Porter Finance platform closes service for issuing cryptocurrency bonds – Bits Media

Porter Finance credit platform on the Ethereum blockchain announced the termination of the bond production service. The reason was a lack of demand for services by Defi projects.

The service allowed projects in the field of decentralized finance and decentralized autonomous organizations (DAO) release bonds on the blockchain and use them to raise funds in exchange for domed income to holders. This long -term method of lending and at the same time considers investing more familiar compared to traditional loans in the field of Defi.

However, the developers reported their uncertainty in that, that in the foreseeable future there will be a noticeable influx of funds in such products. Especially, that the income level was comparable to indicators in the markets of traditional finance. Besides, Institutional investors are still shocked by Defi spheres. Therefore, the leadership of Porter Finance decided to refuse to support the service.

“Also, we do not want to take on legal risks to be participants in the offer of such securities. Therefore, we stop providing a bond production service and look for new opportunities ", - said the founder of Porter Finance, Jordan Meyer (Jordan Meyer).

Meyer emphasized, that Ribbon DAO bonds remain relevant and the company will pay investors all the rewards due.

Previously former CFTC chairman Timothy Massad (Timothy Massad) stated, that the market for cryptocurrency lending needs effective regulation.