Lendefi To Build On Reef Chain

Reef Finance is excited to welcome the Lendefi protocol to its growing ecosystem as one of their first lending projects to build on Reef Chain.

Through close cooperation and further development of Lendefi’s technology for the Reef ecosystem, opportunities will be created for lenders of digital asset lenders to generate returns from interest rates. Borrowers will be able to access leveraged trading positions through Lendefi’s lending pool.

The integration of the Lendefi protocol onto the Reef Chain will introduce a credit pool directly linked to the Reef Chain. In addition, a bridge will be created to facilitate the conversion of ERC-20 and BEP-20 tokens to REEF-20.

About Lendefi Protocol:

The Lendefi Protocol facilitates leveraged trading through undercollateralized secured lending, delivering confidence to lenders within volatile cryptocurrency markets. It allows users to lend crypto and benefit from interest rates while minimizing exposure to fluctuations in the market. Lendefi’s Protocol cuts the middleman out of the lending equation and eliminates the red tape involved with lending and borrowing. This removes counterparty risk between borrower and lender, creating a trustless transaction.

About Reef Finance:

Reef Finance is building Reef Chain, a DeFi blockchain built using Substrate Framework. Reef Chain provides high scalability, enabling almost instant low-cost transactions. Reef Chain supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Reef Finance’s vision is to make it easy to invest in DeFi and to build DeFi applications on top of Reef Chain.

INFO:

https://medium.com/reef-finance/lendefi-to-build-on-reef-chain-98d6b52db6e7