Accelerating DeFi growth with streamlined liquidity management on the Reef Chain.
As Reef Chain excels in catering to the next-gen DeFi needs, ReefSwap is here to simplify the DeFi experience for users with ReefSwap, the lightning-fast DEX natively built on Reef Chain.
Making DeFi Unstoppable on Reef with ReefSwap
As the fastest growing Layer1 GEN III project of the Middle East, Reef Chain is making Web 3.0 accessible to the next billion users, with various initiatives and launches significantly contributing towards this mission.
Apart from other state-of-the-art features, Reef’s EVM compatibility tremendously lowers the barrier of entry for DApps developers. This has encouraged developers to flock to Reef Chain to create world-class applications powering the latest innovations in Gaming, Metaverse, DeFi, NFT, and so on, creating a flourishing Reef ecosystem.
Adding to the list of the utilities available in the Reef ecosystem, we present to you ReefSwap, the native DEX built on the Reef Chain.
Streamlining Transactions and Liquidity Pools on the Reef Chain
ReefSwap is the simple one-stop solution for swapping between different REEF-20 tokens on the Reef Chain. You would have to create a Reef account and connect it to EVM in your Reef wallet with one click before making any transactions. You would also need some native $REEF tokens in your wallet in order to pay gas fees for transactions.
ReefSwap uses the technical advances implemented in Reef Chain to support lightning-fast transactions at extremely low gas fees. No more waiting for minutes to see your transactions settled, or worse, see them fail due to the change in token price ratio beyond allowed slippage. Transactions will be settled in a matter of seconds on the Reef Chain.
Apart from simple token swapping, ReefSwap also offers various liquidity pools. A liquidity pool (LP) is a group of tokens (usually a pair) locked in a smart contract and used for trading between assets on the DEX. Liquidity providers provide these pooled tokens and, in return, are rewarded with LP tokens in exchange for providing liquidity.
You can check the different liquidity pools on offer and compare their APY. Once you have selected an LP of your choice, you can lock in your REEF-20 tokens to the smart contract to add liquidity to that LPs and earn LP tokens over time. The greater the amount of time over which your tokens remain locked, the more the quantity of LP tokens earned.
The locked tokens can be unlocked from the smart contract any time you want. However, keep in mind that the total amount of tokens you retrieve may be slightly different from the exact amount of tokens you had locked, depending on how the price ratio between the token pair has changed over the locking period.
ReefSwap is going live on the Reef Chain TestNet soon.
This would give us the opportunity to smoothen out kinks and fix bugs if any remain. We will then deploy ReefSwap on the Reef Mainnet accordingly.
Keep watching this space for the latest information on ReefSwap, and all other important updates about the Reef ecosystem.
ReefSwap: The native DEX built on the Reef Chain!
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