BaconCoin (BAK)

BaconCoin (BAK) is a digital asset that offers a comprehensive solution for Non-Fungible Tokens (NFTs). NFTs are unique digital assets, such as artworks and music, that are tracked through blockchain technology, making them unable to be reproduced or interchanged. The TokenBacon platform provides a one-stop solution for the chain’s full life cycle of NFTs.

The platform offers various services, including authentication, encryption, trade, loan, and liquidation of NFTs. To ensure the authenticity of the assets, the platform collaborates with professional authenticating companies. The NFTs are securely stored in a depository company after authentication. TokenBacon links NFTs to decentralized finance (DeFi) through technical encryption, enabling users to trade, loan, and fund NFTs.

Once listed on the platform, asset owners can trade or make loans against their NFTs, which different users can fund. Smart contracts govern the borrowing process, with NFTs locked and returned upon loan repayment. In the event of loan defaults, liquidation occurs, and the NFTs are transferred to the funder according to the smart contract. The funder can then retain ownership or conduct an auction through the platform.