Borrowers

Overview

Borrowers are fully KYCed and qualified users who can borrow lender's funds to strictly facilitate the purchase of Backed Finance's bIb01 token, which represents Blackrocks ib01 Treasury Bond ETF.

Yield Generated

Borrowers generate returns based on the spread between the value of a given TBY and the value generated from the bIb01 token during the 6-month duration of the TBY. At the end of the 6-month maturity date, market makers complete the final swap, borrowers can redeem their yield by calling BloomPool::redeemBorrower and passing the token id of the relevant TBY. This will withdraw the maximum amount of liquidity available for the borrower.

How to participate

Borrowers must be fully KYCed to participate in the system. If you are interested in becoming a borrower please reach out to us at [e-mail]