Alameda Research Invests $20 Million Into Reef Finance To Implement More Cross-Chain Integrations With Two Companies
Alameda Research Invests $20 Million Into Reef Finance To Implement More Cross-Chain Integrations With Two Companies
March 15, 2021
Alameda Research Invests $20 Million Into Reef Finance To Implement More Cross-Chain Integrations With Two Companies
Alameda Research Invests $20 Million Into Reef Finance To Implement More Cross-Chain Integrations With Two Companies
March 15, 2021

Alameda Research is going to invest $20 million into Reef Finance, the Polkadot-based DeFi platform, to implement more cross-chain integrations with Serum and Raydium on Solana.

It has been reported that Alameda Research will be purchasing $20 million worth of the firm’s native tokens, REEF, around 528 million at the current price of $0.03787.

However, the investment will reportedly allow the two companies to collaborate on technology and strategy “in the near future.” Reef CEO Denko Mancheski added the additional funds would help the firm develop DeFi applications for the Reef blockchain.

The report said that the $20 million in Reef comes after a $40 million investment in Solana-based lending platform Oxygen and $50 million in Maps.me, a travel and mapping application with more than 140 million users worldwide.

ALSO READ :  Waves Enterprises Partners With Conflux Network To Boost Hybrid Data Transactions In Permissioned Networks

With Reef, Alameda said it was aiming for more cross-chain integrations with Serum and Raydium on Solana.

Thus, Reef became the first Polkadot-based project to debut on the Binance Launchpool in December. 

Source: Cointelegraph


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Coinbase Active Users Increase By 120%

Coinbase Active Users Increase By 120%

The active users of Coinbase, the major cryptocurrency exchange, have increased by 120%, while trade volumes tripled. It has been reported according to documents filed with the US Securities and Exchange...

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.