REEF Finance prices jumped 25%, a sign?

The price of Reef Finance has jumped by 25%, and I want to share a little knowledge about Reef Finance and try to explain some of the factors that make the price of Reef Finance soar, but before that I discuss about Reef Finance first.

1. What is the historical price of Reef finance? 2. Who are the founders and what is their vision for this project? 3. What are Reef's strengths and weaknesses?

The historical price of Reef Finance

So why is Reef Finance so popular? Let's start with the history of Reef Finance prices

As of last 14th, Reef Finance's price was in the range of $ 0.052734

Once in a private sale held in September 2020, Reef Finance managed to raise $3.9 million with its first prices at $0.0009 and $0.00125 per Reef token.

Then Reef tokens then began to be bought and sold in December 2020 at a price of $ 0.03284719 per token, this provided some nice benefits for those who had a share of private sales, as for the circulating supply of 11 billion Reef coins and a total supply of 15.9 billion,

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"So why are we witnessing such an aggressive price increase?"

This is related to an announcement on Friday, March 12, Reef announced that Alameda Research has become a stakeholder, or a party with an interest in their DeFi Cross change platform.

Alameda Research founded in 2017 is one of the leading research and trading companies in the cryptocurrency industry.

Alameda Research company has announced it is investing 20 million dollars into the DeFi Cross change Reef Finance operating system, *So we can easily find out that this injection of capital funds is the main reason responsible for the increase in price, it's because

they buy a lot of coins in circulation creating a lot of pressure for people to buy as well as more pressure to sell and as usual if there are more buyers than sellers of course the price will go up.

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Vision of Reef Finance

Now let's talk about their vision. Reef Finance was founded in 2019 by its CEO and Co-Founder, *Denko Mancheski, the goal of Reef Finance can be described in one word of "simplicity", Mancheski believes that even though there have been many useful innovations in the world. Crypto adoption at that time was still unattainable due to a lack of simplicity, this frustrated users as they had to interact with a number of different applications, if they were to take advantage of all that DeFi has to offer.

Such a simple interface allows users to interact with all the DeFi apps of their choice in one place and this would certainly be a very good solution, so that's exactly why Reef finance was created.

Mancheski believes that there can be many psychological barriers associated with DeFi, and that is true. How many of us are already feeling overwhelmed by going through the world of decentral finance Defi or the world of the crypto community, it can be very complicated, so the goal of Reef is for something. simplicity, it's a noble goal. So how will Reef achieve this?

Basically they will make DeFi's decentral finance much more accessible, with the ability to diversify portfolios in just one click, they serve as a one-stop shop for DeFi projects that users can access without having to switch between different applications from one to another,

In their interface the users can access different exchanges markets and through the help of smart contracts, Reef combines the liquidity or disbursement of funds from these different markets.

Trading can also be done easily on their platform, the idea is a good idea because in the end the crypto community wants two things, one simplicity the second global mass adoption.

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Strengths and Weaknesses

let's now find out the strengths and weaknesses Reef let's start with the potential strengths,

Simplicity, the idea that it will be easy to use.
**Partnerships, the project has secured cooperation with several top groups including Matic, Kava, Covalent, bluzelle, and also Chainlink*.
*On Ramps, Reef integration with Binance API access will allow our Fiat currency line to be used with cryptocurrency purchases, along with decentral trading opportunities on their platform.
Tokenization of physically backed assets, In January 2021 Reef secured a new partnership with open DeFi a platform that allows tokenization of physically insured and supported real-world assets held by custodians, now these users can stake to receive instant loans of their assets and enjoy the opportunity to produce a harvest.
*Low Gas costs, launching Reef in its Polkadot ecosystem will benefit users in terms of fees and transaction speed because when the Ethereum network results in often the transaction costs skyrocket and the processing time is quite long.

There are more potential strengths that I find related to this Reef, but because I don't want this post to be too long, so I just provide an outline that I think is interesting and important.

Then for the potential weaknesses of this project, even though achieving simplicity is a good goal theory, of course it is still ambitious and hard to achieve, because if it's not difficult it must have been done by other developers, because other developers also really want it, namely mass adoption.

Obviously, if you want to deal with finances, sending money back and forth across borders across that language adds another level of complexity, these are still its early days as the Reef project has just launched in 2020 so Yes it's worth waiting for,

And it will take our time to see if the reefs achieve their goals through the newly formed partnership, but I personally will still monitor how they will develop, because if this project is successful, of course this will be a huge advantage.

Tell me what you think in the comments, This is the platform that will take over DeFi, I look forward to chatting with you further and thank you.

Read more about cryptocurrencies and blockchain here @khezcute

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