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April 2025 Monthly Recap

April 2025 was a month of strategic expansion, significant partnerships, and continued innovation for Reef, including a $1 million fundraise, over 1.4 billion REEF token swaps, and new developments across our ecosystem.

Key Highlights

  • Q1 Update published, showing significant movement with key items in the 2025 Roadmap.

  • Successfully completed a 490 million REEF token swap with Paribu, followed by another 1 billion REEF exchange later in the month.

  • Secured at least $1 million in new funding from Pinnacle Ventures, with funds already being received.

  • Established connections with several new partners, including a marketing/KOL agency, two fiat on-ramp providers, one AI agency, and a team offering market-making and advisory services.

  • Made significant progress in expanding the Reef ecosystem, with several new builds of the Reef Chain Wallet for Android and iOS nearing completion and submission.

  • Continued efforts to notify legacy REEF holders about the bridge to Reef Chain, and ongoing discussions with centralized exchanges about switching to supporting Reef Chain.

  • Progressed in registering two new entities, including one for a new investment fund.

  • Initiated development work on DAO coordination platform and new incentive program.

  • Published videos of Reef’s panel and solo talk at Web3 Amsterdam.

Detailed Summary

Token Swaps and Fundraising

  • Completed a 490 million REEF token swap with Paribu in early April, with an additional 1 billion REEF exchanged later in the month.

  • Initiated discussions with centralized exchanges to support Reef Chain.

  • Secured $1 million in funding from Pinnacle Ventures, with initial funds received.

  • Engaged in fundraising discussions with multiple VCs for the core team.


Strategic Partnerships and Meetings

  • Engaged with a team offering market-making and advisory services.

  • Met with a DePIN/nature project exploring blockchain options, advocating for Reef deployment.

  • Connected with a marketing/KOL agency, two fiat on-ramp providers, and one AI agency.

  • Reconnected with old partners and built new relationships with companies introducing projects to Reef Chain.


Development Updates

  • Released multiple builds of Reef Chain Wallet for Android, with the latest Android build declared bug-free.

  • Began submission process for Reef Chain Wallet on iOS.

  • Received approximately 10.5 million REEF-BSC from MEXC.

  • Continued work on a DAO coordination platform and a new incentive program.

  • Initiated development for Reef’s integration with Ledger hardware wallet.


Media and Public Relations

Play Video

  • Published video of the Reef panel at Web3 Amsterdam.

  • Released the solo talk video from Web3 Amsterdam.

  • Continued identifying ways to notify legacy REEF holders about the bridge to Reef Chain.


Legal and Organizational Structure

  • Progressed in registering two new entities, including one dedicated to the new investment fund.

  • Advanced discussions regarding the registration and funding of the labs entity.


Upcoming Plans

  • Preparing for speaking engagement at a European crypto conference in June.

  • Finalizing partnerships with fiat on-ramp providers.

  • Booking meetings with several projects looking to expand to new chains.

  • Continuing work on DAO coordination platform and Ledger hardware wallet integration.