Defi protocol closes down bond issuance platform after just one month
Regulatory risks and better interest rates from traditional loans led the company to shut down its bond platform
By Shashank Bhardwaj
Image: Shutterstock
Porter Finance, an Ethereum-based DeFi protocol, on Tuesday announced that it was shutting down its bond issuance platform. The service made it possible for decentralised autonomous organisations (DAO) to issue bonds to raise funds and pay customers returns in return. Compared to loans, these bonds offered a flexible, long-term lending choice with benefits.
The move comes amid the falling crypto prices as concern about a recession brews among broader equity markets. Porter Finance said, "Looking forward, we are not confident there will be large inflows of lending demand for fixed income DeFi products like the ones offered through Porter Finance.“

Czech prince William Rudolf Lobkowick is preserving heirlooms from his family's 700-year-old legacy using NFTs
Read More..
CryptoPunks' trading volume surges 1,847% after Tiffany & Co. launches exclusive NFT collection
Read More..
CoinDCX's India entity FY21 profit jumps nine-fold to Rs 4.36 crore, revenue rises to Rs 38.91 crore
Read More..
KuCoin raises $10M amidst the bear market; announces plan to support Indian Web 3 startups
Read More..
Crypto market stuck for now, but Bitcoin to make new all-time-highs within 24 months: Coinshares' CSO
Read More..
Mythical games enters a strategic partnership with NFL to launch play-and-own NFT video game
Read More..
CoinDCX offers an opportunity to its users to generate crypto yield on crypto assets through it's 'Earn feature'
Read More..
Backed by Shark Tank's Kevin O'Leary, WonderFi set to acquire Canadian exchange Coinberry
Read More..
Crypto and Blockchain as a catalyst for change by Sumit Gupta Co-Chair BACC, CEO and Co-Founder, Coindcx
Read More..