The Reef Chain is expanding rapidly — Reef Ecosystem Map, August 2021 Updates
Last month, we introduced our Ecosystem Map, broken down into categories of DeFi, Security, Investors, Exchanges, NFTs/Gaming, and Wallets. Little did we know, over the last few weeks we’ve had an overwhelming interest in building on the Reef Chain and welcomed even more collaborations to the ever-growing Reef Ecosystem, as well as announcing the launch of the Reef Mainnet.
With over 200 smart contracts deployed on its testnet, and thanks to a successful audit by Halborn, a leading blockchain security firm completing the final and necessary steps before launching the network, Reef Chain was delighted to announce its full mainnet in July. This came with a strategic partnership with Klever Wallet — and its 3 million active users, becoming also the first external Reef Chain validator. Our users can now bond REEF and nominate validators on Reef Finance’s Reef Chain.
Animated NFTs, cross-chain and multi-chain digital collectibles and gaming joined Reef Finance with Polychain Monsters. The NFTs/Gaming category also welcomed Next Earth’s transparent, virtual land platform governed by a decentralized autonomous organization (DAO), allowing purchasing and trading of virtual land non-fungible tokens (NFTs) without an intermediary.
Following the mainstream appeal of DAOs, we also welcomed CurioInvest, a product of the CurioDAO Association — The DeFi Hub of Real-World Assets NFTs, a multi-chain real world asset NFT platform where users can easily mint RWA NFT, get liquidity via stablecoin allowances or earn yield by creating farms.
Reef’s upcoming launchpad will benefit from FIDATO, a password-less whitelisting product brought to you by our collaboration with Hypersign, a decentralized identity (DID) solution. This will allow users taking advantage of Reef powered dApps to easily reuse existing Verifiable Credentials instead of having to create more usernames, passwords, or create new wallets.
On the security side, Reef Finance was delighted to announce HAPI, the on-chain security protocol providing trust-less oracles, enabling a real-time stream of data on stolen, malicious, and fraudulent activities, and helping prevent or even halting a catastrophic loss of funds from happening.
The first stablecoin on the Reef Finance’s blockchain made its debut, with Samecoin’s addition to the Reef Ecosystem, a decentralized stablecoin protocol that allows the average person or business owner to perform seamless, digital payments. The protocol runs on its own utility token, SAME, and has a family of stablecoins including SameUSD (SUSD) and SameEuro.
Great news accompanied the REEF token as well, with our Bitfinex Exchange listing, one of the most popular exchanges, processing hundreds of millions of dollars of trading volume per day, allowing users to buy cryptocurrencies with credit cards, as well as offering many fiat-pegged trading pairs.
This is the ecosystem being built up around Reef Chain.
“It’s time that Reef opened the floodgates for DeFi. Our focus is enabling a new age of cross-chain DeFi, where users from other blockchains can use Reef Chain for all their DeFi needs without hassle.” - Denko Mancheski, Founder of Reef Finance
We appreciate your confidence in us look forward to seeing your company grow in the Reef ecosystem — with such an amazing line-up of talent building on Reef Chain now, and more coming every day, the future of Reef Finance’s Reef Chain has been solidified.
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More 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.