⭐️Reef Finance, the first cross-chain DeFi operating system built on Polkadot, has strategically partnered with Bluzelle and become the first adopter of the Bluzelle Oracles. The integration of Bluzelle Oracles price feeds will enable Reef to capture real-time price information in order to power the next generation of DeFi applications.
Reef integrates both CEXes and DEXes, providing increased liquidity for all cryptocurrency asset traders and managers. It needs to aggregate information from all exchanges to help users come up with the best trading strategy through their AI-driven yield engine. As such, getting the most accurate pricing data with historical index is critical in this trading process.
Bluzelle’s decentralized oracles capture off-chain data from numerous data input sources and makes them available on-chain for any smart-contract-enabled blockchain including Polkadot. This will allow Reef to leverage a decentralized network of independent oracles to obtain market data that will be reliable. Our decentralized DB also made historical data available, which will also improve the decision making of their AI engine.
“I am excited to work with a team of the caliber of Bluzelle which has a strong technical team to provide our users more confidence in on-chain prices. The closer fair market prices are to on-chain prices, the further we can push the adoption of DeFi” said Denko Mancheski, CEO of Reef Finance.
Bluzelle Oracles have 3 unique components that make it stand out from the others:
Fast Pricing Interval
High-quality price data
Advanced security triggers
Powered by our decentralized BluzelleDB and advanced analytics, we produce the most reliable price point with a 5 step data cleaning process.
Furthermore, decentralized storage allows data from the Reef Finance platform to be stored on different hosts by distributing the files across the entire network without being restricted by any centralized entity. Flexibly managing data and effectively enhancing data security and reliability through data encryption, secure backup, authorized access and other means will be important for Reef Finance to scale up into a leading DeFi platform.
“Reef Finance is positioned as a core pillar of Defi on Polkadot. To work with such a great platform and team gives further strength to our Oracle solution. It is exciting to be part of this first wave of products emerging on top of Polkadot,” said Pavel Bains, CEO of Bluzelle.
The Bluzelle team will work closely with Reef to start the integration. Since Reef becomes the first adopter of Bluzelle Oracles, we believe their feedback will be extremely valuable to help us accelerate as the best Oracles in blockchain. And with us, Reef Finance can bring DeFi mainstream adoption faster to mass audiences.
About Reef
Reef is the first cross-chain DeFi operating system built on Polkadot. With a seamless user interface, Reef offers its users a smart liquidity aggregator and yield engine that enables access to liquidity from both CEXes and DEXes while offering smart lending, borrowing, staking, mining through AI driven personalized baskets. For more information, visit reef.finance.
About Bluzelle
Bluzelle aims to be the go-to data layer for Web 3.0 by providing a decentralized data network that is tamper-proof and has greater privacy, scalability and availability than traditional solutions. Powered by Cosmos, Bluzelle handles 10,000 TPS and is a delegated proof of stake. Bluzelle’s defi solutions are being developed to enhance Defi with historical price feeds, provide data analytics, 360 degree views, and more. As defi grows, Bluzelle’s infrastructure services play a big role.
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!