Holders of $HOME can now earn additional rewards by boosting their tokens for 90 days to earn 2% rewards or for 1 year for max rewards, currently at 4%. Holders will continue to earn 1% passive yield in their wallet just by holding $HOME with no boosting required.
HOME offers a new way to put your digital assets to work and earn passive income without needing to sell by holding a coin that’s backed by the same kind of mortgages that the banks use to power your savings account. When you deposit into HOME, the protocol uses that money to purchase overcollateralized mortgages on homes throughout the U.S. The money from people making payments on those mortgages flows back to HOME and then to you as a $HOME holder. So not only are you receiving passive yield, you’re also helping diversify your portfolio at the same time. Win. Win.
When you simply hold $HOME in your wallet, you receive 1% yield. But when you boost, you lock up your assets for a set amount of time and in exchange receive a higher yield of 2% for 90 days and maximum rewards (currently at 4%) for 1 year of boosting. When you choose to boost you’re also benefiting the protocol itself, as your locked coins not only show your commitment to the protocol but also help ensure its longevity by providing a sign as to how capital can be used.
When you boost, you will receive an NFT that represents your total boosted $HOME and yield. These Boost NFTs are tradeable like any other NFTs. Boosters who would like to access liquidity without withdrawing their boosted $HOME prematurely will be able to trade this NFT for the boosted amount and past yield. There are no limits to how many times these NFTs can change hands before the end of the boost duration, and new owners of these NFTs can simply return to the Home platform to withdraw the boosted $HOME and yield, thereby burning the aforementioned NFT.
To make things even more exciting, until the 31st of August 2022, 23:59 EST, we’re giving out EXTRA rewards for those who boost above certain amounts.
Boost 5,000 $HOME for 90 days to receive an additional 100 $HOME or boost 20,000 $HOME for 90 days to receive an additional 500 $HOME. These rewards will be paid to your boost balance to earn and compound even more yield! **
One more note on boosting; 60 days from now, on Oct 15th, all staked $HOME will be automatically moved into a boost. The decision for which boost this staked $HOME will be moved into (90 days or 1 year) will be decided by the DAO this week. Stay tuned for more information and updates on the the HomeCoin Twitter.
Launched in 2021, $HOME is a stablecoin backed by US home mortgages and is the first stablecoin to generate returns where yield is generated from mortgage repayments made in fiat. This allows holders and boosters to tap into a revenue stream that is predictable, hedged against movements within the crypto markets and hence durable even in a bear market.