Fellow Binancians,
Binance is excited to announce the 11th projects on Binance Launchpool - Reef Finance (REEF). A multi-chain smart yield engine and liquidity aggregator powered by Polkadot.
Users will be able to stake their BNB, BUSD and DOT tokens into separate pools to farm REEF tokens over 30 days, with farming starting from 2020/12/23 0:00 AM (UTC).
Binance will then list REEF into the innovation zone at 2020/12/29 6:00 AM (UTC) and open trading with REEF/BTC and REEF/USDT trading pairs.
Launchpool Details:
Token Name: Reef Finance (REEF)
Total Token Supply: 20,000,000,000 REEF
Launchpool token rewards: 600,000,000 REEF (3% of Total Token Supply)
Initial Circulating Supply: 3,965,900,953 REEF (19.83% of Total Token Supply)
Staking Terms: No upper limit. No KYC required.
Supported Pools:
- Stake BNB: 360,000,000 REEF in rewards (60%)
- Stake DOT: 180,000,000 REEF in rewards (30%)
- Stake BUSD: 60,000,000 REEF in rewards (10%)
- Farming Period: 2020/12/23 0:00 AM (UTC) to 2021/01/21 11:59 PM (UTC).
Farming Distribution
| Dates (0:00:00 to 23:59:59 UTC each day) | Total Daily Rewards | BNB Pool Daily Rewards | BUSD Pool Daily Rewards | DOT Pool Daily Rewards |
2020/12/23 - 2020/12/28 | 50,000,000 REEF | 30,000,000 REEF | 5,000,000 REEF | 15,000,000 REEF |
2020/12/29 - 2021/01/05 | 15,000,000 REEF | 9,000,000 REEF | 1,500,000 REEF | 4,500,000 REEF |
2021/01/06 - 2021/01/21 | 11,250,000 REEF | 6,750,000 REEF | 1,125,000 REEF | 3,375,000 REEF |
Read about Reef Finance (REEF) in our research report here.
Please note:
- Snapshots of user balances and total pool balances will be taken each hour to calculate user rewards, which will also be updated each hour.
- Users will be able to accumulate their rewards (calculated each hour) and claim these rewards directly to their spot accounts at any time.
- Each pool’s annual percentage yield (APY) and total pool balance will be updated in real time.
- Tokens can only be staked in one pool at a time. For example, User A cannot stake the same BNB into two different pools at the same time, but can allocate 50% of their BNB into pool A and 50% in pool B.
- Users will be able to unstake their funds at any time with no delay and participate in any other available pools immediately.
- Tokens staked in each pool and also any unclaimed rewards will be automatically transferred to each user’s spot accounts at the end of each farming period.
- BNB staked into Launchpool will still provide users with the standard benefits for holding BNB, such as airdrops, Launchpad eligibility and VIP benefits.
Project Links
Website: https://reef.finance/
Medium: https://medium.com/@reefdefi
Twitter: https://twitter.com/reefdefi
Telegram Announcements: https://t.me/reefannouncements
Telegram Community: https://t.me/reefdefi
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Binance will make best efforts to choose high-quality coins, but will not be responsible for your trading losses.
Thanks for your support!
Binance Team
2020/12/22
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