Reef Chain is an EVM compatible chain for DeFi with NPoS/PoC consensus. It is fast and scalable, with low transaction costs, and prevents wasteful mining. It is built on Polkadot Substrate.
The REEF token is the native currency on the Reef chain and is used for transaction fees (gas) and on-chain governance (NPoS and PoC). REEF tokens are also available on Ethereum and BSC networks and can be converted 1:1 with native Reef Finance chain tokens. Deployment fees and transaction fees for smart contracts are burned.

REEF is a project created to facilitate the flow of liquidity within decentralized finance protocols, promising a simple process that transforms complex processes for liquidity flow into more usable ones.
There are two main ways to start using REEF. If you are a developer, you can deploy your DeFi project on REEF. You can also stake and participate in REEF governance.
The Reef chain is built with upgradeability and long-term sustainable governance in mind. Governance responsibility is divided into two groups:

Validators are selected through NPoS by nominators. At the end of each block production cycle, Phragmén elections are held.
Validators and nominators are paid from the annual inflation (the current target average rate is 6.25%). Nominators receive a portion of the income share of the validators they vote for, but both validators and nominators are penalized if validators act improperly (if offline or suspicious).
Nominators secure the Reef chain by selecting good validators and staking REEF.
You can have an account in REEF and might want to earn new REEF. You can do this by being a validator, which requires a node running 24/7. If you don't have such a node or don't want to deal with it, you can still earn REEF by nominating one or more validators.

By doing this, you nominate yourself for the validators you choose. At this point, it is important to carefully select validators because there is a risk of losing REEFs, but if they comply with the network's rules, you can share in the stake rewards they produce.
Your REEF is 'locked' when staked by nominating a validator. You can receive new REEF to your account but cannot stake as a validator or transfer REEF from your account to someone else. You can cancel the nomination at any time if you want to stop staking your funds. In Reef, there is a 28-day bonding period before the bonded funds can be transferred after an unbonding transaction.

REEF, a mineable coin, has a maximum supply of 20,000,000,000 units. Of these, 13,709,721,016 units are in circulation.