Lendefi to build on Reef Chain

Reef Finance is excited to welcome the Lendefi protocol to its growing ecosystem as one of the first lending projects to build on Reef Chain. The Lendefi protocol facilitates leveraged trading and secured lending within a trustless environment. This delivers confidence to both traders and lenders within volatile cryptocurrency markets.

Lendefi allows traders to utilize undercollateralized loans for leveraged trading while delivering lenders security and interest payments on an hourly basis. Security for lenders is delivered through the protocol, which initiates a liquidation event before the assets of the lending pool are eroded.

The Lendefi lending protocol on Reef Chain

The Lendefi protocol facilitates leveraged trading for digital assets combined with secured lending. Borrowers will be able to decide what factor of leverage they wish to access and can choose from a number of approved tokens to invest in. The protocol is decentralized and delivers advantages to both lenders and borrowers.

Reef Chain is based on the Substrate Framework, which ensures high throughput, security, and low transaction fees, as well as a high level of compliance protection. The Substrate Framework is highly scalable, future-proof, and can support numerous DApps simultaneously. It is also natively compatible with Polkadot, to easily secure your blockchain and communicate with the Polkadot network.

Reef Finance offers strong support for its ecosystem projects. This is achieved through online presence amplification, media relationships, partner networks, and visibility within the market. The Reef Chain facilitates the opportunity to become part of one of the fastest-growing ecosystems in the DeFi arena.

Pools and Bridges through Lendefi Integration

Through close cooperation and further development of Lendefi’s technology for the Reef ecosystem, opportunities will be created for lenders of digital asset lenders to generate returns from interest rates. Borrowers will be able to access leveraged trading positions through Lendefi’s lending pool.

The integration of the Lendefi protocol onto the Reef Chain will introduce a credit pool directly linked to the Reef Chain. In addition, a bridge will be created to facilitate the conversion of ERC-20 and BEP-20 tokens to REEF-20. Lendefi will transition the decision-making associated with its protocol into an interoperable DAO.

Lendefi is looking for development talent to join their team and commence work on their Reef chain integration. If you are a full stack developer with experience in blockchain please contact Lendefi here.

“Lendefi’s innovative protocol is the first of its kind to deliver undercollateralized loans for digital assets. The potential for growth in this market is significant and we are happy to have Lendefi onboard Reef Chain” — Denko Mancheski, Reef CEO

“Reef will provide the true decentralization that Lendefi’s protocol needs to execute our DAO vision. An alignment of visions provides the foundation for a symbiotic relationship between our technologies.” — Scott Schulz, Lendefi CEO

Get started building on Reef Chain today:

https://docs.reef.finance/docs/developers/quick-start/

About Lendefi Protocol

The Lendefi Protocol facilitates leveraged trading through undercollateralized secured lending, delivering confidence to lenders within volatile cryptocurrency markets. It allows users to lend crypto and benefit from interest rates while minimizing exposure to fluctuations in the market. Lendefi’s Protocol cuts the middleman out of the lending equation and eliminates the red tape involved with lending and borrowing. This removes counterparty risk between borrower and lender, creating a trustless transaction.

About Reef Finance

Reef Finance is building Reef Chain, a DeFi blockchain built using Substrate Framework. Reef Chain provides high scalability, enabling almost instant low-cost transactions. Reef Chain supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Reef Finance’s vision is to make it easy to invest in DeFi and to build DeFi applications on top of Reef Chain.

Learn about Reef’s recent official news: Website | Twitter | Telegram