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What is loan collateral and what does Unchained do with it?
The bitcoin associated with your loan collateral is secured using multisignature addresses in a 2-of-3 quorum.
Collateral Type
The trust structure which backs Unchained loans only accepts bitcoin. We have no plans to accept other assets as collateral.
Storage
As a condition of your Loan, you will deposit bitcoin into a segregated Sub-Trust of the UC Secured Assets Trust Series, under the Trust Agreement dated April 14, 2022, as amended, and in return will be issued a Specified Unit of Beneficial Interest ("SUBI") representing equitable title to the deposited assets. This Trust Agreement is available to review at https://unchnd.co/trustagreement.
Unchained's multi-institution model is a secure and trust-minimized way of storing the bitcoin associated with your loan collateral. Unchained does NOT rehypothecate, or lend to other people/entities, any bitcoin backing an Unchained loan. Bitcoin associated with your loan collateral is stored in multisignature addresses viewable on the blockchain within a 2-of-3 quorum using private keys held by the Key Agent, Unchained, and the borrower, eliminating Unchained as a single point of failure. Borrowers can verify the addresses associated with loan collateral on a hardware wallet. To move any bitcoin stored at an address, two of the three keys will be required to sign.