Reef Finance, a recently established DeFi blockchain built using Substrate Framework, today welcomed Lendefi to its growing ecosystem among the first lending projects to build Reef Chain. The Lendefi Protocol facilitates leveraged trading and secured lending within a trustless environment.
The entrance of Lendefi on the Reef Chain will introduce a charge pool directly linked to the Reef Chain. Lendefi will transition the decision-making connected with its protocol into an interoperable DAO.
Lendefi enables traders to utilize undercollateralized loans for leveraged trading when providing lenders security and interest payments on a hourly basis. Safety for creditors is delivered via the protocol, which initiates a liquidation event prior to the assets of the lending pool are eroded.
“Reef will provide the true decentralization that Lendefi’s protocol needs to execute our DAO vision. An alignment of visions provides the foundation for a symbiotic relationship between our technologies.”
The Lendefi protocol facilitates leveraged trading for digital assets combined with secured financing. Borrowers will have the ability to make a decision as to what factor of leverage they wish to get and can choose from a variety of approved tokens to put money into. The protocol, initially designed for Binance Smart Chain, is decentralized and delivers benefits to both lenders and borrowers.
Through close collaboration and further advancement of Lendefi’s technology for the Reef ecosystem; chances will be made for creditors of digital asset lenders to create returns from interest prices. Borrowers will have the ability to get leveraged trading places via Lendefi’s lending pool.
Reef Chain relies on the Substrate Framework, which ensures high throughput, safety, and low transaction fees, in addition to a high degree of compliance security. The Substrate Framework is exceptionally scalable, future-proof, and will support a lot of DApps simultaneously. It’s also natively compatible with Polkadot, to readily secure your blockchain and speak with all the Polkadot network.
“Lendefi’s innovative protocol is the first of its kind to deliver undercollateralized loans for digital assets. The potential for growth in this market is significant and we are happy to have Lendefi onboard Reef Chain.”
— Denko Mancheski, Reef CEO
