Port Finance is a decentralized Money Market protocol on Solana, aiming to provide a full suite of lending products including but not limited to: variable rate lending, fixed rate lending and interest rate swaps.
Providing a full suite of money market products starting with variable rate lending. Utilizing Solana's high throughput and low latency, users will be able to borrow more money with the same amount of collateral compared to the Ethereum alternatives as the platform will be able to liquidate users a lot of faster
Building on Solana means that Port Finance will be able to take advantage of Serum's order book to open up exciting new possibilities for the implementation of more complex financial products that do not currently exist on Ethereum
One of the award-winning projects at the recent Solana Hackathon
One of the very few Solana projects which have a live product on mainnet. The team is able to build fast and have a first mover advantage to build a suite of money market products in the Solana ecosystem
1st IDO on Solanium (Completed on 7 August)
Token launch and listing on CEX and DEX on 9 August
TOKENOMICS
Token utilities :
- Governance token (users will be able to vote for assets they want to list)
- Buy and burn mechanism (using borrowing fee accrued to the platform)
Metrics
Private Sale: $0.3 at $30m Valuation (Current investors include CMT Digital, Solana Foundation, Ascendex, ROK Capital etc). 15% at TGE, with the rest being vested over 12 months (7% per month)
Seed Round: $0.2 at $20m Valuation (Investors include Jump Capital, GSR, Rarestone, Valhalla Capital, Solanium, Mercurial, Raydium, Defi Alliance) 10% at TGE, with the rest being vested over 18 months (5% per month)
Total Supply: 100m tokens
Initial market cap: 616,000 USD
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