Amulet, the first DeFi risk protection company being built on Solana, has confirmed its long-term partnership with Port Finance, the first non-custodial liquidity protocol also built on the Solana blockchain.
Amulet is delighted to confirm its second partnership within a week with another giant of the Solana ecosystem, Port Finance.
Amulet, which is due to launch on the mainnet in September, will provide simple and reliable cover for everyone in web3. Launching on Solana and being backed by Solana Ventures, Amulet plans to combat the ongoing issue of hacks and fraud within the industry by providing protection through protection solutions. Starting with smart contract vulnerability cover and moving on to stablecoin depeg cover, Amulet will also enter the worlds of GameFi and the Metaverse.
As per Amulet’s pre-launch planning, we were keen to confirm partnerships with others who are doing incredible things within the industry and through the power of Solana.
Port Finance is a lending protocol that aims to provide an entire suite of fixed income products including variable rate lending, fixed rate lending and interest rate swaps.
The current variable rate product that Port Finance features variable interest rates based on supply and demand, cross collateral lending, and flash loans. Port Finance seeks to be the liquidity gateway for the Solana DeFi ecosystem through simpler user interfaces, lower collateral requirements, and adjustable liquidation thresholds based on volatility and liquidity.
This year (2022) has been extraordinary for Port Finance as they have met all expectations by smashing their roadmap targets. January saw the launch of their governance, while they have made strands in improving their product particularly with fixed-rate borrowing and interest rate swap solutions.
Both companies have decided to confirm their partnership which will focus on protecting users’ digital assets, collaborative marketing activities and highlighted the prospect of Solana and the ecosystem. More will be announced in due course with regards to this.
Port Finance have always taken their users safety as a main priority. As a result, they have been successfully audited by Bramah Systems and Kudelski security as well as a bug bounty program with Immunefi.
This partnership with Amulet will strengthen their ties to user protection and both teams will collaborate on the ever-evolving risks involved within our industry.
“We are so excited to confirm our partnership with Port Finance. We’ve known the team a while and we’ve always been really impressed by their passion for improving security options within the industry. As another company who uses the Solana ecosystem, we have a real opportunity to do something sensational together knowing we’re using the most powerful blockchain in the world to buidl! We look forward to collaborating on different activities in the coming months.”
Rupert Barksfield, Project Lead, Amulet
About Port Finance:
Port Finance is a non-custodial money market protocol on Solana. Its goals are to bring a whole suite of interest rate product including variable rate lending, fixed rate lending and interest rate swap to the Solana blockchain. The current variable rate product features variable interest rates based on supply & demand, cross collateral lending, and flash loans.
The fixed-rate lending product uses the model of zero-coupon bond. We allow lender to lend at a fixed rate and allow borrower to take on fixed-rate, fixed-term loan. Port Finance seeks to be the liquidity gateway for the Solana DeFi ecosystem through simpler user interfaces, lower collateral requirements, and adjustable liquidation thresholds based on volatility and liquidity.
Port’s native token will enable users to participate in governance and share in protocol fees derived from all protocol products.
Join Port Finance community:
Website | Twitter| Telegram | Discord
About Amulet:
Amulet is a decentralized risk protection protocol built for the Rust-based ecosystem, starting with the Solana blockchain. Amulet has designed an innovative and open cover model, which not only effectively addresses the common challenges of existing decentralized cover protocols, but also creates a new paradigm shift for the whole risk protection sector.
Amulet is creating the industry’s first Protocol-Controlled Underwriting (PCU) approach, in which Amulet will build up its own underwriting capabilities and introduce a claim structure involving a unique Yield Backed Claim (YBC) method. This is a significant deviation from the incumbent cover models of renting underwriting capability from capital providers to a more sustainable underwriting and claim structure controlled by the protocol. The vision of Amulet is to offer simple, reliable cover for everyone in Web3. With the addition of Amulet, users in the entire Rust-based ecosystem will gain access to a new way to hedge various risks with cover product offerings.
Join Amulet community: