HOME, issued by the RWA Protocol smart contracts (formerly Bacon Protocol) under the governance of RWA tokenholders, is a yield-bearing stablecoin pegged to the U.S. dollar (USD) and backed by U.S. residential mortgage liens [S1][S2].

Holders receive economic exposure to a pool of overcollateralized U.S. residential mortgage loans, each secured by a lien registered at the county and onchain [S1]. Homeowner loan payments pass through to tokenholders, where the protocol and parties collecting payments take 1% and the remainder accrues to holders as a reward [S1]. The issuer states the loans generate a 2-5% APY from underlying cash flows rather than token incentives [S3].

No corporate entity is named as issuer of the HOME token; the product is presented as a decentralized RWA Protocol governed by RWA tokenholders [S2]. The only named legal entity is LoanSnap, Inc., 3070 Bristol St #200, Costa Mesa, California, NMLS #76967, an Equal Housing Lender acting as licensed mortgage originator across 40+ U.S. states [S4]. Underlying loans conform to U.S. Fannie Mae and Freddie Mac standards [S5]. LoanSnap's lending compliance is administered by the U.S. Federal Trade Commission (FTC) under fair-lending laws [S4]. The holder's claim is framed as a reward entitlement to loan payments [S1].

HOME is an Ethereum token, and the underlying liens are represented as NFTs on Ethereum, with backing loans viewable onchain [S1][S3]. Tokenholders mint HOME by depositing USDC, USDT or DAI [S1]. Loans in the pool are overcollateralized by 30% or more on average; on default the protocol may sell the home to repay holders [S3][S1].

<Sources
  retrievedAt="2026-06-22"
  items={[
    { id: "S1", url: "https://homecoin.finance" },
    { id: "S2", url: "https://www.homecoin.finance/press" },
    { id: "S3", url: "https://www.homecoin.finance/home-benefits" },
    { id: "S4", url: "https://www.homecoin.finance/participants" },
    { id: "S5", url: "https://www.homecoin.finance/assets-backing-home" },
  ]}
/>


Stablecoins

Users mint HOME by depositing stablecoins (USDC/USDT/DAI); the protocol issues overcollateralized loans secured by liens on U.S. homes, and homeowner repayments are distributed to HOME holders.

HomeCoin issues HOME, a USD-pegged, yield-bearing stablecoin backed by a pool of overcollateralized U.S. residential mortgage loans.

HomeCoin (homecoin.finance) is operated by LoanSnap, Inc., a U.S. AI mortgage company founded by Karl Jacob and Allan Carroll. Disclosed LoanSnap backers include Benchmark, True Ventures, and Virgin Group.

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Stablecoin issuers

HomeCoin

HomeCoin HOME (HOME) is a U.S. dollar stablecoin issued by HomeCoin.

Retail investors can mint and redeem directly with HomeCoin in USDC, USDT, and DAI.

HOME has been issued on Ethereum as an ERC-20 token since July 2021.

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