Reef Finance: “$REEF is now visible in Moonlight”

Reef Finance announced last Monday, October 11, through its Twitter account, that $REEF is now visible on Moonlight Token. According to the company, this Binance Smart Chain analysis tool helps illuminate the complexities of token and wallet transactions that would otherwise be difficult to discern.

Image on Reef Finance’s Twitter post

“Reef Finance is pleased to share that Moonlight has added REEF BEP-20 (Binance Smart Chain) to its Bubble Maps product”, he said through an article posted on the Medium platform.

The company explained that Moonlight is a tool provider on Binance Smart Chain (BSC). Earlier this year, Moonlight introduced Bubble Maps as an innovative way to explore tokens in BSC. By opening a token’s bubble map, users can reveal connections between wallets with just a quick glance. Instead of sophisticated users having to spend hours manually analyzing blockchain wallets and transactions, Bubble Maps analyzes and reorganizes BscScan data, illuminating the complexities of an otherwise invisible token.

According to the company, Moonlight has four rules for displaying and displaying raw BSC transaction data:

• Each bubble represents a single wallet

• Only the top 150 wallets are loaded

• The size of a bubble is proportional to its share of token holdings.

• Two bubbles are connected if there was at least one historical transaction between the corresponding portfolios in REEF

“As you can see, the bubble map for REEF’s BEP-20 token contains very few connections between wallets. This is an important indicator that can be used to assess whether there is a large amount of collusion or laundering trade. The REEF bubble map illustrates the opposite, where only a handful of wallets have traded REEF directly on BSC. The largest wallet on display is Binance, which currently owns most of the REEF BEP-20 supply”, he said.

Also read: Chick Labs has joined Chainlink VRF

About Reef Finance

Reef Finance is building Reef Chain, a DeFi blockchain built with Substrate Framework. Reef Chain provides high scalability, enabling near-instantaneous low-cost transactions and is compatible with Solidity and EVM, allowing developers to seamlessly migrate their DApps from Ethereum without any code base changes. Our vision is to make DeFi easy for everyone to invest in and build DeFi applications on top of Reef Chain.

1 comment

Comments are closed.

Related Posts