What Is Reef
Reef is a DeFi (decentralized finance) platform built on Polkadot with the intention of being straightforward, without the barriers and complications found on other platforms. They express a mission of making DeFi easy and accessible to more people, and have designed their platform accordingly.
On Reef, users can perform cross-chain trading thanks to how Reef Chain integrates with DeFi from Ethereum, Polkadot, Avalanche, Cosmos and Binance Smart Chain. According to the team, Reef Chain is much more advanced than Ethereum; for instance, it has a higher transaction throughput and low transaction fees, and is more efficient with blockchain storage.
On top of trading, users can port their DeFi applications from Ethereum to the Reef Chain without having to modify their Solidity code, and soon, will have access to a liquidity bridge where they can wrap existing DeFi assets and transfer liquidity from Ethereum to the Reef Chain.
REEF is the native token of Reef Finance, and as we’ll soon cover down below, is used for governance and gas fees. It recently launched on Binance, and is available on many DEXes (decentralized exchanges).
REEF Price Prediction For The Next 90 Days
Below we take a look at REEF and examine some details and predictions to estimate a reasonable price for 2021, as well as for the upcoming years. It should be noted that while price predictions are based on data, and often are analyzed by AI, they should never be taken as financial advice or a solid basis for an investment. It is always highly recommended users do their own research into the projects whose tokens they wish to invest in.
Below is a tabular overview of how will REEF develop in the short-term (for the next 90 days), according to our prediction model:
REEF is the native currency of Reef, and it is used for on-chain governance with NPoS (nominated proof-of-stake) and PoC (proof-of-concept). By participating in governance through staking, users can earn rewards in return.
Furthermore they can be used for transaction fees on the platform, which can come in handy for stakers who earn rewards in REEF. The token is also available as ERC-20 on Ethereum and Binance Smart Chain and will be made convertible 1:1 with native Reef Chain tokens.
The max supply of REEF is 20,000,000,000
Of which, the current total sits at ~15,934,019,762, with ~12,670,000,000 in circulation
And an upcoming inflation rate yet to be calculated
Some supplemental data:
Messari calculates its current marketcap dominance percent at ~0.0166%
And Coinmarketcap ranks it at ~#136 in the market
There is a key distinction between “max supply” and “total supply”. Total supply is how many tokens have been created so far, and max supply is the maximum amount that there can ever be. Since the max supply has been determined in the case of REEF, there can be no more than 20,000,000,000 REEF tokens, which means users don’t have to worry about unexpected inflation in the future.
Reef was founded by CEO Denko Mancheski in 2020. From a young age Denko was into maths, competitive gaming and computer sciences. He started programming in high school and would compete in algorithmic competitions for a few years before moving into commercial software development, and working for enterprise and healthcare tech companies.
Being fascinated by fintech he was interested in blockchain technology early on, and saw its potential upon seeing the difficulty of innovation in fintech on account of overregulation and saturation in the industry.
Reef was born when he witnessed certain problems in the DeFi space, problems such as complexity and technical limitations. He put together what he described as a team of competent individuals with the ability to execute, and as a result, Reef came to be.
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On Twitter is where they frequently engage with the public and the community, posting updates, statements, news and more. Their posts are often accompanied by their graphical art styles, sometimes including animations and gifs. They are focused more so on their work rather than the token and its price, which is a good indicator and inspires some confidence in the team.
There is nothing that stands out in terms of their tone of voice; it is modern and on par with PR standards, albeit, sometimes including trendy vocabulary. Brand imagery on the other hand is on a different level in contrast to other projects. Beautiful coral landscapes are often depicted, full of diverse marine life, accompanied by the colors of the reef and the sunset.
Their Twitter currently has ~178,200 followers, where their tweets get hundreds of comments and retweets, and sometimes even thousands of likes. Their Medium blog page has ~4,800 followers, and the articles posted there see hundreds of claps (likes).
They have a Discord channel currently hosting ~1,300 members, and a Telegram group
With ~38,500 members from around the globe. Lastly, ~12,200 members are located in the Reef subreddit, where they share news, start discussions and post memes.
Overall the community is rather active on several media, and upon observing their attitudes and comments, it seems like they have a lot of faith in the project; which, while is a good thing, may turn some channels into echo chambers, where positive and reinforcing news is circulated, and critical points aren’t given enough attention. Newcomers should always be wary of potential emotional distractions prior to joining groups.
Exchanges & Wallet Support
Reef Price Prediction 2022
Our prediction model sees a temporary switch to a bear market at the beginning of 2022 before we move onto another leg up in Q3 & Q4 of 2022.
Reef Finance Market Price Prediction
Here are what price predictors are forecasting for REEF:
Wallet Investor forecasts a price of ~$0.03 (+50%**) to be reached in a year’s time, and ~$0.08 (+300%**) in 5 years. It ranks REEF as a C in terms of price predictability, which does not signify confidence.
Trading Beasts predicts a price of ~$0.02 (+0%**) by the end of 2021, and that of ~$0.05 (+175%**) by the end of 2024.
*These predictions are merely supplemental data and should not be taken as financial advice
**Percentages are based on current value and could change anytime
REEF Price Prediction 2025 – 2030 – 2040
Our prediction model sees REEF reaching new highs in 2025:
REEF price in 2030 & 2040 should be a couple of orders of magnitude higher than our 2025 prediction.
Where & How To Buy REEF:
Where To Buy REEF:
How To Buy REEF:
The process of buying crypto can differ from exchange to exchange, but here are solid guidelines on how to buy REEF:
- Select an exchange (i.e. Binance) that supports REEF and check for KYC (account verification) requirements and available payment methods.
- Create an account on your preferred exchange.
- Purchase REEF with your preferred payment method.
Already have an account on an exchange that supports REEF?
- Purchase REEF with your preferred payment method.
- Swap some of your tokens with REEF.
Note: When buying or swapping tokens, some exchanges may have minimum amounts in place. Additionally, most exchanges issue varying fees for purchases and swaps.
Here are some trusted wallets that support REEF:
Trezor (hardware wallet)
Ledger (hardware wallet)
Note: It is important to keep in mind that not every exchange offers users the private keys to their wallets. Furthermore, some exchanges may have minimum withdrawal amounts and withdrawal fees in place, and these fees differ from exchange to exchange.
Summing It All Up
Reef is very versatile, and checks most of the boxes for a successful DeFi platform. The interoperability it offers, or the IDO launching on ReefStarter, or wasteless mining… built with scalability and upgradability in mind, it has laid the right foundations for a future-proof platform.
It is a recent project as it only launched last year, and has a lot of features planned to be released in the near future such as NFT baskets, a mobile app and the liquidity bridge. All these factors support the forecasts shared above, making REEF a potentially profitable token.
References & Resources:
Also, you might want to check out other price predictions:
- Helium Price Prediction
- Injective Protocol Price Prediction
- Tellor Token Price Prediction
- Waltonchain Price Prediction – Future Forecast For WTC Price
- Future Forecast for XRP Price
- Tezos Price Prediction
- Zilliqa Price Prediction
- Sia Coin (SC) Price Prediction
- Future Forecast for RDD
- Orion Protocol Price Prediction
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com