Reef in Klever & Power of DeFi
The partnership between Reef Finance and Klever opens the door to the cross-chain DeFi platform Reef to 3 million Klever users worldwide, as the power of DeFi keeps growing in crypto.
Reef Finance, which was first to build a cross-chain DeFi operating system on top of the Polkadot Substrate protocol, has recently partnered with Klever. With this partnership, Klever users can benefit from the Reef Defi ecosystem that was released in the Klever app in the second week of July 2021.
The Reef Ecosystem comprises of multiple DeFi features, and has emerged as a major frontrunner by building the first cross-chain DeFi operating system that allow users to trade by offering access to liquidity from both centralized exchanges (CEXs) and decentralized exchanges (DEXs).
Reef brings AI-driven personalized Reef Yield Engine that facilitates the DApps to offer smart lending, borrowing, staking, and mining. It also shares the mission of enabling low-cost opportunities to earn interest, provide liquidity, play games, and much more.
Reef provides DeFi exposure with interoperability across multiple blockchain ecosystems. Reef integrates with DeFi from Ethereum, Polkadot, Avalanche, Cosmos and Binance Smart Chain.
Over 3 million KLV users will benefit from the liquidity bridge to Reef Mainnet through Klever Swap and enable Reef Mainnet staking, or bonding as it is called on Reef Chain.
Power of Defi
Decentralized Finance, popularly known as DeFi, is emerging as the new world order for the future financial system globally.
DeFi is likely going to replace the traditional financial systems by cutting out the middlemen, and DeFi protocols are today being used across the crypto space for lending, borrowing, collateral, trading, liquidity pools, staking and much more.
The idea is to follow a trustless design using blockchain technology, which makes any transaction on the blockchain anonymous, private and immutable. Transactions on DeFi platform are verified and authenticated automatically, often through the use of smart contracts. In the current financial system, one requires an intermediary to verify the transaction.
By using decentralized ledger technology, DeFi tends to make transactions more efficient and more secure, which means they are not subject to tampering or human error. According to coinmarketcap.com, over $90 billion USD of value is locked in DeFi projects.
There are a variety of use cases for DeFi, including banking, cross-border transactions and payments, trading markets, and the ability to stake your investment directly on the blockchain. Staking is a new way of investing, which brings good returns. One can earn 5%-8% APY or higher in passive income by staking their holding on blockchain platforms.
Klever also serves the purpose of DeFi by enabling access to ETH and TRX-based dapps in its Klever Browser, p2p trading, Klever Swap as well as through its KLV staking operations. Klever Staking allows users to earn a passive income at 10%, with over 50% of all KLV in circulation currently frozen and staked by its users.
Klever also has a secured crypto wallet ecosystem serving more than 150,000 daily active users and over 3 million users worldwide with Klever App, Klever Swap, Klever Exchange and Klever OS. Klever App is a simple, powerful, and secure self-custody crypto wallet, supporting the world’s major blockchains, offering 300+ trading pairs in Klever Swap and access to ETH and TRX-based dapps in Klever Browser, thereby contributing to the decentralized world of financial services.