PRESS RELEASE. AscendEX, a worldwide cryptocurrency monetary platform with a complete product suite, is worked up to announce the Port Finance token (PORT) beneath the pair USDT/PORT on Aug 9 at 2 p.m. UTC.
Port Finance is a money-market, non-custodial liquidity protocol on Solana. They intention to supply a complete suite of lending merchandise, together with variable-rate lending, fixed-rate lending, and rate of interest swap. Their concept is to make the most of the expansion in measurement and functionality of the Solana community.
Port Finance brings rate of interest markets to the Solana ecosystem. It leverages the Solana blockchain’s excessive velocity and low latency with a product suite that features variable price lending, fixed-rate lending, and rate of interest swaps. Port Finance takes a three-step method; they supply a baseline lending protocol just like Compound and Aave on Ethereum. Secondly, they launch a set price lending protocol that makes use of the Serum order e book. And eventually, they construct out an rate of interest swap market that makes use of the Serum order e book.
Their focus is on leveraging the technological developments of the Solana blockchain and the Serum ecosystem to deliver lending merchandise to the market which are troublesome to implement on Ethereum. By using the Solana blockchain’s low latency community, Port Finance will enable the person to borrow extra with the identical quantity of collateral in comparison with Ethereum merchandise comparable to Compound and Aave.
Sooner or later, they plan to launch fixed-rate borrowing using the Serum order e book. This can enable the person to determine on a borrowing price utilizing a dwell market as an alternative of a bond curve whereas additionally offering a set rate of interest product. As well as, the native token PORT is utilized as a governance token and to share protocol charges with a purchase and burn course of.
The staff is made up of tech and finance veterans with sturdy technical backgrounds having beforehand labored at corporations comparable to Google, Fb, Microsoft, and buying and selling corporations. The staff met in London whereas learning Pc Science at Imperial School. The staff has additionally contributed to Solana and Serum open-source code improvement.
AscendEX (previously BitMax) is a worldwide cryptocurrency monetary platform with a complete product suite together with spot, margin, and futures buying and selling, pockets providers, and staking help for over 150 blockchain initiatives comparable to bitcoin, ether, and ripple. Launched in 2018, AscendEX providers over 1 million retail and institutional shoppers globally with a extremely liquid buying and selling platform and safe custody options.
AscendEX has emerged as a number one platform by ROI on its “preliminary trade choices” by supporting among the business’s most revolutionary initiatives from the DeFi ecosystem comparable to Thorchain, xDai Stake, and Serum. AscendEX customers obtain unique entry to token airdrops and the flexibility to buy tokens on the earliest potential stage.To study extra about how AscendEX is leveraging finest practices from each Wall Road and the cryptocurrency ecosystem to deliver the most effective altcoins to its customers, please go to www.AscendEX.com.
For extra data and updates, please go to:
Web site: https://ascendex.com
About Port Finance
Port Finance is a money-market, non-custodial liquidity protocol on Solana. They intention to supply a complete suite of lending merchandise, together with variable-rate lending, fixed-rate lending, and rate of interest swap.
For extra data and updates, please go to:
Web site: https://port.finance/
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