Reef Finance, a DeFi ecosystem powered via Polkadot, has launched a brand new funding product geared toward serving to passive buyers achieve get right of entry to to a broader portfolio of cryptocurrencies.
Reef Baskets V1 is described as an “Ethereum-based framework for deploying collections of DeFi tokens” and different crypto property. It operates in a identical approach to exchange-traded finances, or ETFs, which might be fashionable amongst conventional buyers and institutional managers.
Investors who use Reef Baskets have the ability to put money into more than one DeFi token baskets on the identical time. Reef Finance describes its Baskets as a “quantitative approach to yield farming” that reduces an investor’s decision-making house to simply two components: what quantity of money they’re prepared to make investments and what kind of possibility they’re prepared to think.
The preliminary model of Reef Baskets is to be had on Ethereum, with a impending unlock scheduled for the Polkadot-based Reef Chain.
CEO Denko Mancheski believes Reef Baskets supplies a viable choice for buyers who don’t have time to sift through the loads of recent DeFi tasks hitting the marketplace. He defined:
“Reef Baskets are the ideal tool for the passive investor who may not wish to spend time researching and curating his own portfolio of tokens […] Picking the winner is objectively hard in DeFi, and Reef Baskets combined with the Smart Engine simplifies the investment process.”
Decentralized finance stays one among the freshest verticals throughout the blockchain business. There are recently 274 cryptocurrencies indexed within the DeFi class of CoinMarketCap, a determine this is most likely to increase considerably this yr as extra tasks come on-line. The marketplace cap of current DeFi tasks is indexed at simply over $98 billion.
Reef Finance made headlines closing month after it gained $20 million in strategic investments from Alameda Research. The acquire gave Alameda an estimated 528 million REEF tokens.