Last UpdatedJanuary 2023
The Bacon Protocol brings the same power and value that mortgages give banks, financial institutions, and governments to anyone who can buy cryptocurrency. No matter where you live, you can purchase the HOME token and enjoy the stability of mortgages backed by real homes and receive benefits from interest payments on those mortgages.
Protocol users receive HOME tokens by providing USDC as liquidity to the protocol. Loan Servicers bridge the real world to the protocol by vetting borrowers and homes, registering liens with the government, and minting the NFTs that represent the value of a home. People looking for a home loan can use a mortgage company of their choice and currently LoanSnap provides this service This project is backed by True Ventures, Richard Branson, Peter Thomson among others.