What is Reef Finance? What makes REEF a unique DeFi project?

What is Reef Finance?
What makes REEF a unique DeFi project?
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Reef Bonds, an innovative initiative of Decentralized Finance, is recently launched by Reef Finance and with Reef, one kind of asset can be staked, and tokens of the different projects can be farmed.

DeFi projects are gaining popularity day by day. Still, they usually lack interoperability, i.e., users have to interact with different applications to make full use of Decentralized Finance, which is often frustrating. Here comes the Reef Finance project, which aims to provide an interface to allow users to interact with DeFi applications in one place.

Reef Finance attempts to create a platform where various Decentralized applications are combined to make it easier for the users to access the DeFi ecosystem. Users can now buy, trade, borrow and loan different assets in one place. Retail investors can now access the DeFi without the technical barriers, which in turn aid the decision-making process.

The current market price of REEF is $0.0439, with an increase of nearly 4.89% in 24-hours. The project was started in the second half of 2020. Denko Mancheski founded it to remove the barriers to the entry of all the retail investors in the DeFi market. Mancheski wanted to overcome the complexities associated with the use of order books. What makes Reef unique is that it is focused on newcomers and current DeFi users facing difficulties in maintaining the investment strategies. It also aims to tackle the high gas fees which are seen on the Ethereum platform.

Reef's unique attributes include that the users can easily enter and exit with a single click into their chosen positions. The Reef supports Decentralized protocols on Plasma, Moonbeam, ethereum, Binance Smart Chain, and Avalanche. It makes its users able to access various platforms without the need for multiple accounts, which are difficult to keep track of.

Talking about the current scenario of the DeFI ecosystem, there are many barriers to entry into this ecosystem for the new investors. It makes the investors confuse by working on several different platforms to manage their wallets. There is a chance to make mistakes and an inherent complexity in the system. The Reef team enabled interoperability among the platforms by working on the solutions to the DeFi ecosystem's complexity.

The Artificial Intelligence and Machine Learning powered algorithms of Reef help aggregate the liquidity from different decentralized and centralized sources and thus present the most beneficial opportunities to the DeFi users. The current exchanges to trade REEF include Huobi Global, Binance, HitBTC, Mexo Exchange, and FTX. Reef finance was the first Polkadot project which was listed on Binance Launchpool. On Binance, users can farm REEF by staking their BUSD, DOT, and BNB tokens.

Another interesting fact about Reef is that the project benefits the users in terms of transaction cost and speed because it is built on Polkadot instead of the Ethereum network.