Reef 2024 Recap

Back in February 2024, we talked about how this year was going to be a year for launching. Reef’s core contributors did just that, making good on several important milestones and promises. While we still have work to do to complete the 2024 plan, we are ending the year in a much better position than we did in 2023. ReefSwap and Reef Chain Wallet for Android were launched on mainnet, and several more dapps were launched on testnet. We doubled the size of the development team, and kept unnecessary spending to $0. 

Let’s get into more of the details.

Reef Chain Wallet for Android was launched about six months ago. It has reached thousands of Reef chain users, and underwent several iterations since lunch. It will continue to be developed in 2025, making the user on boarding experience easier, more secure, and enabling app discovery, with the iOS launch also coming up. 

Milestone: Completed on Android, in progress on iOS/iPadOS/macOS ䷢

ReefSwap was launched around the same time as Reef Chain Wallet! Thousands of people have used it, and several new tokens launched this year natively on Reef chain. We are looking forward to working closely with those outside teams to build their communities, get their products out on Reef magnet, and continue to build in 2025. Reef swap is better than it’s ever been right now, and will continue to see useability and performance enhancements.

Milestone: Completed ✅

This is an area where there was a lot of activity, but not much in the way of visible results at the end of the day. The NFT market has been down throughout the year, and yet competition is fierce. The good news is that several bugs were fixed this year, especially around search and free send/transfer claims. We have new features in development now that will make Sqwid a more compelling platform, and will launch those beginning in Q1 2025.

Milestone: In progress, 50% complete ䷢

A testnet version of a launchpad/IDO platform was released in December 2024. Reef’s testnet is currently undergoing some maintenance as I write this, so testing will begin in January 2025. Once it’s ready for launch, we will get the marketing engines going!

Milestone: In progress, 75% complete ䷢

Back in September, we secured a relationship with VIA Labs to build a cross chain bridge, and also to easily bring bridge to USDC to Reef Chain. VIA Labs has been wonderful to work with, and we’re looking forward to the bridge launch in Q1 2025. 

Launching the bridge to bring REEF tokens permanently to Reef chain, and deprecating support for REEF tokens on Ethereum and BSC smart chain, is step one two creating a variety of incentives and campaigns to encourage bridging, and bring millions of dollars in economic activity to Reef chain.

Milestone: In progress, 90% complete ䷢

This is one item that we really didn’t get a chance to spend any time on in 2024. We did, however, get WalletConnect working with Reef Chain, and deployed it across Reef’s wallet dapp, ReefSwap, and Reef Chain Wallet. It will also come to Sqwid, Orcanize, and other dapps in 2025. Let’s face it, Reef’s existing browser extension does not provide the smoothest experience. While it’s a fork of Polkadotjs, which has proven to be very secure and trustworthy over the past few years, “easy to understand” is not a label anyone would apply to it.

Milestone: Incomplete

While Mosaic didn’t launch in 2024, we are still ok our way to having multiple stablecoins on Reef in the near future. Bridged USDC is coming thanks to our partnership with VIA Labs, and we’re confident Mosaic Protocol will launch in 2025. So with USDC and MoUSD coming, along with the potential for more through either Reef’s bridge or AnyToAny.io, we know there will be a thriving marketplace for stablecoins on Reef next year.

Milestone: Incomplete

Reef recently secured a long-term partnership with Mr.Dapps to ensure their RNS service becomes part of the core Reef user experience. In addition to the retroactive grant, the roadmap for Mr.Dapps’ RNS is for it to become embedded much deeper into Reef’s ecosystem, which will help drastically improve everyone’s experience when using Reef Chain Wallet, Reef’s browser extension, any most dapps. More on this in our 2025 roadmap.

Milestone: Completed ✅

Orcanize is the first but if DAO tooling and infrastructure coming to Reef Chain. The team recently came out of stealth with its first blog post, and should launch early in 2025. The dApp is already running on Reef’s testnet, and should be available for public testing soon, according to the project. 

Milestone: In progress, 85% complete ䷢

This simply wasn’t necessary to spend time on in 2024, so we didnt. We are continuing to monitor the ZK space, and will engage with projects as needed when we find the need for it.

Milestone: Not started

Due to shifting resources, the Reef Dev Arcade and new developer resources didn’t launch. However, we have several people now who can spend time improving our developer documentation after some of the items above are finished. We also have the results of Reef Season of Docs, which are usable and can be published. We will try and make that happen within the next few weeks. 

Milestone: In progress, 70% complete ䷢

That was the Reef Chain roadmap for 2024. While we didn’t complete all of it, we’re well on our way to doing so! The roadmap for 2025 is a bit more aggressive, and that will be published in January 2025.

One item that wasn't even contemplated at the beginning of 2024, but lead to much of the growth we had through the last 5 months, was the Community Developer Fund. Launching that in August, in partnership with our amazing community, has made a huge difference! We can't thank you all enough for nominating the CDF validator, helping us generate these rewards that are being used to grow the ecosystem.

We also began monthly REEF burns, buying REEF on BNB Smart Chain and burning them each month to help reduce the supply there. In addition to that, we have been publishing much more regular updates to our Telegram, Discord, X, Reddit and even Facebook properties to keep the community informed of what's happening behind the scenes.

Thanks to everyone who has supported us emotionally, by contributing their efforts, nominating the Reef Community Developer Fund validator to help us generate more financial resources that are being put to use growing Reef Chain’s ecosystem, and all the other ways you’ve helped us in 2024. 💜💜💜

Reef is the EVM-first blockchain that will make Web3 accessible and easy to use. Reef offers high scalability and affordable transactions and utilizes Nominated Proof of Stake, extensible EVM, and on-chain upgradability.

Reef is the future blockchain for NFTs, DeFi, and gaming. It can easily accommodate the needs of the future of Web3 development. Reef is an ideal blend of old and new, a trait that makes it eternal and timeless.

Stay tuned to our socials, and never miss any updates from Reef!

🌎 Website | Twitter | Discord | Telegram | Instagram | Reddit