Lendefi protocol is growing its ecosystem as one of the first lending projects to build on Reef Chain.
Reef Finance is pleased to welcome the Lendefi protocol as one of the first lending projects built on Reef Chain to its growing ecosystem.
In a trustless setting, the Lendefi protocol allows both leveraged trading and secured lending. This gives traders and lenders confidence in the turbulent cryptocurrency markets.
Lendefi enables traders to use undercollateralized loans for leveraged trading while also providing lenders with hourly security and interest payments. The procedure provides security to lenders by initiating a liquidation event before the lending pool’s assets are depleted.
The Lendefi Protocol and the Reef Chain.
The Lendefi protocol enables digital asset leveraged trade as well as securedLendefi’s technology for the Reef ecosystem will be further developed, providing potential for digital asset lenders to generate interest rate returns. Lendefi’s lending pool will provide borrowers access to leveraged trading positions.
The addition of the Lendefi protocol to the Reef Chain will result in the creation of a credit pool that is inextricably tied to the Reef Chain. In addition, a bridge will be built to allow ERC-20 and BEP-20 tokens to be converted to REEF-20. The decision-making connected with Lendefi’s protocol will be moved to an interoperable DAO. lending. Borrowers will be able to pick the leverage factor they want to use and which authorized tokens they want to invest in. The system is decentralized, and both lenders and borrowers benefit from it.
Pools and Bridges through Lendefi Integration
The Substrate Framework underpins Reef Chain, ensuring high throughput, security, and minimal transaction costs, as well as a high level of compliance protection. The Substrate Framework is scalable, future-proof, and capable of supporting several DApps at the same time. It’s also built-in support for Polkadot, making it simple to protect your blockchain and connect with the Polkadot network.
Reef Finance backs its ecosystem initiatives with a lot of resources. This is accomplished via the use of internet presence amplification, media contacts, partner networks, and market exposure. The Reef Chain gives you the chance to join one of the fastest-growing ecosystems in the DeFi world.
About Lendefi Protocol
The Lendefi Protocol facilitates leveraged trading through undercollateralized secured lending, delivering confidence to lenders within volatile cryptocurrency markets. It allows users to lend crypto and benefit from interest rates while minimizing exposure to fluctuations in the market. Lendefi’s Protocol cuts the middleman out of the lending equation and eliminates the red tape involved with lending and borrowing. This removes counterparty risk between borrower and lender, creating a trustless transaction.
About Reef Finance
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.