Reef Finance forms a strategic alliance with Aavegotchi, a leading and one of the most creative projects specializing in NFT.
Aavegotchi is a DeFi-centric non-fungible token powered by Aave Protocol and can be valued under collaterals of aTokens, thus making Aavegotchi a highly rare and premium NFT. Withdrawing the collateral destroys the Aavegotchi as the aTokens represent its “spirit force”.
Aavegotchi is a more innovative NFT project that combines DeFi with Gaming which was inspired by Tamagotchi handheld arcade gadgets. This unique mechanism makes Aavegotchi the perfect project for our first NFT collaboration on Reef Chain.
Through this collaboration, Reef users will be able to interact with Aavegotchis by simply staking the REEF tokens in Reef Yield Engine Baskets. Reef Finance will also list fractional Aavegotchi NFTs in the Reef DeFi baskets. Fractional NFTs allow creating liquid markets for unique collectors’ items, synergizing with Reef’s strengths.
Commenting on the new partnership, Denko Mancheski, the CEO of Reef Finance said, “We’re pleased to offer NFTs on Reef Chain and Reef DeFi baskets. When you learn of how Aavegotchis work you can’t help but be amazed at how cool the concept is.”
The expansion into NFTs marks a logical next step for the Reef project, which is designed to aggregate liquidity across all venues, both centralized and decentralized. The recently launched Reef Chain is perfectly suited for hosting NFT platforms and tokens, thanks to its universal liquidity bridges and full support for the Ethereum Virtual Machine.
About Reef Finance
Reef Finance is building Reef Chain, a DeFi blockchain built on Substrate and customized for the needs of the DeFi DApps of tomorrow. ReefChain provides high scalability, enabling almost instant and low-cost transactions. ReefChain supports Solidity and makes full use of EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Reef’s main goal is to make DeFi easy for everyone by aggregating different protocols allowing smart exposure through their basket engine.
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