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February 25, 2021
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Decentralized Finance

Reef Finance Integrates with Blockchain Platform Kava to Supply “World-Class” DeFi Companies

Reef Finance has reportedly built-in with Kava to supply “world-class” decentralized finance (DeFi) companies to platform customers.

As famous within the announcement:

“Kava [has] partnered with Reef Finance, the main DeFi challenge within the Polkadot ecosystem. The cooperation will carry Kava’s collateralized loans, USDX stablecoins, HARD Protocol and different … enticing yield alternatives to Reef customers.”

As beforehand reported, the Polkadot Community goals to supply “unprecedented” financial scalability by enabling a standard set of transaction validators to safe a number of blockchain platforms.

The USDX stablecoin is a cryptocurrency that goals to supply the identical degree of “stability and belief” of the US greenback. The coin could also be acquired by way of a cell app and could also be used to ship funds as simply as sending a message. The HARD protocol is described as a permissionless and “decentralized” cross-chain cash market. Customers had been capable of stake their Binance Coin (BNB), Binance USD (BUSD) and KAVA tokens into completely different swimming pools with a purpose to farm (or earn) HARD tokens.

Kava claims that it’s the primary DeFi initiative on the Cosmos blockchain or distributed ledger know-how (DLT) community. Kava focuses on providing interoperability to DeFi. Kava’s platform affords varied cross-chain DeFi alternatives, collateralized stablecoin loans, and real-time value feeds by way of Chainlink’s widely-used oracle community.

As confirmed in a weblog publish by Kava Labs, Refrain One, which runs transaction validator nodes and staking companies for Proof-of-Stake blockchains, has been awarded a grant from the Cosmos Interchain Basis to develop a Substrate implementation of the inter-blockchain communication (IBC) protocol which “goals to attach the 2 ecosystems.”

As talked about within the announcement:

“As a part of this effort, Reef Finance will combine with rising applied sciences like IBC to create a cross-chain DeFi ecosystem. Kava is the primary challenge constructed with Cosmos SDK that may combine with Reef’s platform. The partnership brings a bunch of options to Reef Finance’s DeFi platform:”

The weblog additional famous:

“Kava’s platform gives collateralized loans within the type of Kava’s stablecoin USDX, in return for cryptocurrencies from completely different blockchains, together with BTC, ETH, XRP, BNB, ATOM, and so forth. Via this partnership, customers of Reef’s DeFi platform will be capable of simply entry the collateralized loans obtainable on Kava’s platform.”

Reef reportedly leverages an AI and machine studying (ML) powered DeFi Sensible Yield Farming engine that may let customers entry varied yield farming alternatives which are being supplied by way of the Kava platform. This additionally affords Reef’s customers the choice to “diversify their funding additional, by way of Reef’s sensible portfolio administration instruments.”

(Be aware: for extra particulars on this announcement, examine right here.)

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