TechFlow News — According to the official blog of Porter Finance, a DAO lending platform, it will shut down its bond issuance platform. Founder Jordan Meyer stated: "We no longer believe there will be significant borrowing demand for fixed-income DeFi products like those offered by Porter Finance. This is primarily due to competitive interest rates provided by traditional finance and the lack of institutional adoption of fixed-income DeFi over the past year. We are also no longer willing to bear the legal risks associated with bond issuance. For these reasons, Porter has decided to discontinue the bond issuance platform and explore better opportunities."
Additionally, this decision does not affect Ribbon DAO's obligations to its lenders. Ribbon DAO remains bound by its repayment commitments. The application will remain operational until all Ribbon DAO lenders have redeemed or converted their bonds.
