What is Reef – Troubleinthepeace


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What is Reef Finance (REEF)?

Reef Finance is a cross-chain system of DeFi products and services. Like a general store, you can view the most popular DeFi services in a single platform.

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Through smart contracts, Reef Finance aggregates the liquidity provided by the markets it is linked to. It also runs a yield engine that connects crypto buyers and sellers with different liquidity pools offered by exchanges and DeFi spaces.

Reef Finance gives retail investors access to the DeFi scene with a low technical barrier to entry while enhancing user risk-based decision making.

What problem does Reef Finance solve?

When it comes to decentralized finance (DeFi), the common difficulty faced by users stems from the issue of interoperability. In order for DeFi users to take advantage of the different products that can meet their needs, they will have to interact with a variety of standalone applications. Reef Finance solves that problem.

Reef Finance is a project that aims to aggregate all these commonly requested services. Not only does it give users easy access to various DeFi-based products, but it also simplifies the entire experience.

Through Reef Finance, users can buy, trade, staking and even borrow digital assets, all on a single platform.

How does Reef Finance solve the problems?

The way it works and the set of products from the project say it all. Let’s see how it works first.

How does Reef Finance work?

Same as in the concept, but I will add some of the following features:

For starters, there is a crypto asset management function on the platform that is controlled by AI. This service is also customizable. Furthermore, it corresponds to different types of risks that can meet the financial goals of the user.

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Reef Finance is a non-custodial platform. That means users don’t have to worry about private keys. And because it is powered by Polkadot, it also enjoys top-level security that is resilient from attacks. Basically, the chances of their funds being stolen from the platform are pretty low.

Now see what products from Reef can meet?

Reef Trading Terminal

Reef Finance uses Polkadot technology, the atomic bridge, to aggregate the liquidity of linked DEXs across its ecosystem. This makes the largest decks like Binance, Huobi or OKEx accessible on Reef’s platform.

With access to centralized exchanges – CEX, users can enjoy greater liquidity.

Reef Yield Engine

Reef simplifies yield farming. Should read the article:

It is a complex service but a highly profitable asset management activity in DeFi. Anyone can stake in different baskest assets and earn yield reward.

It also allows them to automate DeFi services such as lending, borrowing and mining. Users can access AI for this and configure its algorithms based on their needs and goals.

Reef Intelligence Engine

What should be emphasized is the AI ​​and machine learning functionality that powers Reef finance’s automated services

Reef Intelligence Engine is an off-chain oracle that provides data for authorized smart contracts in the platform:

Basically, it reliably collects data off-chain and feeds it to smart contracts so that they can function correctly. It monitors various metrics, social media data, news, on-chain data , to generate detailed information.

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Reef Engine uses the data coming from this function to manage assets and identify investment opportunities. In this way, the theory can generate profitable allocations across multiple baskets of assets while keeping in mind their level of risk.

What is REEF token?

Reef is the unity token, native of the Reef Finance platform. It can be used as a medium of exchange, but some of its key functions within the platform include powering the reward structure for the protocol and its governance mechanism.

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Basic information of REEF

TickerToken typeToken StandardInitial Circus. SupplyTotal Supply

REEF
ERC-20
Unity token
3,965,900,953 REEF
20,000,000,000 REEF

Allocate REEF tokens

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Release schedule

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REEF Finance token sale

Seed Sale Allocation: 1,428,571,429 REEFSeed Sale Token Price 0.00070 USD/REEFSeed Sale Amount Raised: 1,000,000 USDStrategic Sale Allocation: 1,666,666,667REEF Strategic Sale Token Price: 0.00090 USD/REEFStrategic Sale Amount Raised: 1,500,000 USDPrivate Sale Allocation: 1,120,000,000 REEFPrivate USD Token Price: /REEFPrivate Sale Amount Raised: 1,400,000 USD’

What is REEF token used for?

Governance: Vote on various proposals such as releasing new features and re-adjusting certain parameters in the systemProtocol fees: Pay for operations like enter/exit from basket, reallocate, rebalance and othersStaking : Stake into different pools to earn interest with priority APR.Yield Distribution: Choose the payout percentage of the profits generated by the activities in your basket

Which exchange is REEF traded on?

Other exchanges will be updated with information later.

Which wallet is safe to store REEF in?

This is an ERC-20 token so it’s pretty easy to find a suitable wallet such as: Trustwallet, Ledger Nano X, MyEtherWallet, MetaMask.. Or you can store it directly on the exchange where you bought that token. Remember to enable full security.

The Future of Reef Finance (REEF)

For a long time, many developers in the DeFi space have sought to make their services easy to understand and meet the needs of users. While this is a welcome development for the entire crypto ecosystem, it is somewhat counterproductive in attracting newcomers to the DeFi space. The fragmentation and complexity of many DeFi platforms still hinders more users.

For this reason, Reef is considered an ambitious venture as it caters to everyone who wants a piece of DeFi, regardless of experience and expertise. By automating DeFi functions, users can find new opportunities to profit and better manage their digital assets.

Today, there are more and more institutions supporting DeFi projects like Reef. And if it turns out to be a successful platform, it could significantly boost the entry of newcomers into the DeFi space.

Roadmap

Q3 2020: Ethereum DeFi protocols integrations (v2). Reef Aggregation Layer. Analytics Engine Indexers (v2)Q4 2020: TGE & Exchange listing. Reef Basket Engine (v1). Yield Engine (v1). Liquidity Mining ProgramQ1 2021: Reef Basket (Dynamic). Smart Asset Management (v1). Multi-ecosystem support. Pooling mechanism (v1). Reef DAO structure.

For more details, please refer here.

Should I invest in REEF?

Currently, Reef Finance has regional communities in the US, China, Korea and Vietnam. The project plans to expand their reach to other markets globally as the project grows more and more popular.

With many plans to help users access Defi more easily. Hope the project gets more attention from the community. Please refer to the evaluation to form a decision “Should I invest in REEF?” no.

Reef Finance, what’s next?

Launching Reef basket engine V1 and yield engine V1. Educate the community about these products.Educate Reef users on Reef’s ecology by starting an educational series, Reef Highlights.Educate the community through DeFi videos and help users understand context as well as risks associated with DeFi.

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Reef Finance on Binance Launchpool

Step 1: If you do not have a Binance account, please register: https://webgiaidap.com/go/binance

Step 2: Prepare BNB, DOT and BUSD to start staking

Step 3: Access: https://launchpad.binance.com/ Select “Stake now” with the pool you want

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Step 4: For example, you use BNB, then click “Stake” and enter the amount of BNB you want.

Important timelines

07:00 AM to 07:00 AM the next day Reward BNB Pool BUSD Pool DOT Pool

Source: internet

About Troubleinthepeace

Troubleinthepeace specializing in synthesizing information about daily life activities

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