Klever, Reef Partnership Enables Reef Mainnet Migration

The strategic partnership enables the only liquidity bridge from REEF (ETH & BSC) to Reef Mainnet through Klever Swap, empowers Reef Staking as Klever becomes the first external validator on Reef Mainnet.

Klever.io, the industry-leading crypto wallet ecosystem, and Reef Finance, one of the most prominent DeFi platforms today, is proud to announce a strategic partnership between the two projects to empower REEF Mainnet migration in the Klever app.

The Klever and Reef teams have been working jointly for months to enable the partnership parameters inside the Klever app, and the new features are available in Klever’s new Update 4.3.0 for Android and iOS.

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NEW FEATURES:

  • REEF Network support in klever app
  • REEF Mainnet Swap
  • REEF Staking (Bond and Nominate)
  • REEF Nomination of Validators (Votes)
  • Klever as the first external validate on REEF Mainnet

Liquidity Bridge to Reef Mainnet in Klever Swap

Klever has enabled the first and only Ethereum and Binance Smart Chain (BSC) liquidity bridges to Reef Chain, for Reef holders to convert their tokens to Reef Mainnet tokens through Klever Swap.

How to Swap Reef (ETH & BSC) to Reef Mainnet token in Klever Swap

                    How to Swap Reef (ETH & BSC) to Reef Mainnet token in Klever Swap

Once Reef holders have swapped to Reef Mainnet token, Klever also brings the ability to Stake Reef tokens through their wallet through “Bonding“.

Klever Enables Reef Mainnet Staking

With Reef and Klever, users do not need to go anywhere else to earn the highest and safest yield on their crypto assets, as Reef holders can now Stake their tokens through Bonding.

How to use Bonding (Staking) on Reef Chain in Klever

                                        How to use Bonding (Staking) on Reef Chain in Klever

It is important to note that in order to be eligible to receive APR or rewards on staking with Reef Chain, users need to do both bonding and nomination. Users will not receive rewards if they only bond, since the user also needs to nominate a validator.

Klever Becomes 1st External Validator

How to Nominate (Vote) for Klever as validator on Reef Chain

                                   How to Nominate (Vote) for Klever as validator on Reef Chain

Klever is now officially voted in as Reef Chain’s first external validator, advancing decentralization by assisting other projects to progress and allows over 3 million Klever users to benefit from the Reef Ecosystem bringing additional value to both communities.

Klever Founder Speaks On Partnership

Dio Ianakiara, CEO and co-founder of Klever, commented on the strategic partnership with Reef:

“We are excited to become the first external validator on Reef Mainnet, bringing vast experience of node operations as Klever today maintains close to 100 different nodes on dozens of major blockchains, and being part of advancing decentralization throughout the crypto industry.

Klever is all about making it easy to manage and grow your crypto, while supporting ambitious projects with the same mindset. Therefore we are proud to enter this strategic partnership with Reef Finance to provide the only liquidity bridge to Reef Mainnet seamlessly through Klever Swap and enable Reef Mainnet Staking in Klever.”

About Reef Finance

Reef Finance has developed a fast, scalable, and EVM-compatible chain for DeFi applications, Reef Chain. Reef Chain is a customized blockchain that allows developers to build DApps or deploy existing projects from Ethereum.

After successfully completing the audit by Halborn, a leading blockchain security firm, Reef Chain enters the Mainnet stage with over 200 smart contracts deployed on its testnet. Its flagship Substrate-based network, based on the Polkadot ecosystem protocol, has opened doors for smart contract developers across blockchain to build high-performance DeFi protocols on top of the Reef Chain.

Reef’s developer support program also offers financial and technical expertise to teams wishing to deploy on Reef Chain. Its aim is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.

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Denko Mancheski, Founder of Reef Finance, had this to say about working with Klever:

“This partnership with Klever is a massive step forwards in terms of decentralization and we are deeply impressed by the professionalism and success of their team. It’s with great pleasure that we announce our new liquidity bridge and staking capabilities with Klever.”

“It’s time that Reef opened the floodgates for DeFi. Our focus is enabling a new age of cross-chain DeFi, where users from other blockchains can use Reef Chain for all their DeFi needs without hassle.”

Klever will be adding many more staking options for numerous blockchains, coins and tokens moving forward, so stay tuned!

Introducing support for more platforms for swapping, staking and participation within the Klever ecosystem is part of our overall goal towards a decentralized, thriving and inclusive crypto economy, powered by Klever.
About Reef Finance
Reef Finance is building Reef Chain, a DeFi blockchain built using Substrate.

Reef Chain provides high scalability, enabling almost instant low-cost transactions, and supports Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any change in the codebase.

Reef’s vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.

About Klever

Klever app is a simple, fast, smart and secure crypto wallet, serving as the epicenter of the Klever network. The Klever ecosystem supports the world’s major blockchains such as BTC, ETH, TRX, BNB, XRP, LTC, and many others for storing, sending, receiving, charging and swapping cryptocurrencies.

Klever offers 300+ trading pairs in Klever Swap with over 50% of all KLV tokens currently frozen and staked by Klever users.

The Klever team, consisting of over 90 developers and 120 total staff, is building several platforms under their in-house development entity, Klever Labs, including Klever Browser, Klever Bank, Klever Hardware Wallet and Klever Blockchain, which will function as the foundation of the entire ecosystem. Download Klever app at klever.io.

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The Author

tori4town

Tori4Town is the print name for one of the authors of the Tori4Town news platform. An engineering student who derives satisfaction writing about trending news stories.

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