As the worth and price of the decentralized finance (DeFi) industry continues to grow, different crypto-firms are trying new ventures. There are many DeFi firms that are making a lot of investments in order to acquire new services and advantages in the crypto-industry.
They are doing this because the times in the cryptocurrency industry are currently high. So the more a firm tends to offer the users, the more promising it becomes and the more user-base it manages to acquire.
Alameda Research is one such firm that has been making a lot of investments in the cryptocurrency industry. Just recently, it was revealed that Alameda Research had made an investment in Oxygen, which is a famous decentralized finance (DeFi) protocol. After that, there were reports that Alameda Research had also made an investment in Maps.me, which is a famous travel application.
Now, there are news that Alameda Research is planning to make another huge investment. This time, it is going to be one of the decentralized platforms that is based on the Polkadot protocol. The sources have revealed that the name of the protocol is Reef Finance. The sources have also hinted that Alameda Research is planning to invest a whopping figure of $20 million in the decentralized firm.
It has been confirmed that the investment from Alameda Research would come in the form of purchasing Reef Finance’s native tokens. The name of the native tokens for Reef Finance is “REEF” and the price of each token the time of publishing is $0.03787.
The firm has announced that it is set to acquire 528 million REEF that would translate to a figure of $20 million.
Alameda Research has announced that with the investment, the firms are aiming to form a strong partnership and bond. This partnership would see both companies reach new heights in the cryptocurrency technologies and advancements sector.
The joint efforts of both companies would be to ensure that a safe, secure, profitable, and reliable strategy is worked out and built for the future of cryptocurrencies and decentralized finance (DeFi).