Reef Finance and Kava Working Together on Polkadot

by in DeFI News

Reef Finance and Kava partnership

Reef Finance, one of the most popular DeFi projects running on Polkadot, has informed about a collaboration with Kava. They are aiming to bring cross-chain DeFi to Polkadot.

The union of the two platforms seems to be promising as Reef is a permission-less smart liquidity aggregator and yield engine powered by Polkadot, and Kava is a next-generation lending platform. Kava was formed with Cosmos, a framework that also directs for compatibility, and the fellowship has been described as a way of connecting the networks.

Announcing the cooperation, Reef Finance’s CEO Denko Mancheski informed that the final goal is to reach full interoperability by connecting a Substrate pallet which executes IBC and Kava’s native IBC compatibility. This will facilitate the integration between Polkadot’s parachains and Kava’s DeFi environment.

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One important aspect of interest surely is Kava’s Hard Protocol. It acts as a money market for assets like BTC, XRP, and KAVA, and the collaboration will enable Reef users to access the app via Kava’s cross-chain links.