Reef Finance integrates Raze Network for private DeFi transactions on Polkadot
Reef Finance, the builders of Reef Chain, a DeFi blockchain built using Substrate Framework, today announced its newest strategic integration with RAZE Network, a Substrate-based cross-chain privacy protocol for decentralized finance (DeFi) and Web 3.0.
Through this integration, Raze Network will implement its public-key homomorphic encryption to Reef Finance’s dApp ecosystem; allowing Reef’s users to remain confidential if they so choose.
In the canary version of the mainnet at the moment, the official Reef Chain mainnet is due to launch in the near future. Reef Chain is a customized blockchain that allows developers to build dApps or deploy existing projects from Ethereum.
Reef + Raze
The objective of Raze Network is to enable cross-chain privacy-preserving payment and trading systems; while protecting the transparency of user assets and behaviors from surveillance.
Raze Network is building a solution for end-to-end anonymity for the entire EVM-compatible DeFi and Web 3.0 stack; applying zkSNARKs to the Zether framework to build a layer-2 anonymous module.
Using the novel “one-out-of-many” proof to hide sender and receiver identities and zK proof schemes to guarantee payment consistency; Raze Network will power private, on-chain transactions for all of Reef’s DeFi users; and across the dozens of DeFi protocols already building on Reef Chain.
“We are absolutely honored to offer our privacy-preserving services to Reef in the future. We believe that providing DeFi & Web 3.0 users with an additional layer of security and anonymity is fundamental to the future of the space.”
Justin Kellerson, Project Lead at Raze Network