Porto Labs is building a bridge-resistant DeFi ecosystem.
Porto’s initial product is a Sui-native synthetic assets protocol. Users will be able to mint pAssets like pBTC, pETH, and pUSD. Each pAsset tracks the price of its underlying; for example, pUSD tracks the price of the U.S. Dollar, pETH tracks the price of ETH, etc.
To mint a pAsset, users must lock up SUI or Sui-native assets as collateral.
pAssets can be used for a number of purposes including:
- Held to gain exposure to the price of the underlying
- Traded at up to 20x leverage with no slippage
- Used to buy and sell options on the underlying against a pool of liquidity