Reef is a DeFi platform built on Polkadot, aimed at providing cross-chain transactions. Among its offerings are a yield engine and a smart liquidity aggregator.
Reef consolidates liquidity and provides automation. It also aims to address the disadvantages associated with existing trading platforms. According to Reef, while centralized exchanges are prone to security breaches, decentralized counterparts might lack liquidity and are often difficult to use.
What is Reef (REEF)?
Reef (REEF) is the native cryptocurrency of the Reef platform. It targets both current DeFi users struggling to keep up with the best investment strategies and new users. The company also aims to overcome the high transaction fees seen on the Ethereum blockchain. Some claim this makes DeFi protocols unusable.
Reef’s unique features, as stated, are linked to how they can be integrated into any DeFi protocol’s operating system. Users can enter and exit positions with a single click, eliminating some of the difficulties associated with managing liquidity pool tokens.
Moreover, due to its construction on Polkadot, Reef can support DeFi protocols on Avalanche, Moonbeam, Plasma, as well as Ethereum and Binance Smart Chain. Consequently, Reef users can access a broader range of platforms without needing multiple accounts and numerous usernames and passwords, which can be hard to track.
Furthermore, the platform’s own cryptocurrency REEF offers users the following advantages:
- Governance: Users can vote on different proposals such as releasing new features and reconfiguring certain parameters in the system.
- Protocol Fees: Users can take advantage of paying all transaction fees on the platform with REEF.
- Staking: Staking can be done in different pools with REEF.
- Yield Distribution: Users can choose the payout ratio of the profits generated by the activities in their baskets.
Reef was founded by Denko Mancheski. Mancheski’s motivation in creating the project was to remove the technical barriers for individual investors wanting to get involved in DeFi and to offer a simple decision-making process taking into account the user’s appetite for risk.
REEF Coin Review
REEF Coin has drawn attention, especially after its listing on Binance. Additionally, the growing interest in the DeFi ecosystem seems to be increasing interest in Reef. However, a review of the REEF chart indicates investors’ indecisiveness towards REEF.
How to Buy Reef Coin?
Reef Coin can be securely and swiftly purchased through Binance, the world’s largest cryptocurrency trading platform in terms of trading volume.
Reef Coin was launched on the Binance Launchpad on December 22, 2020.
