Partnership between Reef Finance and Lendefi protocol

Reef Finance is pleased to announce their partnership with Lendefi protocol, to build on Reef Chain. The Lendefi protocol facilitates leveraged trading and secured lending within a trustless environment. This delivers confidence to both traders and lenders within volatile cryptocurrency markets.

The Lendefi protocol facilitates leveraged trading for digital assets combined with secured lending. Borrowers will be able to decide what factor of leverage they wish to access and can choose from a number of approved tokens to invest in. The protocol is decentralized and delivers advantages to both lenders and borrowers. The integration of the Lendefi protocol onto the Reef Chain will introduce a credit pool directly linked to the Reef Chain. In addition, a bridge will be created to facilitate the conversion of ERC-20 and BEP-20 tokens to REEF-20. Lendefi will transition the decision-making associated with its protocol into an interoperable DAO

About the partnership

Through close cooperation and further development of Lendefi’s technology for the Reef ecosystem, opportunities will be created for lenders of digital asset lenders to generate returns from interest rates. Borrowers will be able to access leveraged trading positions through Lendefi’s lending pool.

About Lendefi protocol

The Lendefi protocol (the “Protocol”) allows secured lending, giving the much-needed confidence to the lenders in a highly volatile crypto market. Secure lending options will open up lending opportunities for traditional and private lenders to access higher interest rates without getting direct exposure to the crypto market fluctuations.

Lendefi protocol cuts the middle-man out of the lending process and eliminates the red tape involved with the lending and borrowing. This removes any counterparty risk between the borrower and the lender, who then can deal on a trustless basis.

More about LenDeFi

About Reef Finace

Reef is a DeFi platform built on Polkadot that aims to deliver cross-chain trading. A yield engine and a smart liquidity aggregator are among the project’s offerings. Reef aggregates liquidity and provides automation. It also aims to address the drawbacks associated with existing trading platforms. While centralized exchanges are prone to security breaches, decentralized rivals can lack liquidity and are often difficult to use.

Reef Finance is building Reef Chain, a DeFi blockchain built using Substrate Framework. Reef Chain provides high scalability, enabling almost instant low-cost transactions. Reef Chain supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Reef Finance’s vision is to make it easy to invest in DeFi and to build DeFi applications on top of Reef Chain.

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