- The XRP Ledger (XRPL) has made a remarkable stride, embracing HOME, the first-ever mortgage-backed stablecoin, launched by the RWA protocol.
- HOME brings novel features to the stablecoin landscape, like transparency, attractive returns, overcollateralization, and decentralization.
XRP Ledger (XRPL), a prominent player in the crypto sphere, has welcomed a revolutionary stablecoin, HOME, onto its platform. This innovative addition marks a significant step forward as HOME becomes the XRPL’s first-ever mortgage-backed stablecoin.
HOME Debuts on XRPL
Introduced by the Real World Assets (RWA) protocol, HOME aims to disrupt the mortgage industry, offering flexible and accessible mortgage financing options on a global scale. The launch of this asset on the XRPL has stirred widespread interest, with the official Twitter handle of HOME Coin announcing the development and sharing the official press release.
But what truly makes HOME stand out from other stablecoins is its unique set of features. Transparency forms the bedrock of HOME. It provides users with access to essential data concerning the underlying loans backing the coin directly on the blockchain. This transparency extends to specific details, including the lien amount, location, and value of the assets underpinning HOME.
Furthermore, HOME boasts an attractive current return, ranging between 2% to 5%, accrued from borrowers repaying their loans. This approach is in stark contrast to other stablecoins that offer minimal or no returns and rely solely on incentives.
Security is another priority for HOME. To ensure robust protection, the value of the assets supporting HOME exceeds the loan amount by an average of 30%, guaranteeing overcollateralization. Other stablecoins may hold excess assets but do not provide the assurance of overcollateralization.
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Promoting decentralization, the mortgages supporting HOME are dispersed throughout the United States. Any loan officer or institution has the ability to originate loans.
The launch of HOME on the XRPL allows RWA Protocol to tap into the network’s speed, cost-effectiveness, and commitment to sustainability. The goal is to streamline the mortgage experience for consumers and homeowners.
While HOME is not the first stablecoin to debut on the XRP Ledger, it certainly has distinguished features. Stably USD (USDS) was the first USD-pegged stablecoin to launch on the XRPL in November of last year, followed by the Australian Digital Dollar (AUDD) stablecoin, launched by Novatti Group.
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