Reef Finance Rebrands to Reef As It Commences Development Of EVM-Compatible Blockchain

By blockchainnews
November 12, 2021 Updated November 12, 2021
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San Francisco, California, 12th November, 2021,

As part of its rebranding initiative that started earlier this year, Reef Finance is undergoing a major platform-wide revamp. Starting today, Reef Finance is officially titled Reef, alongside a newly-launched website, now live at https://reef.io.

The journey from Reef Finance, a decentralized finance (DeFi) focused parachain on Polkadot, to Reef, a layer-1 Ethereum Virtual Machine (EVM)-compatible blockchain, is the fruit of constant work in progress and reinvestment. The launch of the new website and a new brand focus will play critical roles in helping transform Reef’s face value from a DeFi operating system into a Substrate-based blockchain with smart contract functionality that is reliable, economical, and fast. 

Since its inception, Reef has successfully positioned itself as a one-stop, cross-chain network that’s easy to use for veterans as well as newcomers. As such, the rebranding aligns with the platform’s core vision of building an infrastructure that makes it easy for anyone to leverage features that supplement DeFi with other products while enjoying an unmatchable development experience.

The Reef community is growing exponentially, further supporting the rebranding decision that the Reef Finance team embraced earlier this year. With the blockchain ecosystem witnessing increased multi-chain transactions between dApps and protocols, Reef has established itself as a leading destination for developers. Not only does the platform offer full compatibility with Ethereum-based smart contracts, but it also enables dApp developers to tap into the vast community of REEF token holders.

Following the launch of the new website, Reef aims to accelerate work on its broader goals and attract users and developers to leverage its blockchain solution designed as the most advanced EVM-compatible blockchain. Per the Reef team, the website is just the first step in the platform’s new development timeline. Over the coming months, Reef will roll out Ledger hardware wallet support, Reef Debit card, a native browser extension, a native dApp, and a dedicated mobile app that prioritizes a seamless user experience.

About Reef

Reef is an EVM-compatible blockchain for smart contracts with low fees, high scalability and amazing user experiences. Earlier, Reef Finance offered a DeFi platform that helped users access liquidity from centralized exchanges (CEXs) and decentralized exchanges (DEXs). Reef Finance has become Reef, a Substrate-based layer-1 blockchain with smart contract functionality as part of its rebranding. The new iteration features rapid throughput, low transaction costs, high scalability, and offers on-chain governance without wasteful mining.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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