Reef Finance thrilled to announce HAPI is joining Reef Chain ecosystem
Reef Finance is delighted to announce HAPI, the on-chain security protocol providing trustless oracles, is joining the Reef Chain ecosystem!
One of Reef Finance’s primary goals for Reef Chain is to make cross-chain liquidity aggregation easy and fluid, while making DeFi easy and mitigating any potential security vulnerabilities. HAPI aims to fend off attacks against blockchain protocols by allowing developers to integrate HAPI’s security technology into smart contracts. With specifically designed oracles, HAPI enables a real-time stream of data on stolen, malicious, and fraudulent activities, helping prevent or even halting a catastrophic loss of funds from happening. HAPI operates both preemptively to act on a potential exploit, and as an immediate tool to stop further exploitation of an attack that has already started.
With values aligned between both the Reef and HAPI teams, both organizations look forward to building a healthy, long-term relationship that benefits both sides equally, and especially the users of protocols protected by HAPI.
Some of the capabilities HAPI enables is for exchanges. Centralized exchanges receive warnings of stolen funds deposited into their custody, so the exchange can block those funds from being withdrawn or traded until the situation is resolved. Decentralized exchanges (DEXs) can cut back on suspicious addresses by integrating the HAPI smart contract, and Oracle DEXs will be able to identify suspicious wallet addresses and reject any transaction request to prevent money laundering.
With a decentralized security audit database, anyone tapping into HAPI can access information on whether a smart contract has undergone a security audit and, if not audited thus far, the exchange can notify the trader on possible risks or even impose limits to help prevent losses.
With native integration available between dApps deploying on Reef Chain and the HAPI protocol, Reef Chain developers will be able to add more security for their users using trustless technology overseen by the HAPI DAO, and get involved themselves with the HAPI community!
About HAPI
HAPI is a set of cross-chain smart contracts that are embedded into DeFI products that allow them to reach a new security level. Also, HAPI’s Oraclizing and DAO system delivers SaaS in the DeFi environment that prevents hack attempts.
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.
Join us:
- 🌎 Website: https://reef.finance/
- 🐦 Twitter: https://twitter.com/ReefDeFi
- 📢 Telegram: https://t.me/reefdefi
- 📚 Medium: https://medium.com/reef-finance
