Decentralized mortgage lender Bacon Protocol officially launched on Tuesday, allowing cryptocurrency investors to participate in the housing market through a new stablecoin that’s backed by USD Coin (USDC) and home loans.
In addition to launching its protocol, Bacon announced Tuesday that it is holding a public sale of bHome token, which is described as a Stable+ Coin that’s backed “dollar for dollar” by USDC, liens and loans on properties in the United States. Early participants in the sale will be eligible to receive additional rewards via the BACON governance token.