Reef Baskets: An New and Easy Way to Manage Your Crypto Assets

Reef Baskets: An New and Easy Way to Manage Your Crypto Assets

Reef Finance is one of the top names in the DeFi blockchain space. Reef Chain is an Ethereum Virtual Machine compatible blockchain looking to solve some of the pain points experienced in DeFi. Being EVM compatible directly means that codes or smart contracts on the Ethereum network can be successfully deployed on Reef Chain.

Reef Finance is the most interoperating chain in DeFi. Reef Chain has established the first cross-chain DeFi Operating System as it gathers liquidity from diverse decentralized and centralized sources onto its chain. This type of aggregation allows blockchain users to access diverse DeFi products in one place.

Reef Baskets

Reef Baskets are decentralized platforms that allow users to manage and invest in various DeFi tokens and assets. They are ideal for investors wanting to manage their DeFi holdings easily. With the Reef platform, users would be able to customize their assets and manage their investments in various pools and tokens. Its UI would then generate a return on its investments based on the composition of its chosen pools. Reef Baskets enables users to manage their DeFi assets and tokens by taking advantage of its features, allowing users to easily invest in multiple decentralized protocols.

Each Reef Basket will have its own risk and potential returns. The high-risk or low-risk Baskets will be presented to users at the start of their journey. The Reef Baskets are decentralized investment funds that can be used as an index fund or an exchange-traded fund and will help investors answer the questions related to investing in cryptocurrency.

Reef Baskets will feature a variety of features that will allow users to obtain higher-yielding and more stable coins. Some of these include several popular options such as Mooniswap, Unicoin, and Balancer, to mention but a few. Each basket will have its unique characteristics, such as the number of months and years it’s been active or inactive, allowing users to pick the best one for their portfolio.

Reef allows users to customize their Reef Baskets, allowing them to set up their pool or tokens as per their choice. It also calculates returns for the new custom allocation. The yield will be shown in real-time on the Reef platform. Both the principal and accrued interest will be redeemed any time the investor wants, or the investor can convert their principal into accrued interest.

Deploying Reef Baskets on Reef Chain

The Reef Baskets' first version will be on the Ethereum network. However, it is important to note that transactions on Ethereum will require gas fees. This is because Reef Baskets will need to verify transactions on the blockchain, and this eats up a significant portion of the yield made.

Therefore, Reef Finance is working on Reef Chain, a DeFi blockchain that will be customized to meet the needs of tomorrow's Dapp. It will be powered by our Reef Baskets and will birth advantages such as low transaction fees with low cost, which will enhance the user's experience and drive more adoption for the DeFi space.

However, ReefDefi is planning on deploying the Reef Baskets on other blockchains that accept lower gas fees, such as the ParaChain built on the substrate framework, and made to execute transactions at a faster rate and a lower cost.

Reef Baskets Features: Unique and Simple Use

Reef Basket is important because it simplifies the entry and management of various DeFi holdings into one place. The CEO of Reef Finance, Denko Mancheski, said, "Reef Baskets are the ideal tool for the passive investor who may not wish to spend time researching and curating his portfolio of tokens.”

It will also be the first to incorporate an AI-powered investment recommendation system that enables users to create their baskets and features a variety of predefined profiles that are customized to each investor. Reef Baskets is unique because it uses Reef's AI Smart Engine to provide customized investment recommendations based on an investor's risk appetite and past performances. Its uniqueness is also displayed as it is a decentralized platform that enables users to transact with each other through a network of smart contracts. Its underlying infrastructure is a ledger that enables each basket to connect to a DeFi platform.

Reef Baskets is making a niche for itself in the complex blockchain world and wide DeFi space as the first and sole provider of financial solutions by serving risk-averse investors with a single point of entry. In addition, Reef Baskets will largely enable the rush of average investors who were held back by technical barriers that have been telling on the blockchain and DeFi newcomers for some time now.

The two main features on Reef Finance utilized by Reef Baskets are:

Reef Trading Terminal
Due to their centralized nature, CEXs are prone to security breaches. DEXs are not as secure, have liquidity issues, and are not ideal for users. Reef aims to bridge the gap between CEXs and DEXs by integrating Polkadot's atomic bridge.

Reef Yield Engine
This is an AI-driven tool that enables users to deposit their assets into their buckets. It provides personalized advice and investment strategies on options like mining, staking, lending, borrowing, and more.

Conclusion

Reef’s latest product is another example of how blockchain players are starting to democratize access to the DeFi market. With the growing number of investors joining the crypto-investment industry, it could be a good fit for new-to-crypto investors, or those wanting a simple all-in-one solution. Simplicity and ease of use of blockchain products have been stated as the way forward, and Reef has developed Reef Baskets for this reason.

In the future, there might be new developments released as ReefDefi looks to innovate by developing new features to promote ease of use and lower risk of trading, while also being secure.