> For the complete documentation index, see [llms.txt](https://docs.based.loans/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.based.loans/welcome-to-based-loans.md).

# Welcome to Based Loans

Based Loans is a zero-liquidation lending protocol built on Base.

Deposit tokens as collateral, receive a USDC loan for a fixed term. Buy back your collateral at any time before it expires. No margin calls. No forced selling. No surprises.

#### [Explore Based Loans](/welcome-to-based-loans/introduction.md)

Learn how the protocol works, how loans are created, and how lenders participate in the system.