Reef launches support for Avalanche platform


The launch of the Avalanche-Ethereum Bridge will enable DeFi users to leverage Avalanche’s low costs and fast transaction speeds

Avalanche announced yesterday a new integration with Reef that will enable users to access decentralised finance (DeFi) applications in the Avalanche ecosystem directly through the Reef platform.

With new apps and opportunities popping up every day, staying on top of all the crypto trading and yield opportunities, especially in DeFi, can be a difficult and chaotic task.

However, instead of DeFi users having to use a different project’s app for every different use case, Reef provides an aggregation solution. As the first cross-chain DeFi operating system, Reef allows users to access liquidity from both centralised and decentralised exchanges with its smart liquidity aggregator, and its AI driven personalised Reef Yield Engine enables Reef to offer staking, mining, smart lending and borrowing.

Powered by Polkadot, Reef Finance received attention last month as one of the new projects added to Binance Launchpool, and Binance opened trading on the REEF/USDT and REEF/BTC trading pairs a week ago.

The latest blockchain platform to be integrated with Reef is Avalanche, along with Ethereum and Binance Smart Chain, meaning DeFi users will now be able to use all the solutions across these blockchains seamlessly.

Avalanche’s Ethereum Virtual Machine (EVM) currently processes transactions at 0.00000047 AVAX, demonstrating the possibility of a future where the smooth moving of assets is not hampered by high gas costs, and DeFi users will be able to leverage Avalanche’s low costs and fast transaction speeds upon the launch of the Avalanche-Ethereum Bridge.

“Reef’s users will be able to seamlessly invest in baskets of cryptocurrencies and DeFi activities running on Avalanche.” Reef Finance CEO Denko Mancheski explained. “By abstracting away the complexities of using order books and learning how different protocols work, Reef gives the retail investor access to the DeFi landscape with a very low technical barrier of entry and additionally augmenting the decision-making process based on the user’s risk levels.”

Traders will have more investment opportunities as the basket engine enables Reef to support AVAX affiliated tokens and financial primitives. The stablecoin yield farming basket will allow Reef users to earn higher interest in stable currencies based on AVAX, as well as channelling capital into Avalanche and maximising savings.

Reef’s new partnership with the Avalanche ecosystem will help with its goal to give users access to the best liquidity sources. Reef intends to roll out initial features starting early in the first quarter of 2021.

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Previous Post

ETH climbs above $3k due to huge institutional demand

Next Post

Crypto tax guidance is a priority for the IRS

Related Posts