LOAN Protocol is a decentralized lending market built on the XPR Network. Utilizing the cross-chain capabilities of XPR Network wrapped xTokens, LOAN Protocol makes it possible to deposit cryptocurrency into lending pools to earn interest, and to take collateralized loans from cryptocurrency pools. With support for BTC, ETH, USDC, DOGE, XPR, XRP and XMT, and with zero gas fees on the XPR Network blockchain, LOAN Protocol ensures DeFi lending remains accessible and affordable.

LOAN opens up a new possibility for borrowing and lending against multiple blockchains that were not previously accessible on Ethereum or other blockchain protocols. By using a system of smart contracts powered by the XPR Network and Metal X, users can request and fulfill loans using cryptocurrency without the need for a central mediator and without regard for the parent blockchain protocol of the requested asset.

The LOAN token is used to vote on governance decisions for the LOAN Protocol and Metal X Lending such as which tokens can be collateralized on the protocol to borrow and lend, as well as the interest rate curves for borrowing.