Unlock liquidity from real-world assets without selling them.
Asset-backed lending lets owners of valuable, audited collateral — bullion, fine art, inventory, commodities — borrow working capital while keeping ownership. On.Chained specialises in loans where the collateral exists in the real world and recovery is enforced through legal rights, not price oracles.
What counts as eligible collateral?
We lend against assets that can be independently valued, securely stored, and legally encumbered. Common examples include:
Vaulted bullion — gold, silver, and platinum held in approved custody.
Base metals — copper cathodes, concentrate, and other warehouse-stored commodities.
Certified inventory — audited stock held by recognised operators or logistics providers.
Fine art and collectibles — authenticated pieces with provenance and custody records.
Forward-production structures — enforceable claims on future physical delivery.
How the loan-to-value is set
LTV is not a market price multiple. It is calculated from the verified collateral value, then discounted for liquidity, custody risk, insurance coverage, and enforcement complexity. The result is a conservative advance ratio that leaves room to recover even if market conditions move against the position.
Why enforcement matters more than liquidation
Real-world assets do not sell instantly at a screen price. Forcing a sale during stress typically destroys value. On.Chained's model starts with what can be claimed and enforced — security interests, custody agreements, and legal remedies — so a default becomes a work-out rather than a fire sale.
Who is this for?
Asset owners who need working capital but do not want to sell.
Commodity traders and producers with audited inventory or warehouse receipts.
Collectors and art market participants with authenticated, stored pieces.
Capital providers seeking yield backed by enforceable collateral rather than protocol tokens.