- Reef Finance is launching a $20 million grant for the development of Reef Chain.
- This is in line with its decision to support developers with tools to build DeFi apps.
- The grant will target projects that focus on deploying apps with real-world use-cases.
Reef Finance is launching a $20 million grant for the development of the Reef Chain, following the DeFi platform’s successful launch. The grant is meant to encourage onboarding top developers. It will equip them with tools to build advanced DeFi applications in the Reef ecosystem.
This is a huge step in the company’s attempt to develop one of the fastest-growing ecosystems in the DeFi area. Not just this, but it will support developers as they grow as well as provide the required infrastructure for app-building.
We at Reef believe that good developers are the frontiers in the adoption of solutions within any blockchain, and as we work towards making DeFi easy for everyone, we also believe that encouraging the development of solutions for our developer community is the fastest way to achieve this.
Reef Finance intends for this grant to target projects that focus on building and deploying apps that have multiple real-world use-cases. In addition to that, their emphasis is on projects that will drive mainstream adoption within the Reef ecosystem.
Some of the categories they aim to provide funding for include:
- DeFi Lending protocols and Bridges
- Runtime Modules/Chains
- NFT Development
- Development and Deployment Tools
At a time when competition in the digital space is at the peak, Reef Finance’s grant will encourage innovation and new ideas. The DeFi blockchain is looking to provide support to companies and developers through their development cycles.