To grow its ecosystem, Reef Finance is soon going to integrate Relite Finance into its network. The official announcement in this regard has just been made by Reef Finance. The primary benefit of this integration will manifest in terms of wider access to facilities that users of Reef Finance will have in the future. Some of the prominent services offered include the staking, borrowing, and lending process across various blockchain networks.
Relite is actively engaged in building a protocol that offers various services in a very cost-effective manner. It aims to reward the users who patronize a platform for the long term, and this effect is sure to come in handy to ensure the sustainability of its ecosystem. By associating with Reef Finance, users of Relite will be able to access liquidity from across different blockchain networks. It will also help them borrow the money without the need for heavy collateral that is otherwise a standard practice for availing the facility of borrowing in the decentralized space. What’s more, the collaboration will give users options to select from – table yields or fluctuating yields.
An Ethereum to Reef bridge will be added by the Relite, which will offer the added convenience of swapping tokens on the platform of Reef. In addition, a dedicated pool for holders of Reef will also be made available by the Relite.
The association is significant as it aims to provide a wide variety of services and liquidity access to prospective users. This will help the decentralized finance segment grow at an enviable pace while enhancing the reach of the cryptocurrency and blockchain among a wider set of participants. It will be interesting to witness how this association will ultimately pan out in the future. Specifically, the reaction of users of the Reef platform will be of importance as they are expected to benefit a lot from this new union.