Port Finance has raised 5.3M Strategic Series A Round led by Alameda Research along with investments from Spartan Capital, Brevan Howard, a41, and a number of angel investors.

They strongly believed that this will cement further development of Port Finance to realize its objective of becoming an integral part of Solana’s liquidity layer.

Quarterly Recap

• Launched Fixed Rate Lending Products, Sundial
• Launched Port Finance Variable Rate Lending Products
• Record of over 300M of assets in Total Value Locked (TVL)
• 30+ Integrations and Partnerships across the Solana ecosystem
• Support for over 10+ keystone assets, including mSOL, PAI, UST, Wormhole wrapped assets and LP tokens
• Launch of Port Finance’s Ecosystem Fund
• Release of Developer Tool Kits to support Solana developers
• Listed on FTX, Ascendex, Gate.io, DexLab, Aldrin, Serum, Raydium and Orca

What’s Next?

✔️ Extending Fixed Rate Lending Products

Port Finance has always been to bring a suite of interest rate products to Solana. They have launched their March 2022 USDC fixed-rate lending for their users. Port Finance’s next phase of development will be focused on extending its Fixed-Rate Lending Products to support more assets and also enabling fixed-rate borrowing against collateral.

✔️ Ecosystem Integrations

Composability is core to Decentralized Finance and it will bring that to Port Finance with their full suite of developer tool kits. The launch of the Port Finance Ecosystem Fund aims to incentivize developers to integrate with the Port via grants.

✔️ Governance

As the Port Finance protocol matures, they aim to establish a formalized DAO. As depicted in their genesis roadmap, the PORT token will serve as a core to align a shared vision across all stakeholders in the Port Ecosystem. They aim to layout the initial foundation of governance mechanisms to kickstart governance initiatives, community participation, incentive structures, and more, progressively moving towards their goal of full decentralization.

Port Finance’s Strategic Series A fundraise forges key partnerships for the protocol and provides it the resources to invest in building bigger, better, and more secure money market products for our users.

About Port Finance

Port Finance is a decentralized Money Market protocol on Solana, aiming to provide a full suite of lending products including but not limited to variable-rate lending, fixed-rate lending, and interest rate swaps. Port Finance’s team brings engineering experience from tech companies like Google, Facebook, and Microsoft, and previous contributions to Solana and Serum.

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