Reef Finance Launches $20M Grant for Developing Reef Chain

Reef Finance is launching a $20 million grant for the development of the Reef Chain ecosystem that intends to support developers with the much-required tools for building DeFi apps.

Reef Finance is Launching a $20M Developer Grant Program

Reef Finance is launching a $20 million grant for the development of the Reef Chain with the intention to onboard top developers and equip them with tools to build DeFi apps in the Reef ecosystem.

“The $20M Grant Fund will be used to help onboard and equip developers with the necessary infrastructure needed to build out the Reef ecosystem. We’re looking to attract top-notch talent who are interested in building the DeFi applications of the future with us,” the announcement release reads.

Furthermore, the grant intends to target projects that focus on building and deploying apps having multiple real-world use-cases while driving mainstream adoption within the Reef ecosystem.

The team’s current focus is towards building decentralized financial applications (DeFis) including lending/borrowing protocols, runtime Modules/Chains, NFT development, DEXs, wallets, and interfaces as well as instruments for blockchain development.

Developing the Recently Launched Reed Chain

Reef Finance is going to fuel the development process with the most impressive funding and equip the most promising blockchain projects with top-notch infrastructure, following the successful launch of its long-anticipated Reef Chain.

The team behind Reef Finance is tasked with building the DeFi-based Reef Chain on the Substrate framework, allowing users to enjoy low-to-no transactional costs, high speeds, and scalability.

“We at Reef believe that good developers are the frontiers in the adoption of solutions within any blockchain, and as we work towards making DeFi easy for everyone, we also believe that encouraging the development of solutions for our developer community is the fastest way to achieve this. With the launch of our grants program, we also intend to enhance the development of our recently launched Reef Chain,” per the announcement release.

As it supports both Solidity and EVM, every Ethereum-based dApps can be seamlessly moved to Reef Chain without any changes to the codebase.