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What is Reef Finance and the REEF token?

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Avatar for PVMihalache
Written by   847
11 months ago

Reef Finance was introduced to the world through the Binance Launchpool. It was then when I had a quick glance at the project and decided to stop farming FAN tokens and move all-in into the REEF pools!  

Binance added Reef Finance (REEF) as the 11th project and users can use Binance Coin (BNB), Binance USD (BUSD) and Polkadot (DOT) to farm REEF tokens,which ended on the 21st of January 2021. 

I embraced the project and rush-farmed about 1000 tokens with BNB only, adding more from the Polkadot and Binance USD pools. I sent 1700 to PancakeSwap, to put them to work, but this is a story for another day!

What is Reef Finance?

The project is defined as a multi-chain smart yield engine and liquidity aggregator. It can be integrated in all types of DeFi protocols, giving retail investors access to the DeFi ecosystem with a low technical entry barrier. Reef Finance will link DeFi trading, landing and staking, simplifying the process. Decentralized exchanges will benefit from the Reef Network, and will access liquidities easier while traders and businesses will have the opportunity to join staking, mining and yield farming.  Reef will attract liquidity from both sectors, DeFi and CeFi.

The Reef Ecosystem will use REEF, the native utility token for governance, protocol fees, staking and yield distribution. Reef a non-custodial and decentralized network, therefore will be governed 100% by REEF token holders via DAO, aiming to achieve a transparent future. The protocol fees such as staking, reallocation will be paid with REEF tokens, while the payout for yield will be generated in the same way.

REEF Total Token Supply is 20,000,000,000 tokens, and 3% (600,000,000 tokens) are currently distributed through the Binance Launchpool. The prokect integrated Chainlink (LINK) to power up the cross-chain protocol and in November announced the Binance Access integraton. In December, Reef Finance joined the Polkadot DeFi Alliance and had a Halborn security audit. All this steps of the RoadMap helped the project to grow and gain popularity.

Reef secured many top partnerships, which will add value and consistency to the project. Matic will help Reef Finance scale the DeFi platform, enabling payment settlement on-chain. KAVA Labs will provide users with features and services, such as access to collateralized loans. Chainlink Reference Data Oracle Networks will power the cross-chain smart asset management platform, while Covalent’s unified API will provide users with more advanced portfolio analytics. Reef Finance started 2021 with more developments and integrations, and a partnership with Avalanche.

Resources:

Project Links Website: https://reef.finance/

Medium: https://medium.com/@reefdefi

White Paper: https://reef.finance/resources/ReefLitePaper_v100c.pdf

Twitter: https://twitter.com/reefdefi

Telegram Announcements: https://t.me/reefannouncements

Telegram Community: https://t.me/reefdefi

Reef Finance joins Binance Launchpool

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Avatar for PVMihalache
Written by   847
11 months ago
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Comments

can you give an example what REEF is doing? I have 100 USDC. Can they be used with REEF protocol? Or what is missing? This is the first step. The entrance. The second - what is happening? REEF is searching for the best option to place your money for better reward?

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11 months ago