BENEFITS OF JOINING THE REEFDEFI COMMUNITY
Reef Finance is a simple interface that allows users to interact with all their preferred DeFi applications in a place. It is a liquidity aggregator and multi-chain smart yield engine that allows the integration of any DeFi protocol. It has been created with Polkadot and shares its security model across the ecosystem while enabling cross-chain integrations. With Reef Finance it becomes possible to buy, trade, stake, loan, and borrow a variety of assets in one platform. Reef will allow retail investors a way to access DeFi without significant technical barriers, while also aiding in the decision-making process.
The underlying infrastructure of Reef is a chain of smart contracts that compose and integrate the ecosystem. This is the base component of the system and is known as the “basket engine.” It communicates with the analytics engine and liquidity aggregator to allow a user the ability to enter and exit positions on multiple DeFi platforms from one easy-to-use interface.
The system also includes a utility token called REEF, which can be used for the governance of the system and to pay for fees within the ecosystem. It can also be used as a medium of exchange and it is available for trade on several exchanges.
Reef Finance pulls liquidity from multiple sources and puts them to work across multiple DeFi protocols such as Aave, Compound, Synthetix, and Uniswap. Not only does this help by stabilizing liquidity, but it also helps users to find the best interest rates easily. Reef Finance achieves this through the use of the ‘Basket Engine’ (composed of the ‘Reef Intelligence Engine’ and the ‘Reef Smart Yield Engine’). This allows users to earn a yield on their staked tokens. Furthermore, the Basket Engine combines intricate protocols to enable easy mining, borrowing, and lending services for users of Reef Finance. This is one of the many benefits of Reef users.
The Reef community allows its users have full flexibility over the amount they invest and the duration tokens staked. The Smart Yield Engine will be able to support various types of digital currencies, including stablecoins, hybrid tokens, and synthetic tokens. Additionally, the protocol enables automatic staking for users investing in Proof-of-Stake tokens. Moreover, Reef Finance has partnered with several insurance projects to provide financial cover for its users. These projects include Opyn, Etherisc, and Nexus Mutual. These benefits distinguish the Reef Finance users from other DeFi users, giving them an ideal experience.
The Reef DeFi community is a growing community. It has regional communities in China, the US, Korea, and Vietnam. The project has plans to extend its reach to other markets globally as the project gains more popularity, so joining this growing community will be of benefit. Some current community growth strategies are listed below, this will add more benefits (aside from the already listed) for their users;
1. Expanding the ecosystem through strategic partnerships with established projects.
2. Organizing and participating in various crypto and blockchain events to build more engagement with Reef users and the community.
3. Providing online product demos and hosting webinars to engage with developers.
4. Providing weekly and monthly updates to the community about the project’s latest news and technical developments.
5. Amplifying Reef’s reach to new markets and communities with the help of the ongoing Reef Ambassador Program (Reef Rangers).
