Reef, the native token of Reef Finance, has been listed on the Huobi Global cryptocurrency exchange.
Reef Finance is the first cross-chain DeFi operating system that aims to make decentralized finance easy for investors by aggregating liquidity from both centralized and decentralized exchanges on a single platform and serving as a gateway to DeFi through liquidity and protocol aggregation, proprietary analytics, and multi-chain accessibility.
Built on Polkadot, Reef also provides personalized investment recommendations to users through its AI- and machine learning-driven smart analytics engine.
Huobi Global is a leading cryptocurrency exchange that lists more than 340 digital assets. Apart from spot and futures trading of crypto assets, Huobi also offers other services, such as crypto-fiat buy/sell, leveraged trading, etc.
Reef allows holders to participate in the platform governance by voting on various proposals. Users can stake their Reef tokens into the Reef pool and earn Reef Pool Token (RPT) based on their proportional stake in the pool. Reef will also be used in the yield distribution pay-out ratio for the different DeFi investment baskets available on Reef’s platform.
Huobi stated that users will be able to deposit Reef into their wallets from 11:00 (UTC+8) on Jan. 22, and trading will begin on Jan. 22 at 16:00 (UTC+8). Huobi will support REEF/BTC, REEF/USDT and REEF/ETH trading pairs. Reef withdrawal services from Huobi will begin on Jan. 23 at 11:00 (UTC+8).
To celebrate the listing, Huobi will conduct a variety of campaigns including AMAs, a 2.7-million Reef rewards deposit promotion, and a 2.7-million Reef rewards trading competition on the platform for Reef token holders. Those who stake Polkadot’s DOT, Reef and Huobi Token can mine up to 13.7 million in shared Reef rewards.
Reef was already listed on Binance in late December, making Reef Finance the first project from the Polkadot ecosystem to be listed on Binance. Recently, Reef has announced partnerships with various players of the DeFi economy, such as Plasm, Avalanche and bZx, to offer users a range of DeFi investment opportunities from a single platform.