Port Finance is a Solana based lending protocol with the vision of bringing a whole suite of interest rate products to DeFi users.
Port Finance aims to provide an entire suite of fixed income products including variable rate lending, fixed rate lending and interest rate swaps.
Port Finance was founded in 2021 by Gabriel Wong, with other three cofounders. The company is headquartered in London.
Port Finance was the first to launch a variable rate lending product on Solana’s mainnet in July 2021. The PORT token is currently traded on FTX, Ascendex, Gate.io, Serum, Raydium and Orca.
Port Finance has secured over 30 integrations and partnerships since its launch. The latest Port Finance product, Sundial, came live last week and was the first to offer fixed-rate lending on the Solana blockchain starting with USDC.
Port Finance's platform now supports 13 different assets from the Solana, Ethereum, Terra and Bitcoin network and previously reached a total value of over $300M in assets locked on the platform.
Port Finance is backed by Alameda Research, Jump Capital, Solana Foundation, Spartan Group, GSR, Defi Alliance, A41, and others. The company raised $5.3M in a new financing on Dec 23, 2021. This brings Port Finance's total funding to $6.3M to date.