40 Acres

40 Acres lends against collateral without the usual liquidation risk. The loan repays itself: yield generated by the deposited collateral goes toward the debt over time instead of the borrower making payments, and because the loan never grows past the collateral backing it, there is no liquidation price to defend.

The trade-off is that repayment depends entirely on the collateral earning, so a stretch of low yield means the debt simply sits there. The protocol describes itself as a community DAO as well as a platform. It runs on three chains with most of its position on Base.