HOME is a new stablecoin on the XRP Ledger that is backed by mortgages and powered by the RWA protocol. Find out how HOME aims to revolutionize the mortgage industry and benefit homeowners.
The XRP Ledger (XRPL) is home to many innovative projects, but HOME is the first mortgage-backed stablecoin on the network.
HOME is a product of the RWA protocol, a platform that uses blockchain technology to create flexible and accessible mortgage financing options for individuals worldwide.
The Unique Features of HOME
HOME is a stablecoin representing a fraction of a real home in the United States. Each HOME token is backed by mortgages, which are loans secured by real estate properties.
HOME holders can enjoy an attractive current return, ranging from 2% to 5%, generated through borrowers repaying their loans. This is unlike other stablecoins that offer minimal or no returns and depend on external incentives.
Additionally, HOME ensures security by overcollateralizing its tokens. This means that the value of the assets backing HOME is always higher than the loan amount by at least 30% on average.
This provides a buffer against potential losses or defaults. Other stablecoins may not guarantee over-collateralization, even if they hold a surplus of assets.
Decentralization is another defining characteristic of HOME. Homes across the United States back the stablecoin, and any loan officer or institution can originate loans.
By launching HOME on the XRP Ledger, the RWA protocol leverages the network’s speed, cost-effectiveness, and sustainability. These characteristics enable the RWA protocol to improve the mortgage experience for consumers and homeowners.
The official Twitter account of HOME Coin announced the launch of HOME on the XRPL, sharing a link to the press release and attracting attention from the crypto community.
Interested market participants can find HOME on the XRPL with the ticker HOM. However, HOME is not the only stablecoin available on the network. Here are some other stablecoins that have been issued on the XRPL:
- Stably USD (USDS): A US dollar-backed stablecoin issued by Stably, a Web3 payments provider based in Seattle.
- Stasis EURS (EURS): A Euro-backed stablecoin issued by STASIS, a leader in euro-backed stablecoins.
- Xago XUS (XUS): A US dollar-backed stablecoin issued by Xago, a South Africa-based fintech firm.
- Novatti AUDD: An Australian dollar-backed stablecoin issued by Novatti Group, a leading fintech firm.
- AUREI (AUR): A zero-barcon stablecoin that will be backed by FLR and XRP.
