Question 1

What is Reef?

Accepted Answer

Reef is a blockchain-based platform designed to simplify DeFi for users by offering a cross-chain liquidity aggregator and yield engine. It provides users with easy access to liquidity from various sources across multiple blockchains, including Ethereum, Binance Smart Chain, and Polkadot.

Question 2

What is the REEF token?

Accepted Answer

REEF is a utility token on the Reef network. It serves as the native currency on Reef chain and is used for transaction fees (gas) and on-chain governance (NPoS and PoC). The token offers both inflationary and deflationary mechanisms, with a flexible supply of REEF tokens. Users can stake their REEF tokens and participate in the governance process to earn rewards, and the token can be used as collateral within the Reef chain ecosystem.

Question 3

Total Supply and Liquidity Supply

Accepted Answer

Reef chain token does not have a fixed supply; however, the target supply at launch was approximately 20 billion REEF. The Reef chain's fee burn model is deflationary in nature, offsetting the governance and running costs of the chain (rewards paid to nominators and validators). Reef tokens have initially been deployed on Ethereum and Binance Smart Chain, and users can swap them for Reef chain native tokens and vice versa. The full breakdown of per-chain issuance and liquidity bridge supply is available through the supply API.

Question 4

Reef Fee Burn Statistics

Accepted Answer

All activities on Reef chain, such as minting or selling NFTs, trading tokens, and transacting on-chain, have associated fees. The REEF tokens used for fees are continuously burned to offset inflation. The burn statistics are available on Reefscan.

Question 5

What is it used for?

Accepted Answer

Reef (REEF) facilitates cross-chain DeFi transactions on the Reef platform. It offers users access to a variety of DeFi protocols, including lending, borrowing, staking, and trading, all in a single location. Users can utilize REEF to pay for transaction fees on the platform and to earn rewards through yield farming and liquidity provision. Moreover, REEF serves as a governance token, granting holders the ability to vote on platform upgrades and changes. Reef's objective is to make DeFi accessible to everyone by streamlining the process of navigating the complex and fragmented DeFi ecosystem.

Question 6

Who created Reef (REEF)?

Accepted Answer

Reef (REEF) was created by a team of developers led by Denko Mancheski.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	REEF-USDT REEF_USDT	gateio	A	0.0₄4296USDT	-3.31%	23,378,692.00REEF	64	0.0₄4443USDT	0.0₄4600USDT
2	REEF-USDT REEFUSDT	mexc	C	0.0₄2011USDT	-0.10%	2,680,829,874.43REEF	3,020	0.0₄2012USDT	0.0₄2063USDT
3	REEF-USDT reefusdt	huobipro	C	0.0₄4001USDT	0.00%	0REEF	0	0.0₄4001USDT	0.0₄4001USDT
4	REEF-USDT REEFUSDT	binanceusa	B	0.0₄4500USDT	0.00%	340,815.00REEF	2	0.0₄4500USDT	0.0₄4500USDT
5	REEF-INR REEF_INR	unocoin	-	0.004400INR	0.00%	0REEF	0	0.004400INR	0.004400INR
6	REEF-USDT REEF_USDT	poloniex	C	0.0₄4100USDT	0.00%	0REEF	0	0.0₄4100USDT	0.0₄4100USDT
7	REEF-USDT REEFUSDT	latoken	D	0.0₃1352USDT	0.00%	0REEF	0	0.0₃1352USDT	0.0₃1352USDT