Phala Network Expands Strategic Partnership with Reef Finance
We are thrilled to announce: Phala has expanded strategic partnership with Reef Finance, the first cross-chain DeFi operating system built on Polkadot.
Liquidity problem where the centralized exchanges are isolated and prone to hack while the DEXes have no liquidity and difficult to use. The DeFi ecosystem also faces a fragmentation problem, where users have to manage multiple addresses on multiple platforms, to access their assets and data, they have to navigate to these platforms individually. — Reef Finance
Both as important members in Polkadot ecosystem, Reef Finance and Phala will jointly build a Web3.0 platform managing to provide smart liquidity and DEX trading based on Reef’s AI-driven loan protocol which is now more privacy-preserving on AI-training raw data processing combined with Phala technology. Such the-first-of-its-kind cooperation will present a valuable use case that is Polkadot-eco-abled-only and cross-chain-empowered-only in the near future.
Also, as a crucial infrastructure of blockchain confidentiality, Phala will keep striving on the protection of user privacy and raw data based on products such as Phala Dark Wallet and decentralized dark pools, creating a safe and unique trading environment for Kusama and Polkadot ecosystem.
About Reef Finance
Reef is the first cross-chain DeFi operating system built on Polkadot. With a seamless user interface, Reef offers its users a smart liquidity aggregator and yield engine that enables trading with access to liquidity from both CEXes and DEXes while offering smart lending, borrowing, staking, mining through AI-driven personalized Reef Yield Engine.
About Phala
A Substrate-based confidential smart contract blockchain on which you can develop confidential-preserving and privacy-first blockchain apps. Member of Substrate Builders Program starting lineup. Recipient of Web3 Foundation Grant.
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