# Backed Protocol
https://discord.com/channels/885676342958493696/920765268043632720

## What is Backed Protocol?
Backed Protocol enables peer to peer loans with NFTs as collateral. Borrowers state their minimum terms--minimum loan amount, minimum duration, and maximum interest rate. Lenders can immediately start the loan by meeting or beating these terms. Throughout the loan duration, the lender on a loan can be bought out be a new lender who offers better terms, at least a 10% improvement on some dimensions: loan amount, duration, or interest rate.

## How can I try it?
We are live on mainnet here https://www.withbacked.xyz/

If you just want to test, see below
You can use the protocol on the Rinkeby testnet here - https://rinkeby.withbacked.xyz/
You can mint yourself a testnet NFT or DAI here - https://rinkeby.withbacked.xyz/test
If you need Rinkeby eth, see here https://faucet.paradigm.xyz/
Submit feedback using this form https://forms.gle/jRNBhKk3ETWQGZVMA or in Discord

## What is the community NFT and how can I get one?
See docs on the community NFT and how to get one here https://github.com/wilsoncusack/backed-community-nft-docs

## Other
Follow us on Twitter! https://twitter.com/backed_xyz