Reef Finance Integrating with 5X Margin to Bring Leveraged Trading to Reef Chain
Update: 5x Margin has since re-branded to Marnotaur.
Reef Finance is happy to share that 5x Margin Tool, a new product for leveraged trading and yield farming from Platinum Software Development Company, is being brought to Reef Chain!
At launch, 5x Margin Tool will support trading on multiple decentralized exchanges, across various blockchains including Reef Chain, enabling additional interoperability and the free flow of liquidity to and from Reef Chain.
Having 5x Margin Tool deployed on Reef Chain will make it possible for 5x Margin and Reef users to:
- Access liquidity across Reef Chain, Ethereum, Polkadot, Avalanche, Cosmos, and Binance Smart Chain
- Trade and yield farm with up to 5x leverage
- Access a Gas optimization tool to cut operational costs
- Earn platform rewards, along with a share of liquidation revenue for stakers and farmers
- Deposit funds into liquidity pools with different risk levels and tokens
“We’re pleased to announce a strategic integration with Reef Finance. The project has achieved impressive results and contributed a lot to enabling blockchain interoperability. Reef is a technologically advanced project and we are excited to see our engineers exchanging their experience and together disrupting the DeFi market.”
- Anton Dziatkovskii, CEO of Platinum Fund
The integration with Reef Chain does not require any changes to the original code written in Solidity as Reef Chain provides full Ethereum virtual machine support. The Platinum Software Development team consists of blockchain experts and Solidity engineers with many years of experience who share common end goals with Reef Finance.
“As Reef Finance’s Reef Chain continues on this journey to full mainnet launch, it is imperative we can provide Reef Chain users with the tools they need to make the most of Reef’s low cost and fast transaction times. We are very happy to see 5x Margin Tool will be deployed to Reef Chain, adding more ways to access cross-chain liquidity, along with leveraged trading and farming. This is terrific news.”
- Denko Mancheski, CEO of Reef Finance
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, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.
About 5x Margin Tool
5x Margin Tool is the main project that Platinum Development Software Company is currently working on. 5x Margin Tool enables users to take out under-collateralized loans and perform trades and farming with up to 10x leverage. The tool has a built-in Gas optimizer, re-distributing a share of the liquidation revenue to the users, and supports the most active members of the community.
Follow 5x Margin Tool’s social media channels to stay updated on its progress: Website, Telegram, Twitter.
Join our social channels:
- Website: https://reef.finance/
- Twitter: https://twitter.com/ReefDeFi
- Telegram: https://t.me/reefdefi
- Medium: https://medium.com/reef-finance
