Reef Finance is a decentralized blockchain-based platform that supports DeFi services and products. It is believed to be the first cross-chain trading platform that works with both centralized and decentralized exchanges while offering traders the greatest yield rates and support for DeFi decentralized apps. Reef Finance also offers the Reef Yield Engine, which enables users to engage in smart borrowing and lending, mining, staking, and other artificial intelligence-powered activities. Reef Finance had also established Reef Chain, its own smart contracts blockchain. It is compatible with the Ethereum Virtual Machine and seeks to make it possible for developers to migrate to Reef Chain and host their Ethereum-based apps on the chain. Reef Chain provides a plethora of functionality for Dapp developers, as well as scalability and inexpensive prices.

Reef Finance's Polkadot-based protocol allows users to access many platforms, including Binance Smart Chain, Ethereum, Plasma, Moonbeam, and Avalanche. Users may access several platforms without having to create additional accounts and passwords. Reef is a one-of-a-kind initiative in that it enables users to operate across several chains from a single blockchain-based ecosystem.

History

Denko Mancheski, who has a good expertise in crypto, started Reef Finance in 2019. Mancheski, who was born in Macedonia, formerly served as Chief Technology Officer at Adel, a worldwide cryptocurrency incubator for blockchain innovation. Reef's primary purpose is to simplify trading and eliminate the complications of order books. Mancheski founded the project with the goal of decreasing the investment barrier and allowing novices and unskilled traders to participate in various cryptos with automatic liquidity and yield returns.

Reef continues to grow and adapt while collaborating and merging with other important DeFi projects.

How does it work

Reef Finance is a cross-chain blockchain platform that is meant to draw liquidity from several sources, allowing for cross-chain trading across various DeFi platforms such as Aave, Uniswap, Synthetix, and Compound. This is how Reef Finance enables customers to discover the greatest potential return rates while also stabilizing network liquidity. The Reef Basket Engine, which includes the Reef Intelligence Engine and the Reef Smart Yield Engine, enables cross-chain connectivity with other DeFi systems. The Reef Smart Dividend Engine uses artificial intelligence and machine learning to construct baskets of digital assets that consumers may invest in while receiving a yield. Users may trade and stake their tokens while maintaining complete control. The Reef Smart Yield Engine has elements that promote democracy, decentralization, and community-led governance. Staking, multiple assets, liquidity farming, integrations, and insurance are all supported.

The Reef Intelligence Engine is a data source for the on-chain proxy, which gives customers with real-time data like as asset pricing, live modifications, and liquidity pool activity. The two engines function in tandem to support the Reef Basket Engine while also providing yield automation, rebalancing, and crypto asset allocation.

Total supply and circulation

There is no report yet, what is the maximum set supply. However, total supply is at the moment 19,914,605,521 REEF coins, while circulating supply is 19,509,853,969 tokens.