Reef Finance has celebrated the launch of the mainnet and it is also aiming to add more features to its platform with its new partnership with Klever, one of the leading cryptocurrency wallet providers in the world.
Created by Reef Finance, the highly scalable, Solidity and EVM-compatible Reef Chain based on the Polkadot Substrate framework aims to provide the all-in-one platform for new and existing DeFi dApps.
By going live on the mainnet , developers and users on the blockchain are offered highly scalable, interoperable, and secure access to the growing DeFi ecosystem.
New Liquidity Bridge and Staking Capabilities Being Developed for Reef
Under the strategic partnership, Klever will become the first external validator for Reef Finance.
Not only will it offer the only liquidity bridge for REEF holders to exchange the native REEF tokens to Reef Chain mainnet through Klever Swap service, but the wallet provider will also allow users to stake the swapped REEF tokens by using its wallet.
Therefore, users will have the opportunity to increase earnings on revenue from their holdings.
Speaking to the new collaboration, Denko Mancheski, Founder of Reef Finance said,
“It’s time that Reef opened the floodgates for DeFi. Our focus is enabling a new age of cross-chain DeFi, where users from other blockchains can use Reef Chain for all their DeFi needs without hassle. This partnership with Klever is a massive step forwards in terms of decentralization and we are deeply impressed by the professionalism and success of their team. It’s with great pleasure that we announce our new liquidity bridge and staking capabilities with Klever.”
Advancing The DeFi Ecosystem for Reef Finance
Thanks to its interoperability across multiple chains, including Polkadot, Ethereum, Cosmos, Binance Smart Chain, Avalanche, and more, Reef Chain is able to bring benefits to the DeFi environment.
Partnering with Klever is not only a strategy to rapidly grow the Reef ecosystem, but its EVM compatibility also creates favorable conditions for the seamless migration of other DeFi dApps from Ethereum.
Dio Ianakiara, Klever CEO and Co-founder added,
“Klever is all about making it easy to manage and grow your crypto while supporting ambitious projects with the same mindset. Therefore we are proud to enter this strategic partnership with Reef Finance to provide the only liquidity bridge to Reef Mainnet seamlessly through Klever Swap and enable Reef Mainnet Staking in Klever. We are also excited to become the first external validator on Reef Mainnet, bringing the vast experience of node operations as Klever today maintains close to 100 different nodes on dozens of major blockchains, and being part of advancing decentralization throughout the crypto industry.”
By opening a liquidity bridge with Klever, in addition to being able to tap into Klever’s extensive user base, Reef Finance also offers more value-added features for Klever’s quickly expanding community.
Moreover, the combination of both platforms’ elements ensures the highest yield generating opportunities for their users in digital asset holdings.
A Growing Platform
The company’s product, the DeFi blockchain Reef Chain, uses Substrate Framework to provide high scalability and allow almost instant low-cost transactions, as well as supporting Solidity and EVM.
Therefore, developers can seamlessly migrate their DApps from Ethereum with no charge in the codebase.
The company previously introduced its first cross-chain DeFi operating system, allowing users to trade by accessing liquidity from both CEXs and DEXs in one place.
Also, the DApp with an AI-driven personalized Reef Yield Engine provides smart lending, borrowing, staking, and mining features.
Klever is one of the largest global cryptocurrency service providers, serving over 3 million users in more than 200 countries.
The platform offers a range of features such as more than 300 trading pairs, Klever App, Klever OS, Klever Swap, Klever Exchange, among other emerging products and services.