open to any loan officer to originate loans, as well as financial institutions. The collection of payments can be done through anyone licensed to be a servicer or directly through the blockchain. Other stablecoins store the assets that back them at centralized institutions.