Port Finance is a decentralized money market protocol built on Solana that launched a variable-rate lending product on mainnet in July 2021 and recently introduced fixed-rate lending via its Sundial product. The platform supports 13 assets spanning Solana, Ethereum, Terra and Bitcoin networks and previously reached over $300M in assets locked. Port Finance plans to extend its product suite to fixed-rate lending and interest rate swaps and expects institutional demand for borrowing USD against token holdings at fixed rates. The team has engineering experience from companies like Google, Facebook, and Microsoft and contributors to Solana and Serum. The project has secured over 30 integrations and partnerships and set up a Port Ecosystem Grant to support integrations. Over the coming months Port Finance will roll out a governance module with a staking mechanism to align token holders with the project; the PORT token is traded on exchanges including FTX, Ascendex, Gate.io, Serum, Raydium and Orca.

Total raised

$5M

Funding rounds

1

Latest round

Equity

Latest activity

Dec 2021