Do you have a token?

We have not launched a token. However, when we do, early users and partners will be compensated.

Are Porter's DeFi bonds the same as TradFi bonds?

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".

How is Porter different than OlympusDAO?

Although OlympusDAO uses the term "bond", they are not selling bonds. Bonds are debt securities, under which the issuer owes the holders a debt and (depending on the terms of the bond) is obliged to pay them interest (the coupon) and to repay the principal at a later date, termed the maturity date. OlympusDAO's bonding mechanism does not require principal to be repaid and therefore can be simplified to selling tokens at a discount with a lockup period. From the OlympusDAO's documentation: [Bonding] allows Olympus to acquire its own liquidity and other reserve assets such as LUSD by selling OHM at a discount in exchange for these assets.

How is Porter Convert different than UMA Range Tokens?

Similar to the OlympusDAO bonds, UMA Range Tokens do not require principal to be repaid. Therefore, when a DAO sells a Range Token, they are not borrowing, they are selling their project tokens with more or fewer tokens being sold depending on the price of their project token at the settlement date.