TRON Pronounces Strategic Partnership With Reef Finance to Bolster Its DeFi Push

| Aaron Watts

Key highlights:

  • TRON and Reef Finance have entered a strategic partnership
  • Reef Finance is a liquidity aggregator and yield engine constructed on Polkadot
  • Reef Finance will present entry to the TRON DeFi ecosystem by means of its platform

TRON companions with DeFi challenge Reef Finance

TRON has teamed up with DeFi challenge Reef Finance with the aim of increasing Reef’s options to the TRON blockchain. 

TRON has been making a push into DeFi and is positioning itself as a substitute for Ethereum, the place excessive demand has resulted in costly transaction charges, successfully pricing out customers who’re transacting with smaller quantities. With its delegated proof-of-stake consensus mannequin, the price of interacting with DeFi protocols on TRON is far decrease. 

JUST and JustSwap are some examples of the DeFi apps which were launched on the TRON blockchain. TRON can also be gaining traction as a platform for the USDT stablecoin, and now additionally options wrapped Bitcoin, Litecoin and Ethereum. 

Reef Finance is a decentralized finance protocol constructed on Polkadot that aggregates liquidity from each centralized exchanges and decentralized exchanges and likewise options the Reef Yield Engine, which routinely seems to be for the perfect yields that may be earned by means of totally different DeFi protocols. By offering an automatic service powered by synthetic intelligence, Reef Finance lowers the barrier to entry within the more and more advanced world of DeFi. Reef Finance is powered by REEF, a governance token that’s additionally used for paying protocol charges and different features within the Reef Finance ecosystem. 

By way of the collaboration, Reef Finance will make TRON-based DeFi apps accessible by means of its personal platform, offering a user-friendly manner of interacting with TRON’s DeFi ecosystem.

TRON founder and BitTorrent Justin Solar stated that the current controversy with GameStop inventory and on-line brokers has highlighted the necessity for simply accessible decentralized finance apps. As for the  strategic partnership with Reef Finance, Solar commented:

“We’re excited to increase TRON’s DeFi potential by partnering with Reef Finance to carry its sensible liquidity aggregator and AI pushed suggestions to the TRON DeFi ecosystem. I really consider that DeFi is the reply to the failings within the present monetary techniques we depend on and this partnership brings us one step nearer to decreasing the barrier to mass adoption.”

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