Reef Finance, a decentralized financial system supported by Polkadot, has released a new investment product designed to help passive investors access a broader portfolio of cryptocurrencies.

Reef Baskets V1 is described as an “Ethereum-based platform for distributing combinations of DeFi tokens” and other cryptocurrencies. They work in the same way as ETFs that are popular with traditional investors and institutional leaders.

Investors using Reef Baskets have the opportunity to invest in several different DeFi baskets at the same time. Reef Finance describes its curves as a “quantitative approach to crop production” that reduces the investor’s decision-making position to two factors: how much money they want to invest and how much risk they are willing to take.

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

Reef Finance CEO Denko Mancheski believes Reef Baskets represents a viable alternative for investors who do not have time to find out about hundreds of new DeFi projects coming to market. To explain:

“Reef Baskets is the perfect tool for the passive investor who may not want to spend time finding and organizing their own wallet. […] Choosing a winner in DeFi is objectively difficult, and Reef Baskets, together with a smart engine, simplifies the investment process. ”
Decentralized finance remains one of the most important sectors in the blockchain industry. There are currently 274 cryptocurrencies listed in the DeFi category on CoinMarketCap, and that number is likely to grow exponentially this year as new projects emerge on the network. The market value of current DeFi projects is just over $ 98 billion.

Reef Finance made headlines in March after receiving a $ 20 million strategic investment from Alameda Research. This acquisition gave Alameda approximately 528 million REEF tokens.

Source: CoinTelegraph