Coral Reef Finance, a newly launched DeFi blockchain Today, Lenddefi is built using Substrate Framework, which is one of the first loan projects established on Reef Chain. The “Lenddefi Agreement” facilitates leveraged transactions and secured loans in a trustless environment.
The integration of Lendefi and Reef Chain will introduce credit lines directly related to Reef Chain. In addition, a bridge will be created to facilitate the conversion of ERC-20 and BEP-20 tokens to REEF-20. Lendefi turns the decisions related to its protocol into an interoperable DAO.
Lendefi allows traders to use owed mortgage loans for leveraged transactions, while providing mortgage and interest payments to lenders hourly. Provide security for lenders through an agreement that will initiate a liquidation event before the assets of the loan pool are eroded.
“Reef will provide the truly decentralized functionality required by the Lendefi protocol to implement our DAO vision. The unification of the vision lays the foundation for the symbiotic relationship between our technologies.”
– Scott Schulz, CEO of Lendefi
Lundifei Reef Chain
The Lendefi Agreement facilitates leveraged trading of digital assets and secured loans. Borrowers will be able to decide what leverage factor they wish to obtain and can choose from many approved tokens. The protocol was originally designed for Binance Smart Chain, has been decentralized, and has brought advantages to both lenders and borrowers.
Through close cooperation and further development of Lenddefi’s technology for coral reef ecosystems; opportunities will be created for digital asset lenders to generate returns from interest rates. Borrowers will be able to access leveraged trading positions through Lendefi’s lending pool.
The Coral Reef Chain is based on a substrate framework that can ensure high throughput, security and low transaction costs, as well as a high level of compliance protection. The Substrate framework is highly scalable, future-oriented, and can support many DApps at the same time. It is also natively compatible with Polkadot, making it easy to protect your blockchain and communicate with the Polkadot network.
“Lendefi’s innovative agreement is the first of its kind to provide under-collateralized loans for digital assets. The growth potential of this market is huge, and we are very happy that Lendefi is on the reef chain.”
–Denko Mancheski, CEO of Reef Corporation