Is Reef Finance all set to create another milestone this 31st March !
What does Reef Finance holds this 31st March 2021
As new institutional and retail investors enter the cryptocurrency space on a daily basis, large-cap top performers like Bitcoin (BTC) and Ether (ETH) attract the lion’s share of investor’s attention.Their attention soon turns to smaller cap coins as they search for the upcoming projects that could be the next potential thing.REEF FINANCE — a smart liquidity aggregator and yield engine that enables trading with access to liquidity from both CEXs and DEXs while offering smart lending, borrowing, staking, mining through AI driven personalized Reef Yield Engine,Reef uses the ETH Token algorithm in the blockchain network.
REEF is a Polkadot-based DeFi platform that aims to offer cross-chain trading powered by a yield engine and smart liquidity aggregator that enables automation of the exchange process.Reef was created to make Defi easy for the community and would be the key in lowering the barriers towards Defi platforms.Remarkably Dapp developers could be replacing the existing Defi appications from ethereum to reef chain without any changing of codes or variation.Currently there are other coins that uses Reef’s ETH Token algorithm and proof-type: THETA, Chainlink, Crypto.com Coin, Aave, FTX Token, Binance USD, Dai, Chiliz, Huobi Token, Content Value Network, The Graph, Holo, Maker, Enjin Coin and SushiSwap.
ABOUT REEF CEO / CO- FOUNDER
Born in Macedonia, Mancheski said that his passion for fintech led to him being introduced to blockchain technology. He has described forming a competent team as the biggest challenge associated with bringing Reef to life.Denko Mancheski, CEO and co-founder of Reef Finance, envisioned a solution to the psychological barriers that have held back adoption of DeFi products. According to Mancheski the average person is just overwhelmed when looking at the DeFi space due to the large number of overlapping products. This makes adoption by newcomers unlikely. Mancheski has stated that at Reef their That would be a huge leap forward for the DEFI space.The underlying infrastructure of Reef is a chain of smart contracts that compose and integrate the ecosystem This is the base component of the system and is known as the “basket engine.” It communicates with the analytics engine and liquidity aggregator to allow a user the ability to enter and exit positions on multiple DEFI platforms from one easy to use interface.
WHY REEF BECOMES THE HOTTEST PICK FOR 2021
1.Governance: vote on different proposals such as releasing new features and re-adjusting certain parameters in the system.
2.Protocol fees: pay fees for operations such as entering/exiting a the basket, reallocation, rebalancing and other activities.
4.Yield Distribution: choose the payout ratio of the profit generated by the activities in your basket.
5.Strong fundamentals and new partnerships back the strong rallies in Morpheus Network, Bridge Mutual and Reef Finance.
Reef developers are keen to solve a major problem that is the high gas fees on Ethereum blockchain that are currently making DeFi unusable for many community participants.The team also hopes to help connect liquidity pools from separate networks,avoiding the need for multiple accounts which can be difficult to keep a track of.
REEF STATISTICS :-
Currently REEF is ranked 131 on coinmarketcap with a total Market Cap of $497,128,606
24 Hours Trading Volume $187,908,161.54
All-Time High recorded on Mar 15, 2021 $0.057460 -23.2%
All-Time Low recorded on Jan 13, 2021 $0.00668142 560.8%
REEF UPCOMING EVENT
On March 23,2021 Reef tweeted a major announcement about its Testnet launching on 31st March “We’re launching the Reef Chain Testnet on 31st March & we’re proud to serve as the Gateway to DeFi apps.This development marks a major milestone for REEF and brings us a step closer to our main goal of making DeFi easy”
Polkadot-based Reef Finance said trading firm Alameda Research has made a $20 million investment by purchasing REEF tokens.The firm also said Alameda Research has become a significant stakeholder in the cross-chain decentralized finance DEFI platform.However lately there was some controversy that happened with Alameda who threatened to delist REEF from centralized exchanges in order to cause damage to the project highlights that CeFi players still have a strong influence on the crypto markets.With the advent of DeFi, no centralized entity such as Alameda or anyone can destroy a crypto project. REEF has strong volume on decentralized exchanges such as Uniswap. The possibility of threats around market manipulation by CeFi players was actually the reason why they wanted to launch a DeFi platform in the first place.
Reef previously announced a $3.9 million funding last September 2020 with backing from Kenetic Capital,NGC Ventures, and others.The live Reef price today as of 30th March 2021 is $0.045078 USD with a 24-hour trading volume of $187,908,162 USD. Reef is up 18.76% in the last 24 hours.The current CoinMarketCap ranking is #122, with a live market cap of $507,982,796 USD. It has a circulating supply of 11,268,898,338 REEF coins and a max. supply of 20,000,000,000 REEF coins.
A source with knowledge of the Reef Finance investment said Alameda may soon up its REEF holdings beyond the announced $20 million which could be a groundbreaking news to hear.So here we can see all the reasons why REEF is a smart choice for investors and traders looking for trading opportunities that can be fruitful with new events and developments that the firm has on the cards and could be a great asset in the near future coming in DEFI and NFT’s
