Reef Chain Announces Mainnet Launch For May, Opens Testnet

Reef Chain Announces Mainnet Launch For May, Opens Testnet

Reef Chain, an EVM-compatible blockchain built specifically to support the growing DeFi (decentralized finance) sector, has disclosed details today regarding its Mainnet launch in May.

With its imminent launch, Reef Chain is set to become the crypto industry’s first blockchain built and designed exclusively for DeFi. Reef Chain is developed and maintained by Reef Finance, a cross-chain DeFi operating system built on Polkadot’s Substrate Framework. Core to Reef Finance’s Reef Chain module is the ability to execute liquidity aggregation from multiple sources into Reef’s operating system, giving DApps versatility and power.

Due to this unique design, Reef Finance's Reef Chain enables high-throughput, low fee transactions, and secure cross-chain interoperability across multiple blockchain ecosystems, while leveraging this architecture to provide users with DeFi exposure. Reef Finance is currently integrated with a host of leading protocols in the DeFi space such as Ethereum, Polkadot, Avalanche, Cosmos, and Binance Smart Chain.

According to Reef Finance’s announcement, Reef Chain also serves as its foundation to support DApp developers who may be building the next great DeFi solution.

“We will offer a 360-degree solution to projects — from ideation to completion. Our vast ecosystem offers a range of support to projects building on Reef Chain, everything from a strong online presence, media relations, partner network, and market visibility,” stated Reef Finance.

With its Mainnet launch scheduled sometime in the coming month, Reef Finance has opened its platform to assist early-stage tech projects as well, providing technical and business-related assistance for startups who wish to build on Reef Chain.

As an EVM (Ethereum Virtual Machine) compatible chain, Reef Chain provides developers the ability to port their existing web apps and DApps from Ethereum without altering their base code written in Solidity. This feature is game-changing, one that would extend the viability of DeFi through Ethereum and beyond.

Currently, Reef Chain’s Maldives Testnet has launched and now allows developers to initiate migration scripts into its protocol, in an effort to pave the way to its Mainnet launch in May.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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