Polkadot Network begins launching Parachains, today we focus REEF FINANCE
Polkadot has been on everyone's mind of late and as the weeks go by alot more people are buying in. Still a new block chain they have seen significant market attraction from investors and developers alike.
In this blog post I will focus on one of their latest parachains which is being dubbed the ultimate cross chain Defi asset.
What is Reef Finance?
Reef Finance allows enables cross chain integration of any Defi project through it's multi chain smart yield engine by its liquidity aggregator.
In short Reef Finance is created ease of access and ease of use by listing all Defi staking products on it's interface and will allow users to choose what they want to yield farm in, all in the one place.
If you've read my previous blogs you would have heard me always say investors or tech users want ease of access and ease of use. This model will no doubt see Reef Finance dominate the sector.
Reef Finance will also contain a number of categories for each Defi project making it a one stop shop for anyone and everyone new or old to the sector.
It aims to take the guess work out of looking for products.
It further aims to cut the cost of GAS fee through its own native currency Reef.
Polkadot interoperability coming to life
Reef will be the first project to provide us with a glimpse of Polkadots power. It's parachains allow for interoperability which means Reef finance can connect to DEX, CEX pools to unleash the ultimate liquidity pool. Imagine being able to purchase from coinbase, Binance, Haboui, Uniswap, Pancake swap all in the one place!
It can also connect to multiple yield farming chains allowing you access to the best returns in the one spot.
Reef is a massive project waiting to blow up and it will be the first to bring us the power of parachains. Minus the fees!
Furthermore it's current token also provides governance abilities.
Whats new?
Imagine HODL coins and their just sitting there in your wallet, you know that there are all these yield farming initiatives but have no idea what to do or how to access them.
If only there was an AI that was supporting you by providing you a list of different places to jam your tokens and get access. But not just even listing all the places but running an analysis of your position and making recommendations for you to select inorder to maximise returns.
Guess who's got that, REEF!
**So what's the price? **
Now before we all go throwing a lot of cash at this, we need to remember that Block Chain tech has just changed. I'll follow up with another blog tomorrow about L1 and L2 tokens and how things are now shifting.
But I can't see Reef Finance making it's way to Yearn Finance level. It's not designed with that in it's sights. It's aim is to bring interoperability and to do that it needs to have alot of tokens as its tokens cover the fees.
As a result there are 8.95 Billion tokens currently trading at $0.03c. That's not to say it can't increase but just remember it's focus is on the user and ease of access.
Opinion
This is it peeps, we've just hit the mainstream adoption. Ease of access and ease of use is about to hit.
With it, the total sector is going to explode. Hope you've laced up your boots and strapped yourself in. The masses are about to arrive.