Reef Finance has just launched the ReefChain Testnet today which is on 31st March 2021, it has been well anticipated by Reef users and now it is here.
I will be sharing with you the 7 main features of ReefChain on the TestnetItalic as shared on twitter :
Solidity Support: Developers will be able to seamlessly migrate DeFi (Decentralized Finance) apps from Ethereum to ReefChain without any change in the base Solidity code.
This will allow ReefChain to maximize the potential of all your favorite DeFi dApps.Scalability: ReefChain will offer much higher transaction throughput and scalability esp compared to Ethereum.
Developers will be able to get a seamless DeFi experience by porting over.Self Upgradability: ReefChain will be self-upgradable by default.
Using Substrate framework, new features, security updates, performance optimizations will all be installed easily without the need to fork blockchain.EVM extension: ReefChain will extend the utility of EVM (Ethereum Virtual Machine) with a host of features:
✔️Native token bridge
✔️Scheduled calls (i.e., recurring payments)
✔️Smart contract in-place code updatesReef Staking: ReefChain will support the staking of the native $REEF token.
Get ready to stake your $REEF!Liquidity Bridge: ReefChain will implement a token swap bridge to Ethereum
You'll be able to wrap your existing ERC-20 tokens and easily transfer liquidity from legacy Ethereum to ReefChain.Reef's Open Sourced: Reef's codebase is now open to the public on github.
Anyone can review and contribute to our efforts in making DeFi mainstream.
About Reef Finance
Reef Finance is building Reef Chain, a DeFi blockchain built on Substrate and customized for the needs of the DeFi DApps of tomorrow.The main goal of Reef Finance is to make DeFi easy for everyone to invest and now to build a DeFi application.