Reef Finance has Partnered with bZx Protocol to Offer a Diverse Range of DeFi Services to Reef Users.
Reef Finance has partnered with bZx Protocol to offer a wider variety of services and income opportunities to the users of its DeFi platform
The bZx protocol is an Ethereum-based decentralized platform for DeFi shorting, leverage, borrowing, and lending applications. The bZx platform offers two types of financial primitives, iTokens and pTokens, through its Fulcrum and Torque DeFi platform. The trading front-end Fulcrum allows users to trade and lend crypto assets through tokenized loans and tokenized positions, while Torque serves as bZx’s lending platform with indefinite-term loans and fixed interest rates.
With this partnership, Reef users will be able to achieve various leveraged baskets through bZx. This strategy would be more suitable for the aggressive traders on Reef’s platform. For the less aggressive traders, multi-composed exposure would be available through bZx’s Torque platform. Reef users would be able to lend a certain portion of their exposure in order to earn interest on the Reef platform.
Furthermore, the bZX farming pool will be added to Reef’s AI and Machine Learning powered analytics engine. Based on certain metrics, the farming pools will show up in the Reef baskets. With multiple pools available, Reef will add another basket type on its platform which will be designated for the bZx pools only. This will help users make a more informed choice as to which sort of basket they would like to invest in.
“We are excited to offer Reef users opportunities to deploy higher leverage through bZx” said Denko Mancheski, CEO of Reef Finance.
“We’re excited to team up with Reef on multiple fronts and we’re looking forward to seeing users benefit from this partnership.” ~ Kyle Kistner, Co-founder at bZx.
bZx is a financial primitive for shorting, leverage, borrowing, and lending that empowers decentralized, efficient, and rent-free blockchain applications. The bZx Protocol is currently the only lending protocol to make use of decentralized price feeds for calculating interest rates, and the protocol’s unique architecture ensures that the gas fee associated with using bZx does not increase along with the number of assets supported by the platform.
Reef is the first cross-chain DeFi operating system. 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.
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