Amulet Official Partnership with Port Finance

Published on: 07.07.2022

Amulet, a decentralized insurance protocol built for the Rust-based ecosystem, announced its official partnership with Port Finance, a suite of money market products built on Solana.

Amulet has confirmed its official long-term partnership with Port Finance, the first non-custodial liquidity protocol also built on the Solana blockchain.

The platform, which is due to launch on the mainnet in September, will provide simple and reliable insurance for everyone in web3. Launching on Solana and being backed by Solana Ventures, Amulet plans to combat the ongoing issue of hacks and fraud within the industry by providing protection through insurance solutions. Starting with smart contract vulnerability insurance and moving on to stablecoin depeg insurance, Amulet will also enter the worlds of GameFi and the Metaverse.

As per Amulet’s pre-launch planning, they were keen to confirm partnerships with others who are doing incredible things within the industry and through the power of Solana.

Overview of Port Finance

Port Finance is a lending protocol that aims to provide an entire suite of fixed income products including variable rate lending, fixed rate lending and interest rate swaps.

The current variable rate product that Port Finance features variable interest rates based on supply and demand, cross collateral lending, and flash loans. Port Finance seeks to be the liquidity gateway for the Solana DeFi ecosystem through simpler user interfaces, lower collateral requirements, and adjustable liquidation thresholds based on volatility and liquidity.

This year (2022) has been extraordinary for Port Finance as they have met all expectations by smashing their roadmap targets. January saw the launch of their governance, while they have made strands in improving their product particularly with fixed-rate borrowing and interest rate swap solutions.

Partnership Highlights

Bot platform will focus on protecting users’ digital assets, collaborative marketing activities and highlighted the prospect of Solana and the ecosystem.

Port Finance have always taken their users safety as a main priority. As a result, they have been successfully audited by Bramah Systems and Kudelski security as well as a bug bounty program with Immunefi.

This partnership with Amulet will strengthen their ties to user protection. Indeed, both teams will collaborate on the ever-evolving risks involved within our industry.

“We are so excited to confirm our partnership with Port Finance. We’ve known the team a while and we’ve always been really impressed by their passion for improving security options within the industry. As another company who uses the Solana ecosystem, we have a real opportunity to do something sensational together knowing we’re using the most powerful blockchain in the world to buidl! We look forward to collaborating on different activities in the coming months.”

Rupert Barksfield, Project Lead, Amulet

About Port Finance

Port Finance is a non-custodial money market protocol on Solana. Indeed, its goals are to bring a whole suite of interest rate product. Including variable rate lending, fixed rate lending and interest rate swap to the Solana blockchain.