Welcome to the official Backd developer documentation!

Procotol OverviewΒΆ

The Backd protocol allows liquidity providers (LPs) to earn yield on deposits, which can also be used as backup collateral on other protocols, such as on Aave or Compound. This allows borrowers to keep less idle collateral on a lending protocol and earn higher yield on these funds through Backd. Once funds are needed as collateral on a protocol, they will get automatically shifted over from Backd to the lending protocol.