TRON has partnered with Reef Finance to bring better-decentralized finance capabilities to the TRON network. With this addition, Reef users will gain easy access to all of TRON’s decentralized applications (dApps) while giving TRON users cross-chain defi opportunities and a new smart liquidity aggregator that utilizes AI. Through this new trading option, users of the TRON network will be able to trade at the best possible rates, aggregated from chain-agnostic centralized exchanges (CEXs) and decentralized exchanges (DEXs).
Reef Brings New Possibilities to TRON and Vice Versa
Defi has become all the rage, exploding from less than $1 billion at the beginning of 2020 to a recent peak of over $40 billion. This has opened the door for defi platforms to flourish, as users are looking to capitalize on gains and get in on the action. Decentralized exchanges now handle billions of dollars of the daily trading volume.
With all of these new exchanges offering competing incentives to their users, aggregators provide a way to simplify the process. Decentralized aggregators use oracles and smart contracts to bring trading pairs from various exchanges to a single pool, offering users the best bang for their buck. Reef Finance takes this to a whole new level, offering decentralized exchange liquidity aggregation, but cross-chain. Having the ability to transact with multiple blockchains and CEXs isn’t just a selling point – it’s an industry-wide game changer. Users now have the opportunity to fully access liquidity across the entire cryptocurrency exchange industry, with TRON users finally getting a piece of the pie.
As one of the most popular blockchain platforms by users and applications, TRON is also bringing in a lot of value to the Reef Finance ecosystem. Innumerable TRON users will now be introduced to Reef Finance products, strengthening its community and increasing the potential value of REEF, the network’s native cryptocurrency.
Tron Is Establishing Itself as a Working Alternative
TRON’s fast transaction speeds and low fees make it very tempting for Ethereum users weary of paying $100+ at a time to execute swaps. These factors also attract application developers looking to take advantage of the scalable environment that TRON enables.
Until ETH 2.0 moves into the staking phase, which will take at least a year or more to come to fruition, dApps running on the platform will get bogged down as users fill up Ethereum blocks with transactions. Therefore, TRON has a window to establish a foothold. With the introduction of Reef Finance and the ability to interact cross-chain, TRON has a greater chance of achieving its goal of becoming a preeminent smart contract platform.