Reef
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Reef

MONTHLY REVIEW — JANUARY 2021

Wondering what we accomplished in the (seemingly) longest month of the year?

Well, wonder no more… we will quickly update you on how Reef is moving the DeFi ecosystem forward and making it approachable to all.

Avalanche, our first partnership of the year, and it sure felt like it when we released the news about our collaboration! This month we integrated with some of the most interesting projects in our evolving ecosystem.

PARTNERSHIP UPDATES

Avalanche

Avalanche is an interoperable, highly scalable, open-source platform for designing dApps and enterprise blockchains. The Reef x Avalanche partnership allows our users to access DeFi activities on Avalanche directly through Reef’s platform and unites two DeFi ecosystems. Moreover, $AVAX affiliated tokens will be included in Reef’s baskets and our users will be able to channel capital into $AVAX, to maximize savings & earn higher interest.

Read more about the partnership here.

OpenDeFi

OpenDeFi allows users to invest in real-world assets (like Gold), use their assets as collateral for loans, or earn a rental on their assets, all via on-chain synthetics. This partnership enables investments in real-world assets powered by OpenDeFi through Reef Finance. Moreover, it empowers Reef to provide its users the opportunity to invest in this rapidly growing segment of DeFi markets, serving as the on-in-all portal into the DeFi world.

Read more about the partnership here.

bZx Protocol

bZx is an ethereum-based decentralized platform that offers various DeFi applications, such as shorting, leverage, borrowing, and lending, through its Fulcrum and Torque platforms. This partnership allows Reef users to access various leveraged baskets through bZx, and the bZx farming pool will also be added to Reef’s AI and Machine Learning powered analytics engine.

Read more about the partnership here.

Unifi Protocol

Unifi Protocol is a suite of non-custodial, interoperable, decentralized, and multi-chain smart contracts, which are being used to build the next generation DeFi products. This partnership will allow Reef users to access Unifi’s liquidity pools through the Reef platform itself and utilize the yield generating opportunities available there.

Read more about the partnership here.

Manta Network

Manta is a Privacy-First DeFi platform that is building a cross-chain, privacy-preserving, price-stable DEX based on Substrate. Through this partnership, Reef will provide its users access to liquidity from the Manta Network DEX. Manta is leveraging Polkadot’s parachain architecture to bring interoperability to the Manta DEX. This will allow Manta to support any parachain assets on their interface, bringing a tremendous opportunity for growth in the Manta ecosystem.

Read more about the partnership here.

COMMUNITY UPDATES

Reef community has been above and beyond the strongest one in the ecosystem, and we are so grateful for all your support! This month we surpassed 20,000 followers on Twitter and 15,000 on Telegram…way to go guys! It gives us immense pride to watch out community grow.

In case you missed it, please find out Year-in-Review here on everything we accomplished in 2020.

Our CEO, Denko Mancheski, was invited for an interview by GAINS Associates to discuss our progress as the first cross-chain DeFi operating system on Polkadot. You can watch the full interview here.

It was also the month when Polkadot DeFi Alliance started with its inaugural event. Denko Mancheski was a moderator of the first panel. For its first event, the panel discussed the importance of Polkadot Network, and how DeFi protocols and applications can best thrive in its cross-chain infrastructure.

TOKEN UPDATES

Our token shined to start off this exciting year for $REEF! We were listed on numerous top token lists and there has been much trading activity of our asset on the exchanges. $REEF was the 3rd most searched token in Europe and the 5th most searched project overall. Woah! That’s powerful!

Here is a summary of the latest with $REEF:

  1. $REEF is now listed on Huobi Global, one of the world’s leading exchanges to enable trade, conversion, exchange, and storage of $REEF native tokens.
  2. $REEF is now included as an underlying asset on DOTECO (Polkadot Ecosystem) Composite Index perpetual contract by Binance Futures. $REEF was the second-highest in weight of the total underlying assets of DOTECO after $KSM. The other assets along are $ARKO and $DOCK.
  3. Following that, MXC exchange launched 3x leveraged ETFs for the DOTECO composite index perpetual contract and that includes $REEF.
  4. $REEF was added for staking in the Unifarm Yield by OpenDeFi allowing users to earn up to 250% APY. Reef Finance was one of the five projects participating in the Unifarm Yield by OpenDeFi, along with OpenDeFi, Matic Network, Centaur, and Frontier.
  5. $REEF was open for Isolated Margin trading on Binance with REEF/BTC and REEF/USDT trading pairs. Spot Trading markets for REEF/BTC and REEF/USDT were already available on Binance since December 2020.
  6. We launched the $REEF trading contest in association with OpenOcean enabling its trade for 0 trading fees.
  7. We launched the $REEF trading competition for 3Commas Users. To participate, users had to create a new Binance account, sign up and trade any $REEF pair before 1st February 2021.

AMA SERIES:

We had a total of 5 AMA sessions in January, we were invited to 3 and the rest were on our telegram. Our most recent one was hosted by Binance DOTECO AMA along with Dock and Akropolis. For this AMA, Nick Lambert from DOCK and Anastasia Andrianova from Akropolis joined our community to field questions about the DOTECO Composite Index perpetual contract by Binance Futures.

Here is the list of other projects we had AMAs with -

  1. Avalanche
  2. bZx
  3. Huobi Global
  4. Binance DOTECO AMA

That wraps up our first month of the year! So much has happened already in only a few short weeks! We have more ways for you to get involved so please look out on our social channels to get involved and let’s continue to strengthen the Reef ecosystem, thank you for your continued participation and support!

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Reef is a smart contract blockchain built using Substrate framework. Reef chain provides high scalability, enabling low-cost transactions, and supports Solidity and Ethereum VM, allowing developers to seamlessly migrate their dApps from Ethereum without code change.

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Reef

Reef

Reef chain is an EVM compatible blockchain for DeFi. It is fast, scalable, has low transaction costs and does no wasteful mining.

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