• Latest
  • Trending
reef

Bonding in Reef: Know the benefits

May 30, 2022
Rollout Phases of Klever Blockchain Features

Rollout Phases of Klever Blockchain Features

June 30, 2022
South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

June 29, 2022
buy KNC

How can KNC be used in Klever Wallet

June 29, 2022
ICT sector contributed 16% to Nigeria’s GDP in Q1 2022- NBS

ICT sector contributed 16% to Nigeria’s GDP in Q1 2022- NBS

June 28, 2022
Bitcoin reaching its mid-halving: Reasons & forecast

Bitcoin reaching its mid-halving: Reasons & forecast

June 28, 2022
Blockchain tech is playing a powerful role in LGBT projects

Blockchain tech is playing a powerful role in LGBT projects

June 28, 2022
The difference between layer 1 and 2 blockchains

The difference between layer 1 and 2 blockchains

June 27, 2022
regulate

Governments are rushing to regulate cryptocurrencies

June 27, 2022
Swift

SWIFT testing decentralized technologies for CBDC interconnection

June 27, 2022
create nft token

KleverChain: issuing tokens and NFTs and the variety of options available

June 25, 2022
lightning network

How does Lightning Network benefit crypto users?

June 25, 2022
Trade ETH on Klever Exchange

Trade ETH Pairs on Klever Exchange

June 25, 2022
Klever
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
  • Login
  • Register
Klever News
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap
No Result
View All Result
Klever News
No Result
View All Result
reef

Bonding in Reef: Know the benefits

You could make passive income by simply bonding in Reef

James Enajite by James Enajite
May 30, 2022
in Education, Global, Wallet
Reading Time: 4 mins read
75 0
A A
0
Play
Share on FacebookShare on Twitter

Many crypto users worldwide would be pleasantly surprised if you invited them to bond on the Reef platform and explained the advantages of doing so. It is because the Reef system is not well understood by many people.

Having sampled opinions from crypto enthusiasts and research teams on what they know about Reef, I am now in a position to explain how valuable it is to be involved in the Reef network.

You might also like

Rollout Phases of Klever Blockchain Features

Rollout Phases of Klever Blockchain Features

June 30, 2022
5.6k
South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

June 29, 2022
3.5k

What is Reef Finance?

Reef is a Decentralized Finance(DeFi) operating system. Invariably, it can be said it is a permissionless smart liquidity aggregator comprising a yield engine, such that any financial hub can be integrated into it seamlessly. 

Alternatively, Reef is indeed a smart contract blockchain built using the Substrate framework. 

Reef Chain simply boasts of the following qualities, which included but are not limited to high scalability, enabling low-cost transactions, and supports the main development language “Solidity” in Ethereum Virtual Machine (EVM), allowing developers to seamlessly migrate their dApps from Ethereum without code change.

Reef is powered by the Polkadot blockchain and operates a smart cross-chain integration by sharing its security model with the ecosystem. This makes it possible for other blockchains to be compatible with the DeFi model.

Reef enables trading with access to liquidity from both centralized exchanges (CEXs) and decentralized exchanges (DEXs) while providing services such as smart lending, borrowing, staking, and mining through an AI-driven personalized Reef Yield Engine.

The Reef developers were keen to provide the most accessible and most user-friendly way to enter DeFi for investors no matter where they are located on the surface of the earth or their ethnicity, age, or religion. 

It is entirely an open opportunity for everyone to experience the true nature of decentralized finance (DeFi)  from the comfort of their mobile devices.

What is Bonding?

Most people would rather use common terminology to describe a particular attribute or action within a project. 

However, developers are keen to transform and recreate wonderful products and would also want to think along the lines of their predecessors by creating new terminologies, and attributes hence the word bonding in Reef.

What is Reef Bonding?

Reef Bonds is a DeFi initiative or creation by developers through which users can stake their assets for a certain lock-up period and earn lucrative returns in other tokens as the case may be.

So in other words, Bonding simply means staking on the Reef platform, where each user’s registered deposit address will have a maximum deposit limit configured through smart contracts, and every Reef Bond will also have a certain maximum deposit amount. 

This opportunity has proven to be very lucrative and rewarding. The first such bond ever made available to users was the Reef-Litentry Bond back in 2021. 

People were totally blown away by the response and consequent interest in this DeFi initiative. It was observed that within a few hours, over $4Million worth of assets were locked by users, validating user demand. 

This has also encouraged other developers to think in the same direction to produce DeFi projects of similar capabilities that open the opportunity for a global interest in decentralized financing.

Improvements made to Reef Finance

The Reef finance community was initially plagued with a high cost of transaction fees attributed to the execution of the smart contract. 

However, a subsequent bridging of the smart contract, which was on the Ethereum blockchain to the Binance Smart Chain, saw a drastic reduction in transaction costs as the smart contract was now executed faster and at a lower cost due to the scalability and interoperability functions within the BSC network. 

This has made it possible for more investors to be involved in the DeFi initiative by Reef Finance being run on the BSC network.

Is Reef available in Klever Wallet?

Klever was able to launch liquidity bridges for Ethereum, Binance Smart Chain, and Reef Chain, and eventually became the first external Reef Chain validator. 

There is always a possibility when it comes to breaking barriers with the Klever team of developers.

This has made it possible for potential investors looking for opportunities to bond on the Reef platform to do so effectively on the Klever Wallet and get rewarded seamlessly.

A key passion that drives the Klever team still remains to create opportunities for everyone to become financially free and ensure this is done in a simple and secure way.

It is indeed a Klever thing to do.

Tags: klever walletreef
Previous Post

Catch-up on Kapps

Next Post

How to nominate a Polkadot validator?

James Enajite

James Enajite

A passionate lover of crypto and mankind with an active mind to create content to educate everyone within my sphere of influence. An entrepreneur with an open heart to accommodate young aspiring individuals to achieve their best in a global space.

Related Stories

Rollout Phases of Klever Blockchain Features

Rollout Phases of Klever Blockchain Features

by klever
June 30, 2022
0
5.6k

At Genesis Block, Klever Foundation will manage and operate all network validators to ensure stability ahead of public validators joining...

South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

by James Enajite
June 29, 2022
0
3.5k

The blockchain and crypto space is assumed to experience large-scale fraud and theft of unsuspecting user funds on a frequent...

buy KNC

How can KNC be used in Klever Wallet

by Jagdish Kumar
June 29, 2022
0
3.5k

At a time when the crypto projects mainly depended on liquidity, Kyber Network (KNC) came to the rescue with its...

ICT sector contributed 16% to Nigeria’s GDP in Q1 2022- NBS

ICT sector contributed 16% to Nigeria’s GDP in Q1 2022- NBS

by James Enajite
June 28, 2022
0
3.4k

Nigeria is a nation with the vast majority of resources embedded within the nation.  These resources are not just physical...

Next Post
How to nominate a Polkadot validator?

How to nominate a Polkadot validator?

Please login to join discussion
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recommended

Ethereum

Coin of the Week: Ethereum (ETH)

November 14, 2021
3.3k
Tron (TRX)

Coin of the Week: Tron (TRX)

May 19, 2022
3.4k

Popular Story

  • bitcoin news

    Bitcoin battles back from record losses to $21,000

    1827 shares
    Share 731 Tweet 457
  • Klever showcases its blockchain ecosystem on a Time Square billboard

    2327 shares
    Share 931 Tweet 582
  • K5 adds new blockchain and KleverSafe support in the latest Android version

    1487 shares
    Share 595 Tweet 372
  • Love Monster joins forces with Klever

    2373 shares
    Share 949 Tweet 593
  • Rollout Phases of Klever Blockchain Features

    1011 shares
    Share 404 Tweet 253

Follow us on Twitter

Klever News

Join the Klever community
Growing together we are stronger.
Be sure to follow us on social media to stay up to date.

Categories

  • Announcements
  • Coin of the Week
  • Education
  • Exchange
  • Global
  • Hardware Wallet
  • Market Updates
  • NFTs
  • Opinions
  • Wallet
  • Wallet
Download Klever Wallet Download Klever Wallet Download Klever Wallet
ADVERTISEMENT

Recent News

Rollout Phases of Klever Blockchain Features

Rollout Phases of Klever Blockchain Features

June 30, 2022
South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

South African Brothers allegedly stole $3.6B worth Of Bitcoin from “Africrypt” investors

June 29, 2022
  • Marketcap
  • Sponsored Content
  • Advertise
  • Contact Us

© 2022 Klever News - Premium Crypto news & insights by Klever Finance.

  • Login
  • Sign Up
No Result
View All Result
  • Home
  • Global
  • Exchange
  • Wallet
  • Education
  • NFTs
  • Announcements
  • Opinions
  • Marketcap

Welcome Back!

OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

OR

Fill the forms below to register

*By registering into our website, you agree to the Terms & Conditions and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

Clear Clear All
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00