Reef Explained And My Concerns With This Crypto 👀

#shorts #reef #reeffinance #reefcrypto #reefcoin #defi #decentralizedfinance #dapps #polkadot #dot #polkadotblockchain #ethereum #eth #ethereumblockchain #cex #dex #crypto #trading

In this video, I’m going to respond to a question about Reef Finance.
I hadn’t initially done a lot of research on my own, but now I have done at least a little bit and what I found might be concerning. One, what is Reef? Reef focuses on interoperability between defi decentralized finance applications. Quote. The reef finance project is attempting to create a platform that combines all of the various defi applications in one place,
easing user access into the defi ecosystem. With reef finance, it becomes possible to buy, trade, stake, loan and borrow a variety of assets in one platform. Where does it operate? Reef operates on the polkadot network as opposed to ethereum as a way to benefit the user base in terms of speed and transaction costs. The third point is liquidity. Quote. Reef gets liquidity from everywhere, both CEX’s and DEX’s. That’s from reef finance quote.
This allows users to hedge against the downsides of the two different sources which include high slippage and high trading fees. Lastly, is the main concern. The supply of reef increased 500 million with no real explanation. And that’s not great in the world of supply and demand.

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