> ## Documentation Index
> Fetch the complete documentation index at: https://docs.shores.finance/llms.txt
> Use this file to discover all available pages before exploring further.

# Why Shores

> How Shores compares with crypto-collateral lending and rent-based property tokens.

| | Maple | Rent-based property tokens (for example PropBase) | Shores |
| - | - | - | - |
| Yield source | Loans against crypto collateral | Rent from tenants | Interest paid by property owners |
| Headline rate | About 5% | Depends on rent | Borrowers pay 13–15% |
| Collateral | Crypto | The property itself (owned) | First liens on real property |
| Renter risk | None | Yes | None |
| Management, ownership and improvement costs | None | Yes | None |
| Capital cycle | Varies | Locked in the property | Short bridge loans recycle capital to new borrowers |

## Lend against property instead of owning it

Net returns on owning property run about 7–8%. An owner carries the tenants, the management, the repairs and the improvements. A lender with a first lien on the same property is paid first, at 13–15%, and carries none of those costs.

## Real collateral, not crypto collateral

Crypto-collateralized lending depends on the value of the crypto. Shores loans are secured by real property: durable, recorded and enforceable.

## Owners pay the yield

The yield is interest paid by borrowers who have equity in their property and a reason to protect it. It does not depend on token emissions, rents or trading.


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