How to buy native REEF Finance token in 2021
Reef Finance is a very promising Substrate Project within Polkadot Ecosystem which already has some interoperability with Ethereum EVM - yes, you can upload smart contracts and execute them for Reef. However buying actual native Reef will require some tweaking...
- You can't just buy native Reef token. You can purchase BEP20 (Binance Smart Chain) or ERC20 (Ethereum) version of Reef first. I would strongly recommend to go with Binance version because of super low gas fees comparing to Ethereum. There are plenty places to buy BEP20 Reef.
- In order to operate (send/convert) BEP20 Reef tokens you need BNB which powers Binance transactions. For gas purposes you need as little as $10-20.
- Klever wallet is the easiest solution to convert BEP20 Reef to native Reef token. Create account and send BEP20 Reef as well as a bit of BNB for transactions.
- Create native Substrate Reef account using PolkadotJS to receive the token. You can figure out things by starting from here.
- Input destination native Reef wallet address (which you created on step 4) and submit transaction.
- Voila!
Now you can... Well, for now stake Reef (even though not many validators plus their commission is HUGE - those which take less than 50% are over-stacked) and use it for transactions on deployed smart contracts.
Good luck on your Reefdventures