- Port Finance is a non-custodial money market protocol built on Solana’s permissionless ecosystem.
- It plans to provide a full range of lending products including fixed and variable rate lending, as well as interest rate swaps.
- The platform recently announced a partnership with gopartyparrot, a liquidity network for lending and borrowing.
- Port Finance wants to capitalize on Serum’s order book to launch more complex financial products unavailable on Ethereum.
Port Finance is an up-and-coming money market platform built on Solana’s blockchain ecosystem. It launched Port Token (PORT) IDO with Solanium in August 2021, which was later listed as a tradable pair against the USDT on the Acsendix crypto trading platform.
Port Finance will allow users to deposit and borrow crypto similar to how peer-to-peer lending platforms work. Its array of products include variable-rate lending, fixed-rate lending, and interest rate swaps.
Port Finance has made some key developments central to its vision recently. Since launching the PORT token last month, it has gone on to list on several crypto trading platforms. It has also made some crucial partnerships that will further its goal of becoming the best crypto lending platform on Solana.
Port Finance launched its liquidity mining program on 1st September 2021, rewarding liquidity providers on the PORT platform. They also announced the release of 5,000 PORT tokens per day in the initial phase, an equivalent of 150,000 every month.
On 7th September, Port Finance announced it would be undergoing a 24-hour upgrade in preparation for its official liquidity mining campaign, pausing withdrawals and deposits. A handful of PORT users supported the announcement on social media platforms.On the 10th September, PORT entered into a partnership with gopartyparrot, another liquidity network for lending and borrowing to provide a dual liquidity mining program, allowing users to deposit $PAI and $pSOL, and earn PRT and PORT.
Port Finance is taking everything step-by-step, so there is nothing much lined up. However, the platform is planning to utilize Serum’s order book to launch more products. There are no specific dates for this but users are constantly seeking more updates from the company.