| General information | |
|---|---|
| Global rank: | 405 |
| Name: |
Reef |
| Symbol: | REEF |
| Current coin price (CRC): | 1.95 ₡ |
| Last hour: | arrow_downward-25.04 % |
| Last 24 hours: | arrow_downward-28.46 % |
| Last 7 days: | -17.65 %trending_down |
| Capitalisation (CRC): | 44 462 556 699.04 ₡ |
| Volume 24h (CRC): | 11 944 772 153.85 ₡ |
| Available supply: | 22 821 409 581.00 REEF |
| Total coin supply: | -1 REEF |
| Start date: | 2021-05-22 |
Reef/Costa Rican Col?n (REEF/CRC) price chart
Reef/Costa Rican Col?n (REEF/CRC) capitalisation and volume charts
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.
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.
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.
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.
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.
Reef (REEF) was created by a team of developers led by Denko Mancheski.