Hailed as one of the first cross-chain DeFi operating solutions powered by Polkadot, Reef Finance has announced its partnership with Torus Wallet, a leading Web 3.0 non-custodial private key management channel. The integration between the two portals will encourage more and more people to explore the DeFi world securely and easily. The news was circulated in the media via a Twitter post by the Reef Finance Twitter handle stating:
According to the report, Reef Finance will use Torus Wallet services to offer best-in-class security to the customers while dealing in DeFi products. Holding crypto assets and managing the private keys of a wallet is a tiresome process for investors currently. The partnership between Reef and Torus will strive to eliminate such issues, thereby boosting the adoption rate of DeFi.
Torus wallet is one of the most popular brands in the crypto wallet domain that fosters quick account recovery and employs the robust technological excellence of Web 3.0 and OAuth. This unique feature allows users to use identity solutions like google and twitter to collect a secure address.
Reef aims to use this technology to introduce an extra layer that can restrict the entry barriers for a large section of the users. The use of email or social website login can help investors recover their accounts safely without remembering the complex seed phrases.
The CEO of Reef Finance, Denko Mancheski, stated that the Torus Wallet team shares similar objectives to the Reef team and will work together to promote the growth of the DeFi ecosystem as a whole. Reef offers a simple channel that helps to provide access to prominent DeFi services.
The liquidity aggregator and yield engine offered by Reef will help facilitate trading for the users by offering seamless access to liquidity modules from centralized and decentralized exchanges. The AI-powered Reef Yield Engine offers diverse, robust services concerning the execution of various services, including staking, mining, borrowing, and lending operations for crypto investors.