Lend and borrow with no middleman on @solana . P2P funding for individuals and businesses without the bank. AkjexPcofbUsagopkXp5Hj8LHEv1Lb2yhfciGx2spump
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Backstop: crowdfunded credit on Solana.
A bakery needs a second oven. A nurse needs exam fees. Each posts the amount, rate and term. Anyone can lend a share in USDC from $10, and every repayment is split on-chain, to the cent.
backstopsol.xyz
Correct, it's not live. On purpose.
This thing will hold other people's money, so nothing ships until the escrow, router and reserve programs pass an independent audit. The listings on the site are samples so you can see how it works.
Creator fees from $BACK pay for the audit.
$BACK · TOTAL 33/100 · NARRATIVE: LARP 10 · COIN: NEUTRAL 55 (insiders 3%)
Lending platform not built yet; holders spread out but coin is minutes old.
Red flags:
- Headline numbers are sample data
Couldn't confirm yet:
- No lending program deployed
Lending isn't live: the site says its programs are still in audit, and the loan requests, $199K pledged and 1,416 lenders shown are illustrative.
Chart and trade on Larpcheck: larpcheck.app/AkjexPcofbUsag…
Holders: 2 linked wallet groups (1%) · insiders hold 3% · launch bundle holds 3% · snipers hold 8.5% · 152 holders
In the report: where the top holders' money came from
larpcheck.app/c/NP36E60qbf/l…
We check the story and the coin (holders, dev, liquidity), not what the team does next. DYOR.
Underwriting a $15,000 loan costs a bank about as much as a $1.5M one, so it makes the big one.
The bakery that needs an oven gets a card at 20%+, or a cash advance that can top 100% APR.
Backstop lets the public make that loan instead.
backstopsol.xyz