Bluzelle Collaborates With Reef Finance To Bring DeFi Mainstream Adoption With Polkadot
Reef finance is the first cross-chain DeFi operating system which is built on Polkadot. Reef has strategically partnered with Bluzelle which makes it the first to adopt the Bluzelle Oracles. Bluzelle Oracles integration will enable Reef capture real-time price information, making it capable of powering the future of DeFi applications.
Reef is integrating both CEXes and DEXes to provide greater liquidity for all cryptocurrency asset traders and managers. Aggregation of information from all exchanges is required to aid users get the best trading strategy via their AI-driven yield engine. Hence, it is important in this trading process to get the most accurate pricing data with historical index.
Bluzelle’s decentralized Oracles is capable of capturing off-chain data from several data input sources and make them accessible on-chain by any smart-contract-enabled blockchain which includes polkadot. With this, Reef will be able to obtain reliable market data by leveraging a decentralized network of independent oracles. Bluzelle’s decentralized database also makes historical data available to enhance the decision making of their AI engine.
Denko Mancheski, CEO of Reef Finance said he is excited to work with a team of the caliber of Bluzelle which has a strong technical team to provide their users more confidence in on-chain prices. He also added that the closer fair market prices are to on-chain prices, the further they can push the adoption of DeFi.
The Bluzelle Oracles constitute 3 unique components which makes it outstanding among others. This includes:
- Fast pricing interval
- High-quality price data
- Advanced security triggers
Bluzelle produces the most reliable price point with a 5 step data cleaning process. This is powered by the decentralized BluzelleDB.
In addition, decentralized storage enables data from Reef finance platform to be stored on different host, it distributes the files across the whole network without any restrictions from any centralized entity. In order for Reef finance to evolve to a leading DeFi platform, flexible management of data security and reliability enhanced by data encryption, secure backup, authorised access and other means is essential.
Pavel Bains, CEO of Bluzelle said, Reef finance is positioned as a core pillar of DeFi on Polkadot. He added that working with such great platform and team gives further strength to the Oracle solutions. He affirmed that being a part of the first wave of products emerging on top of polkadot is really exciting.
The Bluzelle team is willing to work intimately with Reef to begin the integration. With Reef being the first adopter of Bluzelle Oracles, It is believed that their feedback will be of great value to help in accelerating as the best Oracle in the blockchain industry. Also Reef finance collaboration with Bluzelle can bring about speedy adoption of DeFi Mainstream by large audiences.
About Reef:
Reef is an unprecedented cross-chain DeFi operating system that is built on Polkadot. Reef offers users a smart liquidity aggregator and yield engine with a seamless user interface, this gives access to liquidity from both CEXes and DEXes as it offers smart lending, borrowing, staking, minning via AI driven personalized baskets.
Website: www.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 developed to strengthen Defi with historical price feeds and also provide data analytics, 360 degree views and more. Bluzelle’s infrastructural services play a big role as DeFi grows even bigger.
