What IsPort Finance (PORT)?

Port Finance is a lending protocol. The platform aims to leverage the Solana blockchain’s high speed and low latency with a complete range of fixed income products, including fixed-rate lending, variable rate lending, and yield rate swaps. Port Finance also looks forward to implementing features like leveraged trading using the Raydium AMM (automated market maker) with one click and protocol-to-protocol lending to enable leverage yield-farming.

Port Finance focuses on leveraging the technological advancements on the Serum ecosystem to bring lending products difficult to implement on Ethereum. According to the whitepaper, the platform follows a three-step approach. In the first phase, the platform aims to provide a baseline lending protocol similar to Compound and Aave on Ethereum, with three core features:

• Variable Rates Based on Utilization: The yield rate increases with the utilization rate and vis-à-vis with an adjustable yield rate curve.

• Cross-Collateral Support: The protocol facilitates loan origination in various digital assets across multiple collateral options.

• Flash Loans: The protocol supports flash loans, allowing users to perform low-risk arbitrage among different Serum markets or between Raydium and Serum.

  In the second phase, Port Finance seeks to provide a fixed rate lending protocol utilizing the Serum order book to offer two benefits: a fixed-term and fixed-rate product and a responsive and accurate yield rate discovery mechanism. Lastly, Port Finance aims to implement a yield rate swap market between floating and fixed rates, again using the Serum order book.

The platform issues a native token named Port Finance (PORT) to allow decentralized community governance and to incentivize early-stage users. The PORT token gets value by acting as a governance token to decide on the several parameters of the protocols, including which assets to support, the maximum loan-to-value ratio, liquidation threshold, and other associated changes.

History of Port Finance (PORT)

According to the roadmap, the platform launched Port Finance (PORT) (Initial DEX Offering) IDO with Solanium in August 2021.