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 support other cryptocurrencies.
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 secures bitcoin associated with your loan collateral using multisignature addresses in a 2-of-3 quorum using private keys distributed across multiple cities and authorized signing staff.
Our multi-institution model is a secure and trust-minimized way of storing the bitcoin associated with your loan collateral. There are three key holders: the Key Agent, Unchained, and the borrower. To move any bitcoin stored at an address, two of the three keys will be required to sign.
Holding a key to your loan gives you the ability to check your addresses associated with your loan collateral on a hardware wallet and eliminates Unchained as a single point of failure for your bitcoin.
Unchained does NOT rehypothecate, or lend to other people/entities, any bitcoin backing an Unchained loan. The bitcoin associated with your loan collateral is secured in multi-signature addresses and is viewable on the blockchain.