The first cross-chain DeFi (Decentralized Finance) operating system built on Polkadot is Reef Finance, which is a universal DeFi liquidity aggregator. It recently launched the V1 testnet of Reef Chain called 'Maldives'.
The ReefChain has been developed on Substrate Framework, it is tailor-made solely to power the DeFi DApps (Decentralized Applications) of now and the future. Its launching brings the possibility for developers to and deploy smart contracts built using solidity programming language, users can also tests these DApps.
Reef Chain is built in Rust and based on Polkadot's Substrate framework, the Substrate allows it to support other projects in the DeFi ecosystem and also maintains compatibility. This gives a possibility of running Ethereum-native smart contracts on Reef Chain, a big boost for developers to move their DApps (about to be built or existing) Reef Chain.
Developers get to take advantage of a better scalability as compared to what they once had, and they also get to make use the Chain's vast aggregated liquidity and large community. The Reef Chain is self-upgradeable, and an upcoming Liquidity Bridge will connect it to the vast crypto ecosystem.
Maldives testnet is the first of Reef Chain Testnets and the Reef team would like developers to test the platform. The feedbacks will go a long way so as to improve the V2 Testnet which will be launched soon, especially from developers that will be porting their DApps (porting scripts).
Alongside the testnet launch, Reef Network is launching a comprehensive program to support developers building on Reef Chain. Projects on Reef Chain will be supported throughout their journey with a Developer VIP program, which entitles them to close integration support and discounts on popular tools like Tenderly and Fleek.
Developer VIP members will have access to discounts and preferential queue placement, speeding up the long and expensive process of securing a smart contract protocol.
See the official announcement post here
When it comes to DeFi project, a platform to earn the highest and safest yield on their crypto Assets, Reef Finance is where to be.
About Reef Finance.
Reef is a yield engine and smart liquidity aggregator that provides trading with access to liquidity from both CEXs (centralized exchanges) and DEXs (Decentralized exchanges).
Reef also offers smart lending, borrowing, staking, mining through AI driven personalized Reef Yield Engine. Making life easy for its users.
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