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Reef Finance launches $20M Grant Fund to Expand Reef Chain Development

We are pleased to announce the launch of a $20M Grant Fund for developers to expand the development of Reef Finance’s Reef Chain.

The $20M Grant Fund will be used to help onboard and equip developers with the necessary infrastructure needed to build out the Reef ecosystem. We’re looking to attract top-notch talent who are interested in building the DeFi applications of the future with us.

We truly believe in the development community and see developers as the frontiers in the adoption of solutions within any blockchain. Working with the development community is important to us, and important for working towards making DeFi easy for everyone. Reef sees that as one of the fastest ways to achieve easy DeFi is through supporting developers, and their Reef Finance and Reef Chain projects.

The $20M Grant Fund will target projects intending to build and deploy applications focused on real-world use-cases with high potential for driving mainstream adoption in the Reef ecosystem. There are six suggested categories we’re looking at in relation to these projects:

1. Wallets and Interfaces

This is a focal point of the $20M Grant Fund. With the influx of projects currently onboarding on Reef Chain, we need to develop wallets that are user-friendly for users to interact with DApps. The wallets should provide users a convenient way of exploring a wide range of financial services in the Reef ecosystem through a simple interface.

2. DeFi Lending protocols and Bridges

DeFi loans are one of the fastest-growing facets of blockchain and decentralized finance. We want to further develop this service with the $20M Grant Fund. Lendefi, which is the first lending protocol on Reef Chain, is an example of this.

Lendefi is building a revolutionary lending protocol to help facilitate leveraged trading and secure lending in the trustless environment. The integration of the Lendefi protocol on Reef Chain allows easy introduction of a credit pool linked to Reef Chain.

We intend to welcome a host of other lending protocols with this $20M Grant Fund and see the value of it bring us one step closer towards providing smart financial services to our users.

3. Runtime Modules and Chains

We are looking to channel some percentage of this fund into the development of Runtime Modules and Chains in the Reef ecosystem. The $20M Grant Fund will help provide the infrastructural development and support developers in creating frameworks for custom blockchains. A present example of this is the Substrate framework that aids budding blockchains.

4. NFT Development

The global NFT market has grown significantly over the last couple of years. We want to further drive this growth through our $20M Grant Fund by funding projects that focus on bringing this thriving market into the Reef ecosystem and empower NFT developers on Reef Chain.

DEIP Network and Realm are good examples of projects currently exploring this market with us on Reef Chain. DEIP works to enable the discovery, evaluation, licensing, and exchange of intangible assets in a decentralized manner across ERC-20 and BEP-20 chains. Realm is an NFT metaverse composed of personalized microverses that allow creators to combine music, art, and games to create the perfect realm and mint it as an ERC-1155.

5. DEXs

Kwikswap, a revolutionary cross-chain swap protocol with Layer 2 scaling, is the first DEX to onboard on Reef Chain. This unique DEX allows users to utilize their platform for swapping, market creation, providing liquidity, and staking. Reef Finance aims to provide funding for the development of other DEXs on Reef Chain so users can access a larger liquidity basket across DEXs through Reef’s cutting-edge Liquidity Bridge.

6. Development and Deployment Tools

Reef Finance wants to fund deployment and development companies that can provide reliable, secure, and scalable blockchain infrastructures for projects on Reef Chain. These projects would be responsible for taking care of hosting, syncing, and maintaining nodes, as well as providing a non-custodial validator solution and creating private chains for protocol or smart contract developments in the Reef ecosystem.

Our Long-term Goal

Reef Finance is creating an ecosystem of funding that will see projects built on its chain scale exponentially. The goal of this funding program is to provide support to companies and developers through their development cycle so they can build successful projects. The $20M Grant Fund supports budding projects and offers new partnerships through Reef Finance. We are going to work with the development community to make a positive impact on the blockchain, the DeFi movement, and decentralization.

Apply today: https://airtable.com/shrOJ7q8xZcSS5h3W

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.

Learn about Reef’s recent official news:

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