Announcing Liquidity Mining and the Future Road Map
Since the successful launch of our native token $PORT on August 9th we have seen steady growth of participation on the protocol; the overall spike in activity across the entire Solana ecosystem highlights the appetite for a faster, cheaper blockchain solution and we are excited to be part of such a rapidly expanding landscape!
A Brief Recap
First let’s take a quick look at what we’ve accomplished in the last few weeks and how we’ve laid the foundations for a strong step in the right direction for Port Finance and the overall Solana ecosystem:
- Over $50M+ in liquidity across all pools
- The first lending protocol to support mSOL
- The first lending protocol to support PAI
- Formed partnership with Mercurial, Party Parrot, Orca, Marinade, Symmetry, LIQ, Solscan and Raydium
- Integrated with Coin 98 wallet, Defi Llama, Coingecko and Sonar Watch
- Listed on Ascendex, DexLab, Aldrin, Serum, Raydium and Orca
The Port Liquidity Mining Program
We’re very excited to announce the unveiling of the $PORT Liquidity Mining Program, that will reward liquidity providers on the Port platform and also distribute $PORT tokens to the wider community. During the initial phase, we will release 5000 $PORT tokens per day, which is 150,000 $PORT tokens per month (equivalent to approximately over $1M USD at the time of writing).
Tokens will be rewarded on a real time basis and you will be able to harvest them anytime. The campaign will run for 1–2 months initially. Based on participation and feedback we may extend the program or update the number of tokens rewarded.
Ready to PORTicipate?
To incentivize the users who are long term believers of the protocol, we will soon be rolling out an additional on-chain reward boost mechanism for users who stake $PORT tokens, enabling them to claim an extra bonus based on the number of PORT tokens they stake!
If you are as excited as we are then let us know in the Port Telegram Community channel! If you need any further information or instructions don’t hesitate to ask — We’ll be happy to assist you in getting started!
After the roll out of the Liquidity Mining Program, we will focus our efforts in the following areas:
- Establishing a DAO for users to decide on various parameters of the protocol
- Integrating with Serum to allow for instant leverage and deleverage
- Starting work on fixed interest rate borrowing and lending
We’re full of energy for what’s yet to come and we have a lot of exciting plans in store, so stay tuned!
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. Learn more about us here.