Reef now Fully Integrated into Binance

Reef was a title sponsor at the Binance Blockchain Week 2022 in Dubai from March 28–30. During this event, the team formed many new relationships with hundreds of marketers, developers, and founders, while strengthening the existing relationships we already had. It was a great event where we made sure Reef really stood out among the crowd.

Reef is elated to announce that millions of Binance users can now move their REEF tokens, via Reef Chain, in and out of Binance. That is right! Binance has successfully integrated the Reef network, which now allows their users to deposit or withdraw REEF tokens only at the network cost of 10 REEF per transaction.

REEF can now be deposited and withdrawn over the Reef network, along with BNB Smart Chain and Ethereum
Binance is the number one centralized cryptocurrency exchange platform facilitating over $16 billion in daily trade volume as of today, and a capacity to fill more than 1.4 million orders per second. Binance officially announced that users can withdraw REEF once their hot wallets have sufficient REEF deposited, which is available as of this time.

REEF’s token contract address on Reef chain is:

The withdrawal fee on Reef is only 10 REEF, making it less than half the cost to withdraw REEF to BNB Smart Chain, and 300x less expensive than withdrawing to Ethereum!

Screenshot of withdrawal options and fees for REEF
We are looking forward to working with more centralized exchanges to onboard many new community members and builders to the Reef ecosystem. This is a major step forward for Reef and its community of Reefians and Divers, and we look forward to continue building on the momentum that began in Q1 2022.

About Reef
Reef Chain is a layer 1, Substrate based blockchain that is the most advanced Ethereum VM-compatible blockchain available. It’s self-upgradable and has on-chain governance. Its infrastructure also allows for EVM extensions which allows for native token bridge, scheduled calls (ie. recurring payments), and smart contract in-place code upgrades. In the near future, it will support an additional VM which will allow developers to write code in multiple programming languages. The network runs on a Nominated Proof-of-Stake (NPoS) consensus mechanism, which offers scalability and low fees.

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Mark Last Born

Mark Last Born

I am a blockchain ethusiast,Gamer,Writter,Ambassador.