Alameda Research made a $20 million investment in REEF Finance. It was achieved by buying REEF tokens.
Alameda Research, which was established in 2017, is one of the most well-known cryptocurrency research and trading firms. Reef Finance, a cross-chain DeFi operating system, has received a $20 million investment from the firm.
REEF Finance, a successful DeFi cross-chain operating system, has received a $20 million investment from Alameda Research.
The organization made the investment by purchasing REEF tokens, according to a press release, and as a result, it has become a major stakeholder in the REEF ecosystem.
This will also result in the creation of strategic collaboration, which may allow the protocol to engage with additional Alameda Research partners in the near future.
Denko Mancheski, CEO of REEF Finance, commented on the situation:
”As our company expands into the next stage of growth, I am delighted to welcome Alameda Research to the Reef Finance budding ecosystem. We’re excited to incorporate this investment to further our trajectory and for the develompent of the Reef chain for DeFi applications of the future.”
Alameda Research, on the other hand, expands its participation in cross-chain liquidity within the industry with this latest investment. More integrations with Serum and Raydium on the Solana network will be possible as a result.
It’s also worth noting that REEF is by far the first Polkadot-based cross-chain DeFi operating system.