We are thrilled to announce that Reef Finance, the leading DeFi project in the Polkadot ecosystem, has partnered with cross-chain Lending platform Kava to provide DeFi users with a host of enhanced features and services.
Kava is the first DeFi project on the Cosmos ecosystem and focuses on providing interoperability to DeFi. Kava’s platform provides cross-chain DeFi opportunities, collateralized stablecoin loans, and real-time price feeds through Chainlink’s oracle network.
Chorus One, which operates validating nodes and staking services for Proof-of-Stake blockchain networks, has received a grant from the Cosmos Interchain Foundation to build a Substrate implementation of IBC which aims to connect the two ecosystems.
As part of this effort, Reef will integrate with emerging technologies like IBC to create a cross-chain DeFi ecosystem. Kava is the first project built with Cosmos SDK that will integrate with Reef’s platform.
The partnership brings a host of features to Reef Finance’s DeFi platform:
Access to Collateralized Loans on Kava’s Platform
Kava’s platform provides collateralized loans in the form of Kava’s stablecoin USDX, in return for cryptocurrencies from different blockchains, including BTC, ETH, XRP, BNB, ATOM, and so on. Through this partnership, users of Reef’s DeFi platform will be able to easily access the collateralized loans available on Kava’s platform.
Access to Yield Opportunities on Kava’s Platform
Reef’s machine learning and AI powered DeFi Smart Yield Farming engine will allow users to gain access to the highly attractive yield opportunities that are available on Kava’s platform. This also provides Reef’s users the option to diversify their investment further, through Reef’s smart portfolio management tools.
Through the collaboration with Kava, Reef demonstrates its commitment to further selection and variety for Reef users.
Access to Kava’s Stablecoin USDX
Kava’s stablecoin USDX will now be available on Reef’s cross-chain DeFi platform as well. USDX comes with the security that the Chainlink oracle network provides, and is poised to become one of the most dominant stablecoins available in the market in the coming days.
Reef is working towards making a wide range of stablecoins from different blockchains available on its platform, to provide more options to users who wish to lend or borrow stablecoins.
Access to HARD Protocol & Other Earning Opportunities
HARD Protocol is the world’s first cross-chain money-market application. Built on Kava, HARD Protocol lets users lend, borrow, and earn with assets like BTC, XRP, BNB, BUSD, KAVA, and USDX.
The partnership between Reef and Kava will enable users to utilize the earning opportunities that HARD Protocol provides. In the future, as more such applications and earning opportunities are built in the Cosmos network, users of Reef Finance would be able to access them seamlessly through Kava’s cross-chain bridges.
“We are excited to choose Kava DeFi Hub to increase earning opportunities for our users on the Reef platform. The end goal is to achieve full interoperability by connecting a Substrate pallet which implements IBC and Kava’s native IBC compatibility. This will enable seamless integration between Polkadot’s parachains and Kava’s DeFi ecosystem” said Reef Finance CEO Denko Mancheski.
Aaron Choi, Kava’s VP of Global BD said, “This partnership between Reef Finance and Kava speaks volumes not just about the increase in yield opportunities, but more importantly of the quality of cross chain technology being showcased on Kava DeFi Hub’s IBC implementation. We are looking forward to working with Reef Finance to realize cross chain interoperability between Cosmos and Polkadot ecosystems.”
Kava is the first decentralized layer one hub for cross-chain DeFi applications and services. Through Kava lending platform and the world’s first cross-chain money market application HARD Protocol built on Kava blockchain, Kava creates a decentralized bank for digital assets connecting users with products like stablecoins, loans, and interest bearing accounts so that they can do more and earn with their digital assets.
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 CEXs and DEXs while offering smart lending, borrowing, staking, mining through AI driven personalized Reef Yield Engine.
For more information about Reef, or to join our team, Please contact us at: firstname.lastname@example.org
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