The crypto money exchange Binance has announced the new project it will support under Launchpool as Reef Finance (REEF). In which liquidity pools will Reef Finance, a multi-chain liquidity aggregator powered by Polkadot, be supported under Binance Launchpool, and when will Binance list the REEF token?
Crypto currency exchange Binance has announced that it will support the Reef Finance (REEF) project within the scope of Binance Launchpool, with its blog post. Binance users will be able to start staking activities on Binance Launchpool as of December 23, 2020. Exchange users will be able to put their tokens separately in BNB, BUSD and DOT pools for 30 days to obtain Reef tokens.
According to the information released by Binance, the exchange will then list the REEF coin. Binance users will be able to access REEF tokens listed in the Innovation Zone on December 29, 2020. Binance also announced the trading pairs for REEF as REEF / BTC and REEF / USDT.
What is Reef Finance (REEF)?
Reef, a cross-chain DeFi project built on the Polkadot ecosystem, aims to provide smart lending, staking and mining services through the artificial intelligence-supported personalized “Reef Yield Engine”. While performing these services for its users, Reef also functions as a smart liquidity collector providing access to liquidity from centralized and decentralized exchanges.
When asked why they built Reef Finance on Polkadot, the project developers explained that they were impressed by Polkadot’s interoperability. The developers also mentioned the highly efficient communication possibilities of the Polkadot ecosystem and a highly secure network.
REEF is Reef Finance’s local cryptocurrency. With REFF, which is a governance token for the platform, investors can have a say in important decisions such as the release of new features in the project and the adjustment of some parameters in the system. In addition, users can pay the transaction cost with REEF tokens for the services you want to use within the platform.