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Reef Finance aims to simplify DeFi investment thanks to the Baskets protocol

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Reef Finance, a DeFi ecosystem powered by Polkadot, has released a new investment product aimed at helping passive investors access a larger portfolio of cryptocurrencies.

Reef Baskets V1 is described as an “Ethereum-based framework for deploying DeFi token collections” and other crypto assets. It works the same way as exchange-traded funds, or ETFs, which are popular among traditional investors and institutional managers.

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Investors who use Reef Baskets have the option of investing in multiple DeFi token baskets at the same time. Reef Finance describes its baskets as a “quantitative approach to yield farming” that narrows down an investor’s decision space to just two factors: how much money they are willing to invest and how much risk they are willing to take. assume.

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The initial version of Reef Baskets is available on Ethereum, with an upcoming release planned for the Polkadot-based Reef channel.

CEO Denko mancheki believes Reef Baskets is 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 perfect tool for the passive investor who may not want to spend the time researching and managing their own token portfolio. […] Choosing the winner is objectively difficult in DeFi, and Reef Baskets combined with the Smart Engine simplifies the investment process. “

Decentralized finance remains one of the hottest verticals in the blockchain industry. There are currently 274 cryptocurrencies listed in CoinMarketCap’s DeFi category, a figure that is likely to increase significantly this year as more projects go live. The market capitalization of existing DeFi projects is valued at just over $ 98 billion.

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Reef Finance made headlines last month after receiving $ 20 million in strategic investments from Alameda Research. The purchase gave Alameda around 528 million REEF tokens.