Tokenomics

The total supply of all REEF tokens is currently at {{ info.total_supply }}. Below we specify how the REEF tokens were distributed within the Reef ecosystem.
Reef
3%

Binance Launchpool

3.5%

Lockup / Core nominators

20%

Community reserve fund

8%

Seed Round investors

9%

Strategic Sale Investors

6%

Private Sale Investors

16%

Team members

12.5%

Reef Foundation

22%

Liquidity / Ecosystem bootstrap reserves

Reef chain token

REEF is a utility token on the Reef network. Reef chain offers inflationary and deflationary mechanisms with a flexible supply of REEF tokens.
Reef chain offers unique features such as Reef NPoS (rewarding validators and nominators, i.e. staking) to ensure high ecosystem security and on-chain community governance. The Reef chain deflation model contains a fee-burning mechanism to keep the flexible supply of REEF in balance.
Reef chain integrates the best aspects of the most widely used blockchains while being fully compatible with smart contracts.

Total supply

Reef chain token does not have a fixed supply, however the target supply at launch was approx. 20 billion REEF. Reef chain's fee burn model is deflationary in nature, which should in principle offset the governance and running costs of the chain (rewards paid to nominators and validators).

Liquidity supply

(ERC-20, BEP20 and REEF20)

Reef tokens have been initially deployed on Ethereum and Binance Smart Chain. These tokens need to be convertible, so users can swap them for Reef chain native tokens and vice versa. In order to provide cross-chain swapping liquidity to exchanges and bridges, additional issuances have been made on all chains. These tokens should not be counted as total supply, because they are transient, triplicate tokens, that will be destroyed as more users converge onto Reef chain and the demand for swapping liquidity subsides. The full breakdown of per-chain issuance and liquidity bridge supply are available through the supply API.

Investors supply

The final batch of investors tokens is to be distributed on February 25th 2022. This supply is already included in total supply.

Reef fee burn statistics

All activity on Reef chain, such as minting or selling NFTs, trading tokens and transacting on chain has associated fees. The REEF tokens used for fees are continuously burned to offset validator rewards. The burn statistics are available in Reefscan.
Ticker REEF
Total supply 0
Private sale price 0.00125 USD
Strategic sale price 0.0009 USD
Seed sale price 0.0007 USD
NPoS Rewards Rate 8%
Staked supply 38.2%
Active validators 23
Active nominators 858

FAQ

What is Reef chain?
Reef chain is a smart contracts blockchain that is backwards-compatible with Ethereum EVM (and the Solidity programming language). Reef chain is however much more advanced than Ethereum, with its most notable features being runtime upgradability, on-chain governance and high throughput.
Does Reef token have utility?
REEF is the native currency on Reef chain, and is used for transaction fees (gas) and on-chain goverance (NPoS and PoC). All activity on Reef chain, such as minting or selling NFTs, trading tokens and transacting on chain has associated fees. The REEF tokens used for fees are continuously burned to offset inflation. People can stake their REEF tokens and participate in the governance process to earn rewards. It can also be utilized as collateral within Reef chain ecosystem.
How can I convert my ERC-20 into Reef chain native coins?
Unlike the Reef chain tokens, the legacy ERC-20 tokens cannot be used to participate in Reef chain ecosystem. Users of the ERC-20 token may want to convert their obsolete tokens for the Reef chain native tokens. The easiest way to do this is by depositing ERC-20 REEF onto Gate.io exchange, and withdrawing Reef chain native tokens into your Reef wallet.
How can I obtain Reef chain tokens?
Reef chain tokens can be purchased on exchanges such as Gate.io and Bitfinex.