DeFi Platform Reef Finance Has a $20 Million Investment from Alameda

Deepshikha  |  Mar 13, 2021

A quantitative trading firm Alameda Research has revealed its investment of $20 million in the DeFi platform Reef Finance. The price of the Reef Finance native token is showing a great surge. The token has jumped 30.82% after Alameda reveals its investment. Alameda Research is known to provide expertise from Wall Street and Silicon Valley to provide liquidity in the crypto markets worldwide. 

Alameda Research Collaborate With Reef

After the announcement of a multi-million investment in Reef Finance, Almeda Research also clarified their collaboration with Reef. It is to be noted that the amount will go into purchasing the project’s governance token, Reef.  

The collaboration between Reef and Almeda Research aims to bridge the gap between the Solana blockchain and Polkadot. The judicious partnership will amalgamate Reef with FTX-backed Serum DEX and Raydium on Solana. 

The multi-purpose DeFi engine Reef provides multiple functions such as liquidity provision, performance accumulation between various lending and yield farming platforms. Polkadot offers support for multiple blockchains. 

Alameda Research, one of the lending OTC desks for BTC purchases was founded by Sam-Bankman Fried. Currently, Alameda Research invested in the DeFi platform oxygen and mapping services The platform also confirmed its investments in various start-ups working on medicine, blockchain, and machine learning. 

REEF’s Market Value Gets a Boost

The total market capitalization of the Reef token crossed $500 million. Also, it is seen that the token has jumped 30.82% within several hours of Alameda’s investment announcement. The first cross-chain DeFi operating platform enables traders to access liquidity from both centralized and decentralized exchanges.

With a smart liquidity aggregator, Reef also provides a range of portfolio baskets containing different DeFi products. The AI-driven Reef yield engine curates personalized investment suggestions to users. The Reef token is likely to face resistance at $0.055, a price point that marked its peak value in February. 

Related News