PORTAL Finance Successfully Raised $8.5 Million From Industry Heavyweights
PORTAL Finance is delighted to announce a successful fundraise of $8.5 Million from some of the most prominent investors in the blockchain and DeFi space.
Investment firms, influencers, exchanges participated in the fundraiser, and Portal is oversubscribed by more than 47x.
Investors of the Portal project include Coinbase Ventures, ArringtonXRP Capital, OKEx Blockdream Ventures, Republic.co, Shima Ventures, LD Capital, Monday Capital, GenBlock Capital, Taureon, Autonomy Capital, Krypital Group, B21 Capital, Arkstream Capital as well as the senior executives and founders of Ethereum, DFINITY, MobileCoin, Tether (USDT), Galaxy Digital, Bitcoin.com, Republic, Centre.io, Polymath, Æternity, Hedera Hashgraph, Blockstream, Reef Finance, GlobeDX and FIO among many others. These are blockchain leaders and notable investors who are the driving force behind the advancement of DeFi and the continued growth of numerous projects.
With this investment support, the Portal project can successfully develop and launch a unique, self-hosted layer 2 wallet and exchange, engineering to make atomic swaps between Bitcoin and other digital assets fast, secure and private.
Portal Solutions and Features
Portal unlocks Bitcoin’s potential to achieve complete decentralization. As a unique feature, Portal users can earn Bitcoin (or other cryptocurrencies) if they act as a “facilitator” for traders in the market using the “Portal Swap Protocol”.
Portal Swap Protocol is a powerful new off-chain technology that helps keep trading data private. The protocol supervises the following properties:
✅ Fairness (“Priced Optionality”)
✅ Facilitation
✅ Trust-minimization
Portal CEO Eric Martindale said:
“By bringing a fast, peer-to-peer, Layer 2 exchange – with the speed of centralized exchanges but with privacy – Portal is delivering on the promise of self-sovereignty for everyone. The current centralized exchanges, false “decentralized” DEXs, custodially wrapped tokens, and censorable ecosystems all threaten Bitcoin’s promise of self-sovereignty. Fabric technology enables Layer 3 privacy on cross-chain transactions and eliminates the need for centralized custodians.”
About Portal
The Portal Project is a layer 2 system purpose-built to facilitate cross-chain atomic transactions. It is user-friendly and offers numerous DeFi services built on Bitcoin. Users on Portal can experience the speed and liquidity of centralized alternatives with the trust minimization guarantees of Bitcoin.
The Portal Project is built on Fabric’s market for computations- a free market for De-Fi services. Fabric is a general-purpose “computation market”, in which users can deploy complex programs for blinded execution by a network of peers.
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