What is Reef Finance ? A Quick Overview

Written by Sushanth Kumar Reddy Kura | Published 4 months ago | 9 min read

   


In the current decentralized finance ecosystem, we usually hear a lot of DeFi aggregators. DeFi aggregators like Curve protocol etc aggregate the services into a single platform from various protocols like Compound Finance, Uniswap, etc making it easier for the users. But the problem with the current aggregator protocols is they only support few products mostly fixed to layer 1 blockchain.

Due to this, the users will only be able to access or take advantage of very few projects/protocols. Users also tend to bounce from one project to another based on yield. Also, centralized exchange users often don’t interact or don’t have enough knowledge to interact with decentralized applications by which they are losing a lot of great yield farming or profit-making opportunities. 

This is where Reef comes into play. Reef is a permissionless AI-powered liquidity aggregator that can be integrated with centralized as well as decentralized exchanges. Reef being powered by Polkadot enables cross-chain integrations across top decentralized finance or DeFi protocols.


Main Features of Reef Platform


1. Reef Trading Terminal

Users will be able to trade assets via the Reef trading terminal which utilizes the atomic bridge of the Polkadot for enabling trading. Reef will integrate the liquidity from the existing DEXes (decentralized exchanges). Reef by integrating with the existing centralized exchanges allows users to participate in the DeFi with ease and safety.

Reef Finance

2. Reef Yield Engine

Reef basically gives users baskets where they can deposit the tokens and Reef Yield Engine which is powered by artificial intelligence maximizes the yield/profits. The operations performed by the yield engine may include lending, borrowing, mining, etc. Users will be able to onboard their tokens easily as the reef platform will be compatible with major liquidity providers and wallets.

Reef Yeild Engine

Some of the Major Partnerships, Collaborations, and Integrations of Reef


1. Polkadot

Reef is powered by Polkadot, hence inherits the properties of it. As we all know Polkadot is known for its interoperability and scalability. Using this interoperability mechanism of the Polkadot Reef plans to integrate with a maximum number of protocols whether it be centralized or decentralized applications and provide the best yielding strategies for the users.

Also by using the Polkadot ecosystem Reef will be able to make use of a highly scalable network where there will be no network congestion unlike Ethereum and even the transaction costs will be very less.


2. Chainlink

Recently Reef has partnered with the top oracle project of the crypto space, Chainlink. Reef will make use of the Chainlink’s high-quality price feeds denominated in both Ethereum and Polkadot ecosystem for performing operations like trading, lending, borrowing, Provide valuations for AMM, etc.


3. Binance

Reef integrated with the world’s biggest exchange cryptocurrency exchange Binance for enabling crypto purchases using FIAT currencies and do trading via Reef in a non-custodial manner. The users will be able to directly execute trades in Reef (Binance brokerage integration will be called for making trades).

This integration with Binance Access will also allow users to directly buy crypto with the help of a credit card. Reef also plans on offering Binance Chain Support in the future which will unlock more features.


4. Matic

Reef will also work with the best and most used layer 2 scaling solution currently i.e. Matic. With this partnership Reef will be able to scale massively allowing fast, secure, and extremely low-cost transactions.

This partnership will also lead to Ethereum layer 2 integration with the Polkadot ecosystem. As Matic massively scales the Ethereum blockchain and a highly scalable interoperability bridge between Ethereum and Polkadot can be created.


5. Kava

Kava being the first DeFi project on the Cosmos ecosystem which also focuses on interoperability will allow Reef users to get access to the yield opportunities and collateralized loans present on the Kava’s platform. This partnership will. Ring more features to the Reef Finance ecosystem and users of Reef will also be able to access USDX (Kava’s stable coin).

Reef is working on integrating different stable coins from a different type of blockchains which will give its users various opportunities to lend or borrow.

Reef has made a huge number of collaborations in the crypto space which will help in bringing more features and better experience to the Reef Platform. You can refer to the image below to get a quick overview of the Reef partnerships, Collaborations, and integrations.


Reff Finance collaborations


$REEF Token


$Reef is the native token of the Reef Finance and it has the following use cases :


1. Governance

Using $REEF users will be able to vote on different proposals which may be related to the release of some new features or adjusting any kind of parameters inside the Reef Platform.


2. Staking

Users will be able to stake $REEF tokens on different platforms and earn some juicy interest on it.


3. Protocol Fees

$REEF token will be used to pay the fee for executing various operations on the platform like entering or exiting a basket allocation, rebalancing, reallocation, and many other activities.


4. Yield Distribution

With the help of $REEF, token users will be able to choose the payout ratio of all the profit generated by performing various activities(lending, borrowing, etc) in their allocation basket.


If you are interested in buying $REEF, It is currently available on the World’s biggest cryptocurrency exchange Binance with $USDT and $BTC pairs. 


Conclusion


Reef is definitely a one of a kind protocol that is being developed on of the best blockchains, Polkadot. The fact that it is user friendly and at the same time focuses on maximizing the profits for the users is absolutely amazing. Inheriting the Polkadot properties Reef will be able to integrate with several number of blockchain in the near future.

It integrates with the CEXes and DEXes thereby enabling increased liquidity for asset managers and traders. Also, Reef is the first Polkadot launchpool to be listed on Binance. This fact itself speaks a lot about Reef. Not to forget Reef also managed to raise $3.9 Million dollars in their seed funding round from the top venture capital firms which is really huge.

Reef seeding founding

Reef has a very strong team that consists of serial entrepreneurs and the best minds in the blockchain space who also have tremendous experience in finance, engineering, and cryptography. Their CEO Denko Mancheski is always active and updates the public with ongoing developments on the platforms on regular basis. Overall Reef is a project that definitely should be on everyone’s radar.


A Quick Overview on Reef Finance


A Quick Overview of Reef Finance



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