Fundamentals: Reef is a DeFi platform built on Polkadot that aims to deliver cross-chain trading. A yield engine and a smart liquidity aggregator are among the project’s offerings.
Work began on the project in the second half of 2020. Those behind Reef argue that the process of trading, lending and staking crypto is currently fragmented — creating “a painful experience for all of its participants.”
Reef aggregates liquidity and provides automation. It also aims to address the drawbacks associated with existing trading platforms. While centralized exchanges are prone to security breaches, decentralized rivals can lack liquidity and are often difficult to use.
Reef is geared towards newcomers, as well as current DeFi users who find it difficult to keep up with the best investment strategies. The company also wants to tackle the high gas fees that are seen on the Ethereum blockchain, which some claim renders DeFi protocols “unusable.”
When it comes to Reef’s unique attributes, one is linked to how any DeFi protocol can integrate into its operating system. Users can enter and exit into their chosen positions in a single click — and removes some of the hassle associated with managing liquidity pool tokens.
Because of how it has been built on Polkadot, Reef is able to support DeFi protocols on Avalanche, Moonbeam and Plasma, as well as on Ethereum and the Binance Smart Chain. As a result, Reef users have access to a broader number of platforms without requiring multiple accounts and a myriad of usernames and passwords that can be difficult to keep track of.
Reef was founded by Denko Mancheski. His motivation was to remove technical barriers to entry for retail investors who want to get involved with DeFi — and offer a straightforward decision-making process that takes a user’s appetite for risk into account.
Mancheski wanted to help crypto newcomers overcome the complexities associated with using order books, and enable them to learn how different protocols work with ease.
Born in Macedonia, Mancheski said that his passion for fintech led to him being introduced to blockchain technology. He has described forming a competent team as the biggest challenge associated with bringing Reef to life.
When asked about the personal attributes that will help him become a successful entrepreneur, he added: “I have a very addictive personality — I just can’t stop doing something until I get to the imaginary goal that I set for myself.”
Mancheski previously worked as a chief technology officer for Adel, a global crypto community that serves as a “technology incubator for blockchain innovation.” He was also appointed as CTO for Viewly, a social video platform without advertisements.
Technical Analysis: there exist a Hidden Bullish Divergence of price and MACD Lines i.e. the bullish trend will continue as it show the ReAccumulation and price move up there total of 4 targets defined by Fibonacci Projection where as we may have ample of Retracement in between on TP we may have Distributions and Price Corrections. 3 TP gest it confirmation as the price Triggers the 2 TP followed by some price correction and Distribution.
Good job on your analysis ! I'm afraid there's a postponement towards new highs and not because of BTC this time around, but because of some misunderstanding between Reef, Alameda and FTX.
Let's see how it develops next days.
BitonGroup
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@infiltrat0r, thank you very much for the data and Compliments,
generally we don't open positions based on the news,
we opened this position as REEF has good and strong fundamentals, and we saw it as a very undervalued ASSET which has got good chance of growth in the coming few years.
this publication is a swing Position and we shall keep investing on it as it develops and more demand showing by MARKET
yozr23361
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great work, thanks
BitonGroup
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@ali_1763, thank you dear
yozr23361
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@BitonGroup what wonderful targets has reef, amazing. for now is very cheap to buy and best oppurtiunity
BitonGroup
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@ali_1673, yes now it is really at a very good price to be purchased and held
DumitruTheMasterChart
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I like this the most, the way you put the details and the order is absolute
fantastic
BitonGroup
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@triscauc, oh such a nice compliments dear,
i am so happy and honored you liked the details and noticed the intricacies.
please check other ideas and do let me know who you think about them too.
thanks for the nice words...
DumitruTheMasterChart
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@BitonGroup, Do you have telegram ? @Dumitriscau that`s my name on Telegram we can discuss the ideas there
BitonGroup
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@triscauc, well we do not use any Social Media or Telegram as we are mostly publishing in TV and Communicate in the Message Section, yet i will give you my WhatsApp Number in case you want to have some Voice Call
Let's see how it develops next days.