Reef Finance is entering the fray with its new Reef Chain as Ethereum’s gas fees spike, and the Binance Smart Chain experiences performance issues.
This latest Substrate-based blockchain will go live in early May, but the exact date is dependent on the results of mainnet research, which is currently underway.
This is a logical next step for Reef Finance, which provides a standard protocol for all users across all dApps. It also includes an algorithm that can learn from and expand its knowledge based on a user’s activities and transactions, allowing them to optimize its holdings and investments.
Interoperability Is a Must
Reef Finance‘s goal is to open up the world of decentralized finance to make it easier for anyone to participate. The Reef Chain will enable developers to scale up their projects and completely integrate them with the Ethereum Virtual Machine, while Reef projects will be incorporated into the Polkadot ecosystem.
Because of the integration with EVM, projects can be written in Solidity or Vyper and then passed to the chain.
The EVM is a network of thousands of nodes (individual computers) that work together to maintain the EVM’s smooth and seamless operation. This is the location of all Ethereum intelligent contacts.
The Reef Chain claims to be the ultimate ecosystem for DeFi protocols due to its scalability and deep liquidity integrations, as well as the ability for developers to pick the brains of the extended Reef group, which is made up of users, investors, and exchanges, to help them breathe life into their ventures.