Reef And Avalanche Set To Partner To Introduce New Projects In DeFi Space
The DeFi space is set to continue to witness innovation in 2021, a progress chain that extended from 2020. In a new project set to see the light of the day in the first quarter of this year, Reef Finance has announced a recent merger with Avalanche Blockchain(AVAX), set to allow users of AVAX to use DeFi applications uninterruptedly via Reef’s Platform. In Reef Finance’s announcement, the project launching by the first quarter will typically launch its first phase before other phases follow suit.
Reef set to support AVAX-affiliated tokens
The new partnership will see Reef finance provide support to the tokens in the Avalanche Blockchain. Reef Finance, a cross-chain smart yield engine and liquidity aggregator, allows any DeFi protocol to access liquidity from both centralized and decentralized exchanges.
The company also gives retail investors access to the DeFi landscape with a low technical entry barrier while at the same time augments the decision-making process based on users’ risk levels by providing a range of portfolio baskets containing different DeFi products. The bulk of the support to the users of the AVAX token will be provided via investment opportunities, as users are expected to enjoy the financial prowess affiliated with Reef.
On the other hand, Reef’s customers will now have the capabilities of investing capital into AVAX in a bid to maximize savings and earn profitable interest in stablecoins. The reward program was launched natively on the AVAX platform via yield farming baskets.
AVAX joins the long list of Blockchain platform Reef is partnering
In a very long list of Reef Finance partnerships, AVAX has seen itself as the latest blockchain platform the DeFi operating system is integrating with. Avalanche is a high-speed smart contracts platform that typically provides supports to sub-second finality and Visa-level throughput.
A typical feature of AVAX is that apart from it being highly compatible with Ethereum smart contracts, applications, and tooling, it also processes its transactions in microseconds with little fees. The Blockchain platform also supports the Ethereum Virtual Machine, and thus, Ethereum tooling works out of the box. AVAX has joined the list of blockchain platforms like Ethereum and Binance Smart Chain, to be the latest Reef is partnering.
AVAX continues to dominate the blockchain space
AVAX continues to poise itself as an innovative and progressive blockchain platform. On 21st September 2020, the platform launched its mainnet, which has now seen the blockchain platform gain about 650 full, block-producing validators participating in-network consensus and about 2,500 delegators participating staking.
The success witnessed by AVAX has resulted in about $1.3billion being staked in the network and now placed the platform as the most decentralized blockchain platform. The network also proved that it is continuing to improve all decentralized app users’ experience on its platform when it solved one of the most important network challenges facing Ethereum by launching an Avalanche-Ethereum Bridge late last month.