Binance added Reef Finance (REEF) as the 11th project on Launchpool. Binance Coin (BNB), Binance USD (BUSD) and Polkadot (DOT) holders will be able to stake into separate pools, and farm REEF tokens over 30 days.
The farming period started on 23rd of December 2020 and will end on the 21st of January 2021.
Reef Finance (REEF) is a multi-chain smart yield engine and liquidity aggregator powered by Polkadot. The REEF protocol can be integrated on any DeFi project, giving retail investors access to the DeFi ecosystem. REEF Token is the native token of the protocol and has a total supply of 20,000,000,000 REEF. Binance Launchpool will distribute 600,000,000 REEF tokens, equal to 3% of the Total Token Supply.
From the 600,000 REEF tokens, the majority will be distributed by the Binance Coin (BNB) Pool, where 360,000,000 REEF will be shared in rewards, which is 60% of the total reward pool. The Polkadot (DOT) pool will share 180,000,000 REEF tokens in rewards while the Binance USD will distribute the remaining 60,000,000 tokens. The farming distribution will be boosted in the first week, when 50,000,000 REEF tokens will be distributed daily. See below the farming distribution details.
The farmers can claim the reward on a hourly basis, but the reward will accumulate if not claimed. The assets can be unstaked instantly, and the tokens and unclaimed rewards will be automatically transferred into the Spot Wallet at the end of each farming period. This project looked more interesting than the Chiliz Fan Tokens, so I moved my BNB and BUSD into the REEF farming pool.
The 10 Polkadot I had in a locked saving got "unchained" in the preparation period, so I add them as well. After that, the 10 BNB staked on PancackeSwap unlocked so I added them as well. At the moment I am all in on farming REEF, and I plan to HODL for a year.
Links and referrals:
Project Links Website: https://reef.finance/
Medium: https://medium.com/@reefdefi
White Paper: https://reef.finance/resources/ReefLitePaper_v100c.pdf
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