Main navigation

Reef Finance Finally Shares Mainnet Dates for Reef Chain, Teases Massive Opportunities for DeFi

News
Thu, 04/22/2021 - 13:08
article image
Vladislav Sopov
New blockchain tailored to meet the requirements of DeFi era to be unveiled by Reef Finance team
Reef Finance Finally Shares Mainnet Dates for Reef Chain, Teases Massive Opportunities for DeFi
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Contents

Reef Finance, a pioneering cross-chain "operating system for DeFi" releases its own blockchain platform. According to a press release shared with U.Today, Reef Chain will go live in mainnet as soon as in early May.

Reef Chain launches in May on Polkadot's Substrate

Reef Chain, a native blockchain by Reef Finance, will be released as a "standalone" platform on Substrate, an interoperability framework by Polkadot.

Reef Chain launches in May
Image via Reef Finance

Thus, Reef Chain will act as a scalable and high-performance platform for decentralized financial protocols. The design of Polkadot's parachains will ease the migration of protocols to it.

The new platform will be fully compatible with Ethereum Virtual Machine (EVM). That said, both Solidity or Vyper smart contracts would be easily deployed to its mechanisms.

Seamless integration with Ethereum (ETH), Polkadot (DOT) and Binance Smart Chain (BSC) will provide a technical framework for massive liquidity injections.

New platform will advance DeFi experience: here's why

Denko Mancheski, CEO at Reef Finance, stresses that Reef Chain addresses the most irritating "pains" of the modern DeFi scene:

Demand for DeFi is insatiable. First it was Ethereum and skyrocketing gas fees, now we are seeing that even others like BSC are starting to have issues with performance. Reef Chain’s launch couldn’t have come at a better time.

Also, the Reef Finance team highlights the role of the community in Reef Chain's success. DeFi engineers will be welcomed by Reef's audience of users, as well as its network of partners, VC supporters, exchanges and so on.

At press time, Reef Chain is up and running in Maldives testnet. DeFi enthusiasts can experiment with migration scripts and tools in a sandbox environment.

article image
About the author

Blockchain Analyst & Writer with scientific background. 6+ years in IT-analytics, 3+ years in blockchain.

Worked in independent analysis as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)