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

Reef see this as the most important point out of the six.
Wallets and Interfaces are very important. Reef are intending to create user-friendly wallets with simple interface that will make it convenient for users to access Dapps.
The $20M Grant Fund will be of massive usage on this category.

2. DeFi Lending protocols and Bridges

As one of the fastest growing facet, DeFi loans is about to get the needed support from Reef. Lendefi is an example of DeFi loan protocol and also the first lending protocol on Reef Chain.

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

Helping developers in creating frameworks for custom blockchain is another motion Reef is aiming at.
Channeling some percentage of the Grant Fund into the development of Runtime Modules and Chains in the Reef ecosystem will help to facilitate this project.

4 .NFT Development

NFT markets are growing and Reef is aiming at supporting projects that will be bringing NFT market to Reef ecosystem.
Example of project on this track with Reef are DEIP Network and Realm.

5 .DEXs

Reef is ready to support more DEXs on the Reef Chain. Kwikswap is the first DEX on Reef Chain and Reef is looking forward to supporting more DEX development on Reef Chain.

6. Development and Deployment Tools

In order to maintain a top notch service, Reef is looking for deployment and development companies that will offer a scalable, secure, reliable and compatible blockchain infrastructure.
Reef is ready to fund these companies to provide smart contracts developments.

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

Reef Finance is creating an ecosystem of funding that will see projects built on its chain scale exponentially. The goal of this funding program is to provide support to companies and developers through their development cycle so they can build successful projects. The $20M Grant Fund supports budding projects and offers new partnerships through Reef Finance. We are going to work with the development community to make a positive impact on the blockchain, the DeFi movement, and decentralization.

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.