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Portion partners with DeFi disruptor Saffron.Finance

By Pavithra R

December 31, 2020

  • America
  • Portion
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Portion.io, a developer of blockchain-based technology for verifying and tracking the provenance of art and collectibles has announced entering into a strategic partnership with Saffron.finance, a decentralized protocol that acts as a yield optimizer for liquidity providers. The firm has also announced the go-live of its new platform.

Saffron.Finance is a decentralized protocol that programmatically optimizes yield for individuals contributing their liquidity with various predetermined tranches at different risk levels. These tranches are set to two-week epochs, where those contributing liquidity across the provided pairs receive payouts in exchange for locking their funds up for two weeks. Saffron successfully mitigates significant effects of impermanent loss by categorizing risk and return while users chose their risk level.

Additionally, the PRT governance token will be featured as a liquidity mining pair, SFI ⇔ PRT, through Uniswap on Saffron.Finance. The partnership began in Epoch 4 on December 27th with a combined reward of 25 SFI and 1,000,000 PRT. Further rewards will be available as the partnership continues on to future epochs.

“Furthermore, Portion will be promoting Saffron inspired exclusive competitions in the near future. Invitations to participate will be sent to artists on the Portion platform to create Saffron concept art. All submissions will receive 5,000 PRT while top pieces will receive further awards. The newly minted Saffron NFT’s will be distributed to the stakers on the Saffron protocol and will subsequently be sellable on the Portion marketplace,” wrote portion in its blog.

Saffron is a peer to peer risk exchange and decentralized risk arbitrage marketplace. Backed by an anonymous team, Saffron has unleashed some of the most nuanced brilliant solidity engineerings and has pushed the envelope of what was previously conceivable on Ethereum.

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