Share this article
“Binance Launchpool, a new initiative designed to bring the decentralized finance (DeFi) experience to Binance users, today announced its new project, Reef Finance, a multi-chain smart yield engine and liquidity aggregator where any financial hub can integrate into.” Pioneering DeFi on Polkadot: Binance Launchpool Introduces Reef Finance, Binance.com, Dec 22, 2020
Reef gives the retail investor access to the DeFi landscape with a very low technical barrier of entry while at the same time it augments the decision making process based on user’s risk levels. On the heels of its latest integration with Binance, one of the leading crypto exchanges globally by trading volume, Reef Finance is introducing its native token REEF to the extensive user base on the Binance platform through the Binance Launchpool. The strategic collaboration enables Binance users to take advantage of crypto purchases with FIAT and trading through the Reef Finance platform in a non-custodial manner. In addition, Reef Finance eyes the potential offering of Binance Chain support to its users in the future.
Binance’s Launchpool platform was created by the exchange to facilitate new digital farming for users. The project is now aiming to simplify the reward acquisition process for staking BNB and other assets on the Binance platform. Historically, with Hard Protocol and Unifi DAO, Binance launch pools have catapulted projects into new heights by market cap. During Launchpool participation users will be able to stake their BNB, BUSD, or DOT tokens into separate pools to farm $REEF tokens, starting from 2020/12/23 at 0:00 AM (UTC). Binance will then list REEF in the innovation zone at 2020/12/29 6:00 AM (UTC) and open trading for REEF/USDT and REEF/BTC and trading pairs. Reef is also the first Launchpool project where Binance users would be able to stake their DOT tokens and earn staking rewards. To sum up, DOT holders can now farm Reef on Binance, whereas…