Reef Finance Released its Q2 2021 Update

As they continue their work at Reef Finance towards Making DeFi Easy, the second quarter of 2021 laid down an incredibly strong foundation for doing exactly that, on top of all the work already achieved over the past year. The Reef Finance team sincerely hopes that you are as proud as they are of all the collaborations they were able to secure because you are an integral part of the Reef ecosystem!

On Twitter, they grew to over 183K followers! This represents an over 100% increase compared to the end of Q1! Amazing!

Let then take you through the entire second quarter of 2021 at Reef Finance!

Rebrand

Reef Finance launched a major overhaul to its brand, and they launched a brand new version of https://reef.finance that is more functional, easier to use, and provides more information than ever before about Reef Finance, Reef Chain, and the Reef ecosystem.

Partnerships and Launches

Aavegotchi on Reef Chain

Aavegotchi is a DeFi-centric non-fungible token powered by Aave Protocol and can be valued under collaterals of aTokens, thus making Aavegotchi a highly rare and premium NFT. Reef users will be able to interact with Aavegotchis by simply staking the REEF tokens in Reef Yield Engine Baskets.

Learn more about this collaboration here.

DAFI protocol to integrate synthetic dREEF tokens

DAFI creates a relationship between blockchain project rewards and token adoption by releasing dTokens tied to projects’ demand. Reef Finance enables users to invest in the most promising DeFi opportunities in an easy and approachable manner. The collaboration with Dafi holds a world of promise as Dafi’s synthetic protocol will be used to create dREEF tokens which will be pegged to the network demand and stimulate adoption.

Learn more about the integration here.

Reef Finance welcomed KwikSwap to the Reef ecosystem

Much like Uniswap, KwikSwap enables developers to build on its APIs, dApp UI, and source code which can extend the reach of the protocol. By building on Reef Chain, KwikSwap will be able to leverage Reef Chain’s high scalability and higher throughputs while minimizing the gas fees encumbered by the users.

Read more about this upcoming launch here.

Reef Chain Developer Support Program launched!

In their effort to support the burgeoning Polkadot ecosystem and to support DApp developers looking to access their multichain future, they initiated the Reef Chain Developer Support Program, to provide unparalleled guidance and mentorship to those teams and entrepreneurs currently building on Polkadot Network and EVM-compatible blockchains.

Learn more about the Developer Support Program here.

Introduction of ReefStarter, an IDO platform for Reef Chain

ReefStarter will support cross-chain token pools and auctions for other Substrate projects, including the entire Polkadot ecosystem. Projects can use ReefStarter to raise capital in a completely decentralized and interoperable environment seamlessly.

Read more about ReefStarter here.

Reef Finance is working with Benchmark to integrate xMARK into the Reef Ecosystem

Benchmark Protocol is an elastic stablecoin-alternative bridging capital markets to DeFi. xMark (ERC20) is a non rebasing cross-chain friendly representation of MARK — the elastic supply stablecoin alternative pegged to the SDR. By introducing xMARK into the Reef ecosystem, the community will have access to a non-collateralized, inflation-shielded stablecoin alternative that fits well into lending and SOV use cases.

Learn more about this integration here.

DEIP Network will bring a unique class of DeFi investment opportunities based on intellectual properties to Reef

DEIP Network is a Web 3.0 Layer-2 protocol developed on Substrate, which enables the discovery, evaluation, licensing and exchange of intangible assets in a decentralized manner. Using DEIP’s Intellectual Capital Protocol, Reef Chain will be able to turn any intangible asset, such as patents, copyrights, inventions, and intellectual properties, into fractional NFTs. These fractional NFTs can then be traded, providing the holders fractional ownership over the assets.

Read more about Reef Finance and DEIP working together here.

Lendefi is coming to Reef Chain

Lendefi allows traders to use undercollateralized loans for leveraged trading, while delivering lenders security and interest payments on an hourly basis. Security for lenders is delivered through the protocol, which initiates a liquidation event before the assets of the lending pool are eroded.

Read more about Lendefi and their upcoming launch on Reef here.

Reef Finance is working with Polkalokr to provide the safest DeFi investments

Polkalokr is an all-in-one, multi-chain token locking platform that offers a highly customizable escrow to restore trust and simplicity to complex token economies. Polkalokr’s smart contracts will add a layer of trust and transparency by locking liquidity into DEXs and automating the distribution of vested tokens to early participants.

Learn more about how Polkalokr benefits Reef’s ecosystem and users here.

Realm to build and launch on Reef Chain

With Realm, users can discover an infinite number of metaverses, collect pets with cross-chain genetics, and create their own (or with friends!) realms. By building on the Reef Chain, Realm will leverage Reef Chain’s high scalability and throughputs while drastically minimizing the gas fees imposed on platform users on other EVM blockchains.

Learn more about this integration with Realm here.

Reef’s Canary Mainnet launched May 28!

Marking a major milestone for Reef Finance’s Reef Chain, the Canary Mainnet launched on May 28! This entirely Ethereum Virtual Machine-compatible chain allows developers to port their existing applications from Ethereum without any change in the underlying base code, giving developers minimal work while delivering optimal performance for their users.

Read more about the Canary Mainnet launch here.

Reef Finance launched a $20M Grant Fund

The $20M Grant Fund is being used to help onboard and equip developers with the necessary infrastructure needed to build out the Reef ecosystem. We’re looking to attract top-notch talent who are interested in building the DeFi applications of the future with them.

Learn more about the Grant Fund here.

Oddz Finance announces they are coming to Reef

Oddz Finance is a multi-chain option trading platform built on Binance Smart Chain. It supports multiple cryptocurrencies over major blockchain networks such as Ethereum, Polkadot, Polygon, Elrond, and BSC. Through their in-built Oracle solution and Machine Learning (ML) powered algorithms, Oddz offers users a seamless on-chain option trading solution.

Read the announcement to learn more about Oddz Finance.

Pinknode will provide secure and reliable API endpoints

Reef Finance was pleased to announce a strategic partnership with Pinknode to provide secure and reliable API endpoints for Reef users. Pinknode is a Polkadot-only protocol that aims to empower developers with its node-as-a-service solutions for accelerating product life cycles by removing an entire layer of inefficiencies and complexities. Pinknode’s mission in the DeFi space is to build leading infrastructure and exceptional tools for developers. These tools will empower teams to build upon and boost the development of the most promising Web 3.0 protocol, Polkadot.

Learn more about this very important integration here.

Shield Protocol to allow users to save 2FA credentials on Reef Chain

Shield Protocol has developed the first 2FA app on a blockchain, as a second layer security platform based on the Binance Smart Chain. This allows users to back up their 2FA (Two Factor Authentication) accounts on different blockchain networks, instead of centralized servers like those provided by large technology providers.

Shield Protocol’s iOS and Android mobile apps have been downloaded by 30,000+ users, and are used by 15,000+ monthly active users. The integration will bring the first 2FA application to Reef Chain. Shield’s app supports a 4-tier strong encryption layer to backup secrets on multiple blockchains. Users who have their 2FA activated on crypto exchanges like Binance, Huobi, Gate.io, or any other website which supports 2FA security, will now be able to safely back up their codes on Reef Chain.

Read more about Shield Protocol and Reef here.

Oshen announced they would build on Reef

Oshen is building a unique NFT marketplace showcasing new content from elite athletes and natural world artists. These NFT creators will be able to offer prime content and market their art. The artists and athletes are going to use NFTs to open an extra dimension to the value of their work, which provides them the opportunity for a passive income source. The Oshen team aims to integrate Reef Chain as Reef offers a higher transaction completion rate, giving Oshen’s platform better scalability along with lower transaction fees, enhanced accessibility, and a DEIP network that bridges ER20 and BEP20 tokens to Reef Chain.

Learn more about this collaboration here.

NFT Stars Marketplace coming to Reef Chain

Reef Finance welcomed NFT STARS to its expanding ecosystem. This multi-chain NFT marketplace has gained a growing level of trust from the crypto community and artists and Reef is excited to have it build on Reef Chain.

Read more about NFT STARS building on Reef here.

NFTify is coming to Reef Chain

NFTify is a peerless platform, allowing any NFT Store on NFTify to also create an NFT store on Reef Chain. This provides access to DeFi services across centralized and decentralized exchanges! Billing itself as “the Shopify of NFTs,” NFTify’s e-commerce platform provides NFT issuers and marketers the ability to build NFT marketplaces and brands.

Learn more about NFTify and the benefits of building on Reef Chain here.

Relite Finance will power cross-chain borrowing and lending on Reef

Relite will provide Reef Chain users additional access to borrowing, lending, and staking across a variety of protocols. With simple lending and borrowing, sustainable fees for borrowers, lower collateral requirements than other borrowing platforms, and the implementation of a reserve fund to help facilitate this, Relite is building a platform that rewards its users with long-term stability in mind.

Read more about this integration and benefits here.

Reef Finance integrating with 5X Margin Tool

5x Margin Tool, a new product for leveraged trading and yield farming from Platinum Software Development Company, is being brought to Reef Chain! At launch, 5x Margin Tool will support trading on multiple decentralized exchanges, across various blockchains including Reef Chain, enabling additional interoperability and the free flow of liquidity to and from Reef Chain.

Learn more about how 5x Margin Tool works here.

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, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change to the code base. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.

📰 INFO

https://medium.com/reef-finance/reef-finance-quarterly-review-q2-2021-1091fca86cb4