Reef Finance, a DeFi ecosystem powered by Polkadot, has launched a brand new funding product aimed toward serving to passive traders acquire entry
Reef Finance, a DeFi ecosystem powered by Polkadot, has launched a brand new funding product aimed toward serving to passive traders acquire entry to a broader portfolio of cryptocurrencies.
Reef Baskets V1 is described as an “Ethereum-based framework for deploying collections of DeFi tokens” and different crypto property. It operates in an identical method to exchange-traded funds, or ETFs, that are standard amongst conventional traders and institutional managers.
Buyers who use Reef Baskets have the chance to put money into a number of DeFi token baskets on the identical time. Reef Finance describes its Baskets as a “quantitative method to yield farming” that reduces an investor’s decision-making house to simply two elements: how a lot cash they’re keen to speculate and the way a lot danger they’re keen to imagine.
The preliminary model of Reef Baskets is obtainable on Ethereum, with a forthcoming launch scheduled for the Polkadot-based Reef Chain.
CEO Denko Mancheski believes Reef Baskets offers a viable possibility for traders who don’t have time to sift via the a whole bunch of recent DeFi tasks hitting the market. He defined:
“Reef Baskets are the perfect software for the passive investor who could not want to spend time researching and curating his personal portfolio of tokens […] Selecting the winner is objectively onerous in DeFi, and Reef Baskets mixed with the Good Engine simplifies the funding course of.”
Decentralized finance stays one of many hottest verticals throughout the blockchain business. There are presently 274 cryptocurrencies listed within the DeFi class of CoinMarketCap, a determine that’s more likely to broaden considerably this yr as extra tasks come on-line. The market cap of current DeFi tasks is listed at simply over $98 billion.
Reef Finance made headlines final month after it obtained $20 million in strategic investments from Alameda Analysis. The acquisition gave Alameda an estimated 528 million REEF tokens.