Reef Finance and Phala Network to Bring Privacy to Polkadot DeFi Ecosystem

Reef is excited to announce that we are working together with Phala Network in developing Reef — a suite of cutting edge DeFi products for the Polkadot ecosystem. Recently, advances in privacy technology have allowed for dark wallets and hidden orderbooks to become a possibility. Phala Network is a privacy preserving protocol for data-protection and blockchain smart contract.

Why Phala

Phala not only won a W3F grant but it also joined the Substrate Builders’ Program to make Phala a contributor to Kusama or Polkadot Parachain. For these reasons, the Reef team is excited to collaborate with the Phala team.

“I am excited to work with a team of the caliber of Phala to bring private transactions to DeFi end users everywhere” said CEO of Reef Finance Denko Mancheski.

“Using XCMP on Polkadot, Reef Finance could provide smart liquidity aggregator to Polkadot ecosystem through yield engine and Dex. And because Reef using AI engine to do so, Phala could provide a safety environment for machine learning data on-chain with user privacy-protecting. Phala is also providing DarkWallet and DarkPool to protect the basic privacy for Kusama and Polkadot Defi activities. We think the cooperation between Phala and Reef could show the unique use-case of cross-chain Defi which never be founded on other ecosystem” said Marvin Tong, Co-Founder & CEO of Phala.

Reef will work closely with the Phala team to deploy quality products in the Polkadot ecosystem. We believe Phala is one of the strongest technical teams in the ecosystem as part of the Substrate Builders Program and the Substrate Delivery Partner Program.

With Phala, Reef Finance can make cross chain DeFi a reality faster/today.

About Reef

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.

For more information about Reef, or to join our team, Please contact us at: info@reef.finance

Learn about Reef’s recent official news:

Twitter: @ReefDeFi

Telegram: https://t.me/reefdefi