Satoshi Nakamoto

Satoshi Nakamoto is a title used to identify the person or people who developed Bitcoin. Satoshi allegedly wrote the white paper of the apex digital asset before creating and deploying BTC.

Substrate

Substrate is the framework on which Reef Chain has been developed. Substrate is a modular framework focused on the interoperability of blockchains, enabling developers to create customized blockchain networks by composing custom or pre-built components. Polkadot and most of the blockchains in the Polkadot ecosystem have also been developed on Substrate.

EVM extension

Reef Chain extends the usability of the Ethereum Virtual Machine (EVM) through a host of features, such as native token bridge, scheduled calls (i.e., recurring payments), and smart contract in-place code upgrades.

Upgradeability

Reef Chain has been designed to be self-upgradable by default. New features, security updates, and performance optimizations are instantly installed on Reef Chain through scheduled updates, without the need for any complicated blockchain forks.

Scalability

Reef Chain has a much higher transaction throughput as compared to legacy Ethereum and is more efficient with blockchain storage. The increased scalability ensures that the user experience is not hindered even when network traffic is excessively high.

Solidity Support

Reef Chain supports Solidity, an object-oriented programming language for writing smart contracts on various blockchain platforms, most notably Ethereum. DApp developers are able to port existing DeFi applications from legacy Ethereum to Reef Chain without modifying the base code written in Solidity. This will let DeFi investors enjoy their favorite applications with a much superior user experience.

Nominators

Nominators on Reef Chain are responsible for voting for and electing competent Validators (block producers). Nominators are rewarded with part of the revenue share generated by the Validators. However, if a Validator misbehaves in a fraudulent manner, Nominators can lose their bonded stake.

Validators

Validators on Reef Chain are responsible for reliable block production. The Validators are elected by Nominators and require strong technical skills and quick problem-solving ability as the baseline. The Validators may also provide additional services to the community, such as:


- Host Reef Chain boot nodes


- Host fast sync block export/import infrastructure


- Develop and maintain DevOps tooling


- Develop and maintain security tooling


- Develop and maintain block explorers, RPC nodes, SQL indexers and other public infrastructure

Governance

Reef Chain has been built with upgradability and long-term sustainable governance in mind. The governance responsibility is split into two groups:


- Technical Council, which is elected via Proof of Commitment and is responsible for reviewing and approving blockchain updates.


- Validators, which are elected via Nominated Proof of Stake and are responsible for reliable block production.

What is Nominated Proof of Stake?

Nominated Proof of Stake (NPoS) is the consensus algorithm used in Substrate-based blockchains, such as Reef Chain, Polkadot, Kusama, and Edgeware. The main actors involved in NPoS are Validators and Nominators. NPoS ensures:


- Decentralization and fair representation through ‘proportional justified representation’, which assigns slots to validators proportional to their nominations.


- High security through ‘maximin support’, which distributes the nominated stake such that every validator in the active set has roughly the same amount of stake backing it.

Technical Analysis

Technical analysis is the study of past statistical trends in trading activity and uses this information to predict future price movements. In liquid markets, technical analysis will prove to be more accurate than analyzing trends in illiquid markets. Since a large amount of information needs to be collected in the liquid market, the prediction of future price trends will inevitably be more accurate than the prediction in the non-liquid market.

Transaction Time

In high liquidity markets, transactions are completed much faster as compared to markets with low liquidity because of the large number of market participants. Trading in liquid markets is also beneficial for short-term traders as they are able to enter and exit a trade quickly and easily.

Market Stability

A highly liquid market will ensure the stability of the market. This means that the market will not be affected by large fluctuations due to large transactions. In an illiquid market with little activity, big players can seriously affect asset prices. However, the presence of a large number of traders in the liquid market helps to keep prices stable and protected from large fluctuations. Trading in the liquid market is also good for short-term traders because they can enter and exit transactions quickly.

Fair Prices

Foreign exchange liquidity fair prices are important in a liquid exchange as they facilitate fair prices amongst the community in the market, which hosts a larger number of traders. High commercial activity forces sellers to sell their assets at competitive prices, and buyers in turn will bid higher prices. In this way, an equilibrium market price that is fair to both buyers and sellers is formed.

Market Liquidity

In the field of business, economics, or investment, market liquidity is a characteristic of the market whereby people or companies can buy or sell assets quickly without causing drastic changes in asset prices. Liquidity involves the trade-off between the asset's selling price and the selling speed. In a liquid market, the trade-off is soft: people can sell quickly without having to accept a significantly lower price. In a relatively illiquid market, assets must be discounted to sell quickly.

Smart Asset Management

The Reef platform includes a set of powerful portfolio management features. These help users seamlessly rebalance their portfolios by adjusting their allocations of assets between the baskets of DeFi products and exposures. Reef’s AI engine also provides personalized intelligent recommendations to the users, offering them information and suggestions about top investment opportunities.

Smart Yield Farming Aggregator

Reef’s Smart Yield Farming Aggregator is an aggregator that scraps the DeFi landscape for the most profitable yield and DeFi investment opportunities, providing easy access to users at an extremely low barrier of entry. The aggregator is powered by Artificial Intelligence and Machine Learning algorithms.

Global Liquidity Aggregator

Reef aggregates liquidity from centralized and decentralized sources, including exchanges, liquidity pools, and DeFi protocols, onto a single platform. Reef is a fully distributed and autonomous protocol, compatible with the widest range of DeFi protocols, which maximizes the ease of integration and compatibility with service providers in the DeFi space.

Liquidity Bridge

Reef Liquidity Bridge will allow users to wrap existing ERC-20 tokens to REEF-20 tokens, and transfer liquidity from Ethereum to Reef Chain (link). This enables users to access the advanced features Reef Chain provides, such as high scalability, low transaction fees, and self upgradability.

Foreign Exchange Liquidity

Liquidity is the degree to which an asset can be easily converted into another asset without affecting its price. When it comes to cryptocurrency trading, both "ease" and "price" are of the utmost importance. In an ideal situation, traders want their assets to be traded as quickly and easily as possible to prevent any potential increase in the purchase price.

Reef 20

REEF-20 is the official token standard on Reef Chain. Reef users and developers can create their own REEF-20 tokens, or port existing tokens from legacy Ethereum onto Reef Chain through the liquidity bridges.

Reef Token

REEF tokens are the fuel of the Reef ecosystem. Holders of REEF tokens participate in the governance of the network and vote on various proposals, including but not limited to changing the structure of the Reef Baskets, altering pool attributes, altering the structure of the DAO, and so on. REEF tokens also empower the holders to stake their tokens, earn staking rewards, and participate in a host of DeFi farming programs.

Reef Intelligence Engine

The Reef Intelligence Engine is an off-chain oracle that collects information from various real-world sources, such as social media data, news, tweets, along with on-chain data. This data is then converted to usable metrics and insights, which the Reef Engine uses to divide DeFi assets and investment opportunities into allocation baskets sorted by the duration of exposure and risk level.

Reef Finance DAO

The Reef protocol will be governed through a Decentralized Automotive Organization (DAO) structure. REEF tokens represent the voting power in this DAO, which can be used either directly or delegated to Validators. Any governance proposals in this DAO is voted on by REEF holders, and either accepted or rejected in an autonomous and transparent fashion.

Reef Staking

REEF holders are able to stake their REEF tokens to the Validators of Reef Chain and participate in the consensus process and governance of the network. Stakers also earn attractive rewards on the REEF tokens that they stake.

Reef Finance Debit Card

Reef Finance will be the first protocol in the DeFi space to offer DeFi Debit Cards. DeFi Debit Cards will be rolled out in Q2 of 2021. Over 60 million merchants worldwide accept the Reef Finance Debit Card. Holders of Reef's DeFi Debit Card are able to easily spend the yields they earn on Reef’s platform and earn lucrative cashback in the form of REEF tokens for the money they spend.

Reef Bond

Reef Bond is a unique DeFi initiative from Reef Finance, which allows users to stake tokens of a certain project for a predetermined lock-up period and farm tokens of a different project. The Reef Bonds were first deployed on Ethereum, and then on Binance Smart Chain (BSC), enabling users to enjoy additional benefits such as fast transaction confirmations at very low fees.

DeFi

Decentralized Finance (DeFi) is a general term for various applications and projects in the blockchain public space and aims to subvert the traditional financial world. DeFi was inspired by blockchain technology and is called a financial application built on blockchain technology, usually using smart contracts. Smart contracts are automatically executable protocols that do not require intermediaries to execute, and anyone with an Internet connection can access. DeFi is made up of peer-to-peer applications and protocols developed on a decentralized blockchain network. With DeFi, it is easy to borrow, lend or trade financial instruments without access rights. Today, most DeFi applications are built using the Ethereum network, but many alternative public networks are emerging that provide speed, scalability, security, and lower costs.


DeFi provides a new direction for finances by enabling loans. Widely regarded as "open finance", decentralized loans provide cryptocurrency holders with borrowing opportunities for annual returns. Decentralized loans allow people to borrow money at a specific interest rate. The purpose of the loans is to support financial services use cases while meeting the cryptocurrency community's needs. Another type of service provided by DeFi is asset management. It aims to make investment faster, cheaper, and more democratic. All aspects of the DeFi ecosystem are very beneficial to asset management, including transparency, composability, and lack of trust. Transparency promises to make information accessible and secure and can be combined to enjoy the ultra-customization of the portfolio. DeFi does not require trust to allow access to historically illiquid assets and manage your investment, no matter where it is.

Reef Basket

Reef Basket is an application of the Reef Basket Engine, which is designed to make the entry into DeFi and management of DeFi assets significantly easier.

The ‘baskets’ are a collection of DeFi tokens and assets and are considered the crypto equivalent of an ETF. Reef Basket allows users to:

Invest in a given Reef Basket instead of investing in multiple individual protocols.
Customize the baskets by adding and removing tokens as per their requirements.

Reef Chain

Reef Chain is an EVM compatible DeFi blockchain developed on the Substrate framework. Reef Chain offers high scalability, low transaction fees, and a host of other features required to power DeFi DApps. Reef Chain allows developers to seamlessly port their existing applications from legacy Ethereum to Reef Chain without any change in the base code.