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Reef Finance Unveils Its Reef Ecosystem Map for July 2021

UTC by Bhushan Akolkar · 2 min read
Reef Finance Unveils Its Reef Ecosystem Map for July 2021
Photo: Reef

The Reef Finance ecosystem supports exchanges, dApps, DeFi, NFTs, and a lot more.

On Tuesday, July 13, Reef Finance, the first to build a cross-chain DeFi operating system, unveiled its ecosystem map for July 2021. The Reef Ecosystem comprises multiple DeFi platforms along with exchanges, investors, NFTs, and wallets.

Besides, it will also feature dApps and projects from all around the world. The Reef ecosystem will also support core infrastructure platforms like Covalent and Pinknode. It supports dApps like Ispolink along with DeFi protocols like 5x Margin Tool and Relite. Interestingly, the Reef ecosystem also NFT dApps like Realm, CoinFantasy, and ChainGuardians. The official announcement from Reef Finance notes:

“This is the ecosystem being built up around Reef Chain, which will be launching its full, public mainnet in the near future. With such an amazing lineup of talent building on Reef Chain now, and more coming every day, the future of Reef Finance’s Reef Chain has been solidified”.

About Reef Finance Ecosystem

In the fastly growing world of parachains, Reef Finance has emerged as a major frontrunner by building the first cross-chain DeFi operating system. The platform allows users to trade offering access to liquidity from both CEXs and DEXs.

The AI-driven personalized Reef Yield Engine facilitates the DApps to offer smart lending, borrowing, staking, and mining. Reef Chian has emerged as the home for hundreds of developers building dozens of DApps. It also shares the mission of enabling “low-cost opportunities to earn interest, provide liquidity, play games, and much more”.

By leveraging the Substrate Framework, Reef Finance will now be building the Reef Chain. The announcement notes:

“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 in the codebase. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain”.

Reef Finance also has its own native cryptocurrency REEF running on the Reef Chain. The REEF trading started at end of December 2020. At press time, REEF is trading at a price of $0.014 with a market cap of $178 million.

It will be interesting to monitor any further developments coming from Reef Finance ahead.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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