Expanding Reef Staking Opportunities
Reef Finance is a cross-chain DeFi operating system that was created with the goal of making DeFi accessible to everyone.
Reef’s global liquidity aggregator examines the whole DeFi environment to give customers the finest investment options in one place. Reef’s AI-powered smart analytics engine also offers customers personalized investing recommendations, allowing them to invest in DeFi tokens based on their profit goals and risk tolerance.
To lower the entry barrier for DeFi investors, Reef has partnered with some of the leading DeFi players of the industry, including OpenDeFi, Kava and Avalanche, so that users and continue with varied Reef Staking opportunities on all of these partner platforms.
Reef Finance was the first startup from the Polkadot ecosystem to be launched on Binance’s Launchpad platform last year, and it had an exceptionally successful debut. Reef is also available on Huobi Global and Poloniex, two global cryptocurrency exchanges. According to CoinMarketCap data, REEF has consistently been one of the top trending tokens.
What is Reef (REEF)?
Reef is a Polkadot-based DeFi platform that seeks to provide cross-chain trade. Among the project’s features are a yield engine and a smart liquidity aggregator.
In the second part of 2020, work on the project began. Reef’s supporters claim that the present method of trading, lending, and staking Reef and other cryptocurrencies is fragmented, resulting in “a terrible experience for all of its participants.”
Reef collects liquidity and automates the process. It also tries to overcome the disadvantages of current trading platforms. While centralized exchanges are vulnerable to security breaches, decentralized competitors might be lacking in liquidity and difficult to use.
The Founders of Reef
Denko Mancheski is the founder of Reef. His objective was to lower the technological obstacles to entry for retail investors interested in DeFi and provide a simple decision-making process that considers a user’s risk appetite.
Mancheski intended to make it easier for crypto novices to understand how different protocols work by removing the complications associated with using order books.
Mancheski formerly worked at Adel, a global crypto community that acts as a “technology incubator for blockchain innovation.” He was also named CTO of Viewly, a social video platform that does not display ads.
What Makes Reef Unique?
Reef is aimed at both newbies and current DeFi users who are having trouble keeping up with the finest investment methods. The company also intends to address the hefty gas fees seen on the Ethereum blockchain, which some argue make DeFi protocols “unusable.”
One of Reef’s distinguishing features is its ability to integrate any DeFi protocol into its operating system. Users can enter and exit their desired positions with a single click, which alleviates part of the complexity of handling liquidity pool tokens.
Reef can handle DeFi protocols on Avalanche, Moonbeam, and Plasma, as well as Ethereum and the Binance Smart Chain, according to the way it was developed on Polkadot. As a result, Reef users can access a larger number of platforms without creating several accounts or remembering a plethora of usernames and passwords. This has only simplified the Reef Staking options for traders today.
Staking Reef with UniFarm
Reef Finance had joined the pool of OroPocket’s new initiative UniFarm, where participants could stake REEF tokens and farm multiple other tokens in the UniFarm Cohort.
Users staked their assets in the UniFarm pool and earned a minimum APY of 40% and a maximum of 250%, depending on how long they stayed staked.
Owing to the additional optionality that UniFarm offers to its investors, a user staked $REEF tokens on the platform and earned a staggering 400.66% APY.
Reef staking opportunities are expanding with time. The project has proven its worth over time and is meant to go a long way.
UniFarm is a one-of-a-kind staking solution where the best projects in DeFi space come together to provide value to investors. UniFarm allows you to stake one token but earn multiple high-value tokens, so in addition to a great APY, your returns are automatically diversified as well.