# 40 Acres Finance

> veNFT Lending & Borrowing Platform

## What is 40 Acres?

40 Acres is a DeFi lending and borrowing protocol where users deposit veNFTs (vote-escrowed NFTs) or x33 tokens as collateral and borrow USDC. Loans are self-repaying, non-liquidating, and interest-free.

## How It Works

1. **Deposit collateral**: Users deposit their veNFTs (veAERO, veVELO, vePHAR) or x33 tokens into the protocol.
2. **Borrow USDC**: Based on the forecasted yield of the deposited collateral, users can borrow USDC upfront.
3. **Self-repaying**: Each epoch, the protocol collects the voting rewards generated by the deposited veNFTs and uses them to automatically repay the outstanding debt.
4. **Withdraw**: Once the loan is fully repaid, the user can withdraw their collateral. Users can also repay early at any time with no penalties.

## Key Features

- **Self-Repaying Loans**: Debt is automatically repaid using the yield generated by your deposited veNFTs.
- **Non-Liquidating**: Positions cannot be liquidated by third parties. Your collateral is secure regardless of market volatility.
- **Interest-Free**: There is no interest charged on borrowed amounts.
- **No Lock-In**: Users can repay and withdraw at any time without penalties.

## Supported Protocols & Chains

| Protocol   | Chain      | Collateral Token |
|------------|------------|------------------|
| Aerodrome  | Base       | veAERO           |
| Velodrome  | Optimism   | veVELO           |
| Pharaoh    | Avalanche  | vePHAR           |
| Blackhole  | Avalanche  | veBH             |

## Collateral Types

- **veNFTs**: Vote-escrowed NFTs from supported DEX protocols. These generate voting rewards each epoch.
- **x33 tokens**: Liquid wrapper tokens representing staked positions, also accepted as collateral.

## Lending (Earn)

Users can also lend USDC to the protocol's supply vaults to earn yield. Lenders provide the liquidity that borrowers draw from, and earn rewards in return.

## Marketplace

40 Acres includes a veNFT marketplace where users can buy and sell veNFTs directly on the platform.

## Links

- Website: https://40acres.finance
- Twitter: https://twitter.com/40acres_Finance
- FAQ: https://40acres.finance/faq
- Stats: https://40acres.finance/stats