Reef Finance launches $20M Grant Fund to Expand Reef Chain Development

Reef Finance are on track to expand the development of Reef Chain by launching a $20M Grant Fund to support developers in the course of expansion of the Reef Chain.

Building the Reef ecosystem requires top talents onboard and these talented developers must as well be equiped to build DeFi applications future on Reef.

Reef aims at deploying real-world use-cases in the Reef ecosystem and therefore outlined six suggested categories with which the $20M Grant Fund will be channeled to.

Below are the six categories Reef are looking at in relation to these projects:

1 .Wallets and Interfaces

2. DeFi Lending protocols and Bridges

With the ongoing building of lending protocol by Lendefi, lending and leveraged trading are now facilitated in trustless environment.
Lendefi's protocol on Reef Chain gives room for easy introduction of a credit pool which is linked to Reef Chain.

Reef intend to use the $20M Grant Fund to welcome other lending protocols to aid a more closer step to providing smart financial services to the Reef community.

3. Runtime Modules and Chains

4 .NFT Development

5 .DEXs

6. Development and Deployment Tools

These project will take responsibility on hosting, syncing, and maintaining nodes for smart contract by creating private chains and non-custodial validators.

Reef Long-term Goal

You can apply for Reef Finance Grant here;

About Reef Finance

Reef is the first Cross-Chain DeFi operating system built on polkadot. With a seamless user interface, Reef offers its users a smart liquidity aggregator and yield engine that enables trading with access to liquidity from both CEXes and DEXes while offering smart lending, borrowing, staking, mining through an AI-driven personalized Reef Yield Engine.

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