Porter Finance, an Ethereum-based DeFi credit platform, announced that it has shut down its bond trading platform. The DeFi brokerage firm cited a lack of lending demand from the DeFi ecosystem as the reason for closing its bond issuance platform.
Jordan Meyer, Porter Finance founder, confirmed the news, saying that the binary options broker will shut down its bond issuance platform. The executive stated on Tuesday: "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."
Meyer identified the competitiveness of rates being offered in traditional finance and the "lack of institutional fixed income DeFi adoption over the previous 12 months" as the reasons that have influenced Porter Finance to close its bond issuance platform.
Meyer added that the platform was also intended to avoid legal risks with the move: " We are no longer willing to take on the legal risk associated with...
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