Paralink Network is delighted to officially announce its partnership with next-gen DeFi player, Reef Finance to outplay the DeFi markets. Both Paralink Network and Reef Finance are rampant towards fueling the DeFi innovation by addressing the ongoing challenges in the prevalent landscape.
Reef Finance is a cross-chain DeFi operating system leveraging Polkadot Network to infuse smart liquidity aggregator solutions and AI driven yield engines to create a seamless user experience.
Whilst the partnership, Paralink Network aims to synergize with Reef Finance by providing reliable and secure multi-chain oracle solutions leveraging the Polkadot Network.
Data serves as an indispensable part of the decentralized network. Paralink Network employs a on-chain consensys mechanism to collect, validate, aggregate and interpolate real-word data into the smart contracts in a safe and secured way. Paralink Network eases fetching real-world data for smart contracts in the most accurate and seamless fashion, thus supporting diverse applications in the DeFi sphere. It empowers decentralized applications with real-time market data reinforcing reliability and accuracy in a dynamic landscape.
Paralink Network will ensure that Reef’s ecosystem will be updated with accurate data relating to DeFi tokens and latest cryptocurrency feeds for users in the Reef ecosystem. The Reef’s ecosystem will also have access to Paralink’s native token Para to allow users to participate in liquidity mining and staking mechanisms, thus facilitating users to maximize their returns and earn additional yields. Certainly, with the Paralink-Reef partnership, the data fragmentation issue prevailing in the dynamic DeFi sphere will be addressed, reinforcing the extensive value of meaningful partnerships.
With respect to the dynamics of this partnership, Denko Mancheski, CEO of Reef Finance said,
“Reef chose to work with Paralink because Paralink’s flexible node design allows developers to query data including pricing data, on-chain data, real-world events, sports, weather, random numbers and more. Reef’s users will be able to seamlessly participate in utilizing the Paralink platform and utilize Paralink’s flexible node, helping usher in mainstream DeFi adoption”
We will continue to empower our community with latest technological updates, meaningful partnerships and future developments.
Paralink is a multi-chain oracle platform leveraging Polkadot Network and Substrate stack for its on-chain consensus algorithm in order to eradicate the prevalent data issues in the DeFi industry. Paralink employs PQL validation to ameliorate security and robustness on its platform, thus solving the data blocks by providing accurate and reliable data.
Paralink Network is a multi-chain oracle platform for DeFi applications powered by Polkadot.
Telegram Announcements: https://t.me/paralinkannouncements
Paralink Litepaper: https://docs.paralink.network/whitepaper/summary.html
About Reef Finance
Reef is the first cross-chain DeFi operating system built on Polkadot. With a seamless user interface, Reef offers its users a smart liquidity aggregator and yield engine that enables trading with access to liquidity from both CEXes and DEXes while offering smart lending, borrowing, staking, mining through AI driven personalized Reef Yield Engine.