Reliable Extensible Efficient Fast abbreviated as REEF. It is Layer-1 Blockchain for Defi, NFT & Gaming. It is built using a Substrate Framework. As a result, it provides the highest scalability. Furthermore, it allows nearly instant transactions at a low cost. Also, it supports Solidity and EVM, which allows developers to easily transfer their DApps to Ethereum without any modifications to the codebase.
Reef Chain is the most modern EVM-compatible blockchain. It’s self-upgradable, and it can manage the chain. Its infrastructure can also support EVM extensions, allowing native token bridges and schedule calls (i.e., regular payments) and smart contract upgrade of code. Soon, the network will support additional VMs that allow programmers to create code in several programming languages. In addition, the network uses a Nominated Proportional Proof-of-Stake (NPS) agreement mechanism that allows for high scalability and lowers fees.
Ref is the indigenous token that is used to:
- Processing fees for transactions and for storing information.
- Staking validator nodes to run the nodes and taking REEF tokens.
- Determining which validator nodes should be included in the network.
Reef is supported by several top venture capitalists and funds such as NGC, QCP, Bitcoin.com, Kenetic Capital, LD Capital, TRG Capital, Krypital Group, Genesis Block, Woodstock Fund, etc.
Where to Buy Reef (REEF)?
Binance provides the most range of pairs in September 2020, offering to trade with USDT, BTC, and BUSD. Huobiexchange also offers Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) options.
It is also available on Gate.io as well as Bitfinex. Bitfinex also has a partnership with Reef Chain.REEF could also be accessed through decentralized exchanges, such as 1inch and Uniswap.
These are the top 3 exchanges that permit you to purchase Reef (REEF) currency using either a debit or credit card as well as Bitcoin (BTC).
Top 3 Exchanges Where You Can Buy Reef Crypto:
Binance is among the most popular and famous cryptocurrency exchanges in the world. The benefit of buying Reef (REEF) with Binance is that you will benefit from the lower cost of exchange compared to other exchanges and the higher liquidity that lets you trade and buy quickly to profit from market-moving announcements.
This exchange is suitable for Australia, Canada, Singapore, the UK & international users. Unfortunately, USA residents aren’t allowed to buy REEF.
Gate.io was launched in 2013 and, while it’s not one of the most popular exchanges, they offer a reliable trading platform that offers an intuitive interface for beginners while providing robust and modern charts for all levels of expertise, including technical traders.
They offer a wide range of altcoins like Reef (REEF) as well as they are usually one of the initial exchanges to introduce new tokens. The best part is that they take a firm stand against market manipulation. This exchange currently allows USA residents.
Huobi Global was established in 2013 and has since grown into one of the largest digital asset exchanges, with the total trading volume reaching US one trillion dollars. It was once the source of 50% of all digital trades in assets,
Huobi is now serving more than 5 million users from more than 130 countries across the globe. It is important to note that they do not allow USA residents. They are among the leading exchanges that provide Reef (REEF) Trading options.
What Does Reef Do?
The concept of Reef is to streamline Defi to make DeFi accessible to all users by connecting the blockchains in one place. In addition, the creator, Denko Mancheski, claims that Reef will help make DeFi more accessible by making it possible for people to earn cash through trading tokens built on various blockchains without worrying about the possibility of conversion.
Advantages of Reef Finance
The Reef platform can be used with all major Defi wallets like MetaMask, WalletConnect, Torus, and WalletLink. After users have connected their wallets, they’ll be able to see an inventory of all the belongings to them and their current value. They may also change them into the Reef token or transfer them to another blockchain.
The main benefits of Reef Finance are:
- Compatible with DEXs and CEXs.
- Compatible with the major native blockchains and tokens
- Terminal for trading at the ReefReef and yield engine
- Smart contract compatible with REEF-20 assets
- Partnerships with some of the world’s most important exchanges and blockchains
- Fully decentralized, including staking and other options for governance
- Security and scalability of the Polkadot network.
Reef token acts as the official currency of the REEF chain, and it is used to exchange liquidity transactions, governance, and transaction fees. The Reef token is a circulating supply of 16 billion tokens and 20B tokens. Most Reef tokens trade on exchanges that do not have centralized control, like Ethereum or BSC.
The Reef token’s primary function is that it facilitates the transfer of liquidity between blockchains. This is possible through their platform. In addition, the holders can take part on the board of governance and cast votes on matters such as partnerships and features.
Holders of the Large Reef token have the opportunity to be part of the maintenance of the network. They are referred to as “Network Collaborators,” They create new blocks for the Polkadot Ledger. Their APR is influenced by how big the blocks are locked and the duration of time.
Reef Crypto has introduced many new features to the DeFi landscape. Reef faces no competition in the cross-chain market. However, its prospects will be dependent on how the cryptocurrency market reacts to the new product. If Reef can build many users and early investors gain tremendously from owning this cryptocurrency.
Investors who believe in Defi growing in the next 10 years could consider investing in Reef profitable as it is poised to be one of the main intermediaries between different blockchain networks. In addition, the reef can also be part of the governance process of Reefand choose to implement the new features.