Reef Finance, a decentralized finance ecosystem powered by Polkadot, has released a new investment product aimed at helping passive investors gain access to a broader portfolio of cryptocurrencies.
Reef Baskets V1 is described as an “Ethereum-based framework for deploying collections of DeFi tokens” and other crypto assets. It operates in a similar manner to exchange-traded funds, which are popular among traditional investors and institutional managers.
Investors who use Reef Baskets have the opportunity to invest in multiple DeFi token baskets at the same time. Reef Finance describes its Baskets as a “quantitative approach to yield farming” that reduces an investor’s decision-making space to just two factors: how much money they are willing to invest and how much risk they are willing to assume.
The initial version of Reef Baskets is available on Ethereum, with a forthcoming release scheduled for the Polkadot-based Reef Chain.
Reef Finance CEO Denko Mancheski believes Reef Baskets provides a viable option for investors who don’t have time to sift through the hundreds of new DeFi projects hitting the market. He explained:
“Reef Baskets are the ideal tool Title: Reef Finance aims to simplify DeFi investing through Baskets protocol
Sourced From: cointelegraph.com/news/reef-finance-aims-to-simplify-defi-investing-through-baskets-protocol
Published Date: Thu, 08 Apr 2021 18:43:34 +0100