Almost everyone has heard the phrase “Bring home the bacon,” which roughly means to “earn the money that is needed to live.” Purchasing bHOME allows anyone with a crypto wallet to access the same asset class used by banks and governments to preserve and grow their wealth.
Mortgages have been a cornerstone of our financial systems and have been around since the year 1190. Banks, insurance companies, and governments buy and hold trillions of dollars of mortgages each year to preserve and grow wealth.
The U.S. government holds over $3 Trillion of mortgages. Ever wonder where the interest comes from in a savings account? Well banks use your money and lend it out to home owners. They then share a very small percentage of the payments they get with you. Generally this is about 0.1% from the 3% they collect from homeowners.
The Bacon Protocol introduces a new way for crypto wallet holders to hold a coin backed by the same types of mortgages that banks, insurance companies and governments use. Because of the efficiency of the blockchain and the removal of all the processes and many people, users of the Bacon Protocol get the majority of the return, about 2 - 3% vs 0.1% if you kept that money in a savings account.
bHOME, our first token, is backed by liens against homes in the United States and grows based on payments from the loans made against these liens.
Bacon Protocol's smart contracts passed a rigorous audit by BlockHunters and received their highest rating. The month-long audit thoroughly covered both security and lending algorithms.
Download and read the full audit report for more details.