Remora Markets

What Remora Markets does

Remora Markets was a Solana-based DeFi lending protocol that operated as a subsidiary of Step Finance, a Solana DeFi portfolio aggregator. The platform's core product supported rToken holders and offered lending and borrowing services against crypto collateral within the Solana ecosystem. Its primary user base consisted of DeFi participants seeking on-chain lending and borrowing, plus a secondary segment of rToken holders pursuing yield generation and token redemption.

The protocol functioned as a single-product layer inside Step Finance's broader portfolio, deriving distribution and ecosystem context from the parent's aggregator. It was not a standalone institution; it was positioned and operated as an affiliate venture alongside sister project SolanaFloor. No pricing, fee schedule, or monetization details are disclosed in the input.

Following a January security breach that drained approximately 261,854 SOL ($27–40 million) from Step Finance's treasury wallets, Remora Markets was forced to shut down as part of Step Finance's complete wind-down announced in late February. Step Finance committed to a redemption process for rToken holders. The company's website currently displays a "Service Not Available in Your Region" notice citing regulatory requirements, and operating status is closed.

Name

Remora Markets

Website

https://remoramarkets.xyz

Company type

Private

Founded year

2021

Operating status

Closed

Short description

Remora Markets was a Solana-based DeFi lending protocol that operated as a subsidiary of Step Finance, serving DeFi participants and rToken holders with crypto-asset lending and borrowing. It has permanently ceased operations as part of Step Finance's wind-down following a treasury hack.

Ownership category

akta.pro rank

Product category

DeFi Lending Protocol

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Decentralized Lending & Borrowing Protocols (FSADAMAA)

akta.pro secondary industry

Derivatives, Perpetuals & Options Protocols (FSADAMAC)

Keywords

• DeFi lending protocol
• Crypto borrowing market
• Tokenized stocks platform
• Solana DeFi protocol
• RToken yield protocol

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations

Core offering

Remora Markets operated a DeFi lending protocol on the Solana blockchain, enabling users to lend and borrow crypto assets and to hold rTokens for yield and liquidity. It also specialized in tokenizing traditional stocks to provide on-chain exposure. The protocol has since ceased operations as part of its parent Step Finance's wind-down.

Product overview

Remora Markets was a single-product DeFi lending protocol operated as a subsidiary of Step Finance. The platform offered a lending product supporting rToken holders within the Solana ecosystem. The company has since ceased operations as part of the broader wind-down of Step Finance following a security breach.

Differentiator

Problem solved

Functional benefit

Products and services

• Remora Markets Lending Protocol A DeFi lending and borrowing protocol on the Solana blockchain supporting rToken holders. The protocol allowed users to lend and borrow crypto assets and was operated as a subsidiary of Step Finance. The platform has since ceased operations.
• Tokenized Traditional Stocks

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Step FinancecoreOthersRemora Markets was a subsidiary of Step Finance, a Solana-based DeFi portfolio aggregator. Following the $27 million hack of Step Finance's treasury wallets in January 2025, both Remora Markets and SolanaFloor were forced to shut down as part of Step Finance's wind-down process. Step Finance is working on a redemption process for Remora rToken holders.

Recent moves4 records

Expansion highlights1 record

Direct peers

• MarginFi: MarginFi is a Solana-native lending and borrowing protocol with comparable functionality (deposits, loans, collateral management) and a similar DeFi user persona to Remora Markets.
• Drift Protocol: Drift is a Solana-based derivatives and perpetual futures protocol. Several sources describe Remora Markets as a 'derivatives protocol,' placing it in the same Solana on-chain derivatives category.
• Mango Markets: Mango Markets is a Solana-based DeFi platform offering lending, borrowing, and derivatives trading — overlapping Remora's stated lending/derivatives functionality on the same chain.
• Solend: Solend is the largest lending and borrowing protocol on Solana, offering the same core product (crypto asset lending against collateral) to overlapping DeFi user segments that Remora Markets targeted.
• Kamino Finance: Kamino operates lending markets and automated liquidity strategies on Solana, directly competing in the same DeFi lending vertical as Remora Markets for the same pool of Solana DeFi users.

Broad incumbents

• Compound: Compound is a foundational DeFi lending protocol. It competes in the same horizontal lending category as Remora but serves Ethereum and other EVM chains at much larger scale.
• Aave: Aave is the dominant decentralized lending protocol across multiple chains. While not Solana-native, it sets the product benchmark for the lending/borrowing functionality Remora offered.
• Step Finance: Step Finance was Remora's parent company and a Solana DeFi portfolio aggregator. Although now defunct, it is the closest corporate and ecosystem peer, sharing infrastructure, treasury, and user base.

Emerging players

• Ondo Finance: Per Remora's short description, the protocol 'specializes in tokenizing traditional stocks.' Ondo is a leading real-world asset tokenization platform, making it a directional peer for that stated capability.
• Backed Finance: Backed Finance issues tokenized traditional securities (stocks, ETFs) on-chain — directly comparable to Remora's stated mission of tokenizing traditional stocks in a DeFi wrapper.

Market position

Strengths2 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights3 records

Customer concentration

• Xx.com/remoramarkets

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Remora Markets