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Reef Finance Works With Klever to Enhance Reef Chain Mainnet

Reef Finance Works With Klever to Enhance Reef Chain Mainnet
  • Reef Finance and crypto wallet provider Klever are coming together for a strategic collaboration.
  • The partnership will give Reef Finance access to Klever’s 3 million+ global user base.
  • Klever will serve as the first and only external validator for Reef Finance, offering a liquidity bridge.

DeFi giant Reef Finance is working with leading cryptocurrency wallet provider Klever for enhancing its platform’s infrastructure and lowering DeFi entry barriers. The two industry leaders will work together in a strategic partnership that bridges liquidity and delivers staking to Reef Chain mainnet.

The partnership will pave the way for the Reef ecosystem to connect with Klever’s 3 million+ global user base and add value to its own growing community. On the other hand, Klever will get the chance to not only serve as the first external validator for Reef Finance but will also offer the only liquidity bridge for REEF token holders. This will let users easily exchange the tokens to the Reef Chain mainnet through the Klever Swap platform.

As per terms of the partnership, Klever will also allow REEF holders to stake tokens through its wallet. They can do this after exchanging them via Klever’s swap platform and generate added returns.

Being the first cross-chain DeFi operating system, this partnership opens new, unprecedented opportunities for Reef Finance and DeFi both. About this, Denko Mancheski, the Founder of Reef Finance, said:

It’s time that Reef opened the floodgates for DeFi. Our focus is enabling a new age of cross-chain DeFi, where users from other blockchains can use Reef Chain for all their DeFi needs without hassle. This partnership with Klever is a massive step forwards in terms of decentralization and we are deeply impressed by the professionalism and success of their team. It’s with great pleasure that we announce our new liquidity bridge and staking capabilities with Klever.

The move comes at an exciting time when Reef Finance has successfully transitioned to the Reef Chain mainnet. In doing so, the company has achieved important scalability and interoperability goals. It has also established itself as a cost-effective Substrate-based blockchain network.

Reef Finance, which holds a number of yield products already, is on a mission to reduce significantly any entry barriers for new investors in the Decentralized Finance world. Partnering with Klever gives it access to an extensive user base of over three million consumers across more than 200 countries. Other value-additions from Klever include its trade support for over 300 cryptocurrency pairs across major blockchains. Besides that, it also provides a generous hourly return for users staking KLV, the platform’s native token.

Dio Ianakiara, CEO and Co-founder of Klever, said about the collaboration:

Klever is all about making it easy to manage and grow your crypto, while supporting ambitious projects with the same mindset. Therefore we are proud to enter this strategic partnership with Reef Finance to provide the only liquidity bridge to Reef Mainnet seamlessly through Klever Swap and enable Reef Mainnet Staking in Klever. We are also excited to become the first external validator on Reef Mainnet, bringing vast experience of node operations as Klever today maintains close to 100 different nodes on dozens of major blockchains, and being part of advancing decentralization throughout the crypto industry.

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Lisa is excited about all things tech. She devotedly follows blockchain and crypto updates, sharing her passion through writing about it. She is a regular contributor for cryptocurrency news and articles.