No. Bonds, in traditional finance, are senior in the capital structure to equity holders. This means if a company fails to repay debt, they can be taken through a legal process called bankruptcy where their assets are sold to repay creditors. This process relies on legal agreements and law enforcement entities to enforce said legal agreements. However, DAOs don't exist within the bounds of most, if any, legal systems in their current state. Therefore, the enforceability of legal agreements they sign is uncertain and risky. Instead of using legal contracts, Porter uses smart contracts built on Ethereum to enforce agreements made between lenders are borrowers. This is why we refer to Porter bonds as "DeFi bonds".