Porter Finance
The web’s fastest growing binary options trading platform.
| USD | 2022 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
Related Content
Porter Finance was a decentralized finance (DeFi) protocol built on the Ethereum blockchain. The company provided a platform for Decentralized Autonomous Organizations (DAOs) to issue bonds, enabling them to borrow at fixed interest rates without the risk of liquidation. This was achieved by allowing DAOs to use their native project tokens as collateral to mint and sell zero-coupon bonds to investors.
The protocol aimed to address the need for credit within the crypto space, offering a way for DAOs to raise funds without having to sell their governance tokens. However, Porter Finance shut down its bond issuance platform in July 2022, shortly after its launch. The closure was attributed to a lack of significant lending demand from DAOs, which made the platform's continuation unsustainable.
Prior to the shutdown, the project had successfully raised $5 million in a seed funding round. The platform's business model was designed to facilitate a credit market for the growing number of DAOs in the Web3 ecosystem.
Keywords: Decentralized Finance, DeFi, Credit Protocol, DAO, Bond Issuance, Ethereum, Crypto Lending, Web3, Blockchain, Digital Assets