Your equity, claimed, converted, and protected — in that order.
BTB Card follows one piece of home equity through six recorded stages: claimed as CHEX, verified by a third-party appraiser, converted into ANFETs, registered as a lien that protects your title, then either traded on the exchanges or swapped whole for equity in another home.
Six stages, one file
Each stage below only unlocks once the one before it is complete. That order is the point — it's what makes the lien in stage four a true reflection of equity that's already been claimed, verified, and converted.
Submit property details, claim your CHEX
Enter the property's appraised value and outstanding mortgage balance. This determines net equity and opens a claim against a set number of CHEX — one CHEX per dollar of equity. See Claim.
HouseCanary confirms the value
The claim can't be paid out on a self-reported number alone. A third-party evaluation through HouseCanary.com confirms the appraised value; once that's back, the CHEX from stage one is released to the homeowner's wallet. See Verify.
Build ANFETs, paid for in CHEX
With CHEX confirmed in the wallet, the homeowner builds Abstract Non-Fungible Equity Tokens against that equity — paying for each one directly out of the CHEX balance. See Convert.
Register the ANFETs as a lien on title
Once issued, ANFETs are recorded as a lien against the physical property, discharged only by a CHEX payment. That lien is the homeowner's insurance policy: a claim against the title equal to actual equity, enforceable against illegal foreclosure or title fraud. See Protect.
Buy ANFETs or CHEX from the exchanges
Beyond one property, a wallet holder can buy ANFETs issued against other properties on the ANFET Exchange, or top up their balance directly on the CHEX Exchange. See Exchange.
Trade equity in one home for equity in another
The Property Exchange Portal lets a homeowner trade their equity position for equity in a different property — a sell and a buy, settled at the same moment. See Swap.
Submit the property. Open the claim.
Enter the appraised value and what's still owed on the property. That's the net equity behind the claim — this step doesn't issue CHEX yet, it establishes how much you're entitled to once stage two confirms the number.
This opens the claim — it doesn't release CHEX to your wallet. That happens once HouseCanary confirms the value in stage two.
A third party confirms the number
Before any CHEX is released, the appraised value behind the claim is confirmed by an independent evaluation through HouseCanary.com. This is the step that turns a self-reported number into a verified one — and it's required, not optional, before a claim can be paid out.
Evaluations through HouseCanary.com typically confirm within a few business days. You'll be notified the moment your CHEX is claimable.
Build ANFETs with your CHEX
With CHEX confirmed in the wallet, it can be converted into Abstract Non-Fungible Equity Tokens — each one a fixed-value, on-chain instrument built against the property's equity and paid for directly out of the CHEX balance.
Each ANFET is minted on-chain and immediately registered to your wallet, ready for stage four.
The ANFETs become a lien on your own title
Once ANFETs are issued against a property's equity, they're registered as a lien against that same property — one that can only be discharged by a CHEX payment. That lien is title protection: a recorded claim equal to the homeowner's actual equity, standing ready in case of illegal foreclosure or title fraud.
4 Birchwood Lane, Austin TX
Registered against title for the full value of ANFETs issued. Discharge requires a matching CHEX payment — no other party can clear it, and no transfer of title can extinguish it without settling the claim.
Log the ANFETs
Property and ANFET details, plus the value they represent, are logged against the title.
Match the jurisdiction
The lien is mapped to that county and state's filing requirements automatically.
Record the lien
The claim is filed and recorded against the property through the appropriate system.
Hold until discharged
The lien stands until a matching CHEX payment discharges it — the homeowner's protection either way.
Buy into other properties, or top up CHEX
A wallet isn't limited to one property's equity. Two exchanges sit alongside the claim, verify, and convert flow: one to buy ANFETs issued against other properties, and one to buy CHEX outright.
Buy equity in other properties
Every registered ANFET can list here. Buy a position in a property you don't own, priced per token against its own lien-protected equity.
- 142 Maple St, Austin TX100 CHEX / ANFET
- 221 Lakeview Ct, Chicago IL112 CHEX / ANFET
- 88 Harbor View, Miami FL95 CHEX / ANFET
Buy CHEX directly
Add to a wallet balance without going through the claim process — useful for building ANFETs on a property you don't hold equity in yet, or simply increasing purchasing power on the ANFET Exchange.
- Spot rate1.00 USD / CHEX
- Minimum purchase500 CHEX
- SettlementOn-chain, instant
Trade one property's equity for another's
The Property Exchange Portal settles a full equity swap in a single motion — as if selling one property and buying another at the same moment, without ever converting either side back to cash.
A difference in equity value is settled in CHEX at the moment of the swap — here, 14,900 CHEX would be paid to balance the trade.
Every stage settles on the same ledger
The claim, the HouseCanary confirmation, the ANFETs, the lien, and every exchange or swap trade all read from one record for the property.
On-chain settlement
Every claim, mint, lien registration, and trade is recorded on a public ledger, independently verifiable.
Independent verification
Appraised values are confirmed by HouseCanary, a third party separate from the protocol itself.
Title-level protection
Liens are filed against title itself, matched automatically to each county and state's requirements.
Transparent registry
Claim status, lien status, and every exchange trade can be looked up from the admin console.