After investing in the travel app Maps.me and the decentralized funding protocol oxygen, Alameda Research will invest $ 20 million in Reef Finance, the Polkadot-based DeFi platform.
According to Reef Finance Alameda Research will acquire $ 20 million in the company’s domestic token, REEF, approximately $ 528 million at the current price of $ 0.03787The investment is said to allow the two companies to collaborate “in the near future” on technology and strategy. Reef CEO, Denko Mancheski, He added that the additional funding would help the company develop DeFi applications for the Reef blockchain network.
The $ 20 million invested in Reef came from a $ 40 million investment in Solana’s Oxygen loan platform and $ 50 million in Maps.me., a travel and map app with over 140 million users worldwide. With Reef, The company wanted more cross-chain integrations with Serum and Raydium at Solana.
Reef was the first Polkadot-based project to debut on Binance Launchpool in DecemberYear-to-date, REEF is up more than 150% from $ 0.014954 to $ 0.037808 at press time.