Reef Finance Opens Liquidity Bridge by Klever in New Decentralization Step

July 28, 2021 – San Francisco, California

Reef Finance has transitioned into Reef Chain mainnet, its flagship Substrate-based network, opening its doors for smart contract developers across blockchain to build high-performance DeFi protocols on top of the chain.

To complement the launch, Reef entered a strategic partnership with Klever that brings over three million users to the Reef ecosystem, among additional value for the community.

Along with a well established product and industry reputation, Klever now also carries the title of Reef Finance’s first external validator. The partnership with Klever also enables the only liquidity bridge for Reef (ETH) and Reef (BSC) holders to exchange their Reef tokens to Reef Chain mainnet by seamlessly using Klever Swap. Additionally, once Reef holders have converted their Reef mainnet tokens through Klever Swap, Klever brings the ability to stake Reef tokens through their wallet.

The mainnet launch comes after completing a successful audit by Halborn, a leading blockchain security firm, which was the last necessary step before launching the network. This matches the ethos of Klever’s true and secure cryptocurrency ownership. Reef Chain enters the mainnet stage with over 200 smart contracts deployed on its testnet, with more expected to come – thanks to the Reef developer support program, which offers financial and technical expertise to teams wishing to deploy on Reef Chain.

Denko Mancheski, founder of Reef Finance, said,

“It’s time that Reef opened the floodgates for DeFi. Our focus is enabling a new age of crosschain DeFi, where users from other blockchains can use Reef Chain for all their DeFi needs without hassle. This partnership with Klever is a massive step forwards in terms of decentralization, and we are deeply impressed by the professionalism and success of their team. It’s with great pleasure that we announce our new liquidity bridge and staking capabilities with Klever.”

Dio Ianakiara, CEO and co-founder of Klever, commented on the strategic partnership,

“Klever is all about making it easy to manage and grow your crypto while supporting ambitious projects with the same mindset. Therefore, we are proud to enter this strategic partnership with Reef Finance to provide the only liquidity bridge to Reef mainnet seamlessly through Klever Swap and enable Reef mainnet staking in Klever. We are also excited to become the first external validator on Reef mainnet, bringing vast experience of node operations, as Klever today maintains close to 100 different nodes on dozens of major blockchains, and being part of advancing decentralization throughout the crypto industry.”

Klever app offers over 300 trading pairs with over 50% of all KLV tokens currently frozen and staked by Klever users. With Reef and Klever, users do not need to go anywhere else to earn the highest and safest yield on their crypto assets.

About Reef Finance

Reef Finance is building Reef Chain, a DeFi blockchain built using Substrate framework. Reef Chain provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.

About Klever (KLV)

Klever is a crypto wallet ecosystem serving over three million users worldwide via its Klever app, Klever OS, Klever Swap, Klever Exchange and other emerging products and services. Klever App is a simple, fast, smart and secure crypto wallet, serving as the epicenter of the Klever network. The Klever ecosystem supports the world’s major blockchains – such as BTC, ETH, TRX, BNB, XRP, LTC and many others – for storing, sending, receiving, charging and swapping cryptocurrencies. The Klever team, consisting of over 90 developers and 120 total staff, is building several platforms under their in-house development entity, Klever Labs, including Klever Browser, Klever Bank, Klever Hardware Wallet and Klever Blockchain, which will function as the foundation of the entire ecosystem. Download Klever app at klever.io.