Reef Finance, a cryptocurrency platform for DeFi services, is collaborating with Avalanche to allow users to access Defi services on the Avalanche platform directly through Reef’s ecosystem. The project is expected to roll out with the preliminary features on the Avalanched ecosystem in the first quarter of 2021. It will empower users to access the new wave of cross-chain DeFi applications.
Managing all DeFi activities under one platform becomes hectic without aggregation solutions. Avalanche, is that blockchain platform and analytics engine that ties everything. With this integration, Reef will qualify as the first-ever cross-chain DeFi operating system, having a smart liquidity aggregator that will enable traders to access liquidity from both the centralized and decentralized DeFi exchanges. Reef will also provide its users with a wide range of portfolio baskets containing various DeFi products. Moreover, the AI-driven Reef yield engine will curate personalized investment recommendations to registered users. Reef will support financial primitives and AVAX-affiliated tokens through the Reef basket engine, thereby providing users with more investment opportunities. The integration will also allow Reef users to channel capital into the Avalanche ecosystem to maximize their savings and also to earn higher interest in stablecoins; Stablecoins were launched natively on the AVAX platform through yield farming baskets. Reef’s integration with Avalanche will be its third collaboration; before this, Reef has collaborated with Ethereum and Binance Smart chain.
Until now, DeFi users need to go to individual project applications to reap the benefits of each app. Every single application has some specific requirements and features, like some may require only a single, smart contract approval, while others may need many. Therefore, before the users could reap the benefits of these DeFi services, they need to first accumulate the requirements, and after they comply with those varied requirements, they can avail of the services. With Reef’s integration with Avalanche, users now can avail of all the DeFi services under one platform. Risk-adjusted aggregation is what Reef promises to its users. No more researchers are required for every single application, and users are now exposed to multiple DeFi products with just one-click. Users can now also customize their strategies based on how much risk they can afford to take; Reef will instantly report yield expectations vs. risk ratios for all of its aggregated DeFi products.
With its highly interoperable and open-source ecosystem for launching DeFi applications, Avalanche confirms transactions in less than 1 second and fees less than a cent. Currently, Avalanche’s EVM (Ethereum Virtual Machine) processes transactions at a speed of 470 nAVAX (0.000000470 AVAX). Thus, eliminating the inability to move assets and use of applications due to high gas congestions affecting Ethereum.