Relite Finance, a decentralized lending protocol, has announced the listing of its native RELI token on PancakeSwap, a superior DEX platform on Binance Smart Chain (BSC).
The Relite Finance team recently completed BSC bridge implementation using a smart contract, thereby enabling the launch of RELI/BNB. The bridge was long-anticipated and was marked as an important breakthrough on the road for Relite to become a revolutionary cross-chain lending protocol. Trading for the RELI/BNB pair went live on Monday, June 14.
Enlisting on PancakeSwap adds to the rapidly growing list of DEX platforms supported for $RELI token. On May 17, RELI finalized its Initial DEX Offering (IDO) and was listed on Uniswap. Since then, the RELI project team has been working towards ensuring RELI’s availability on more exchanges, inclusive of both centralized and DEX. The company plans to achieve these highlights during Q2-Q3 of 2021.
The CEO and founder of Relite Finance, George Groshkov, stressed the importance of the RELI-BSC protocol bridging and assured furthering of similar plans with other major exchange platforms.
He spoke saying:
“The BSC bridge was an important step we had to take for growing the upcoming platform’s level of accessibility. As the DeFi space grows rapidly, we couldn’t ignore the Binance Smart Chain community, standing behind the number of promising BSC-based projects. Now we are delighted to have BSC as a new protocol as another addition to our cross-chain functionality. The PancakeSwap listing we are celebrating today is the latest, but not the last RELI listing announcement you’ll hear about soon!”
Relite Finance enables users to lend, borrow and stake all crypto assets within a single application. The protocol is built on Polkadot multi-chain technology and it utilizes Polkadot’s Moonbeam Parachain, a special reserve fund module, and bridges. Relite’s objectives lie in creating interoperability with various blockchains including Bitcoin and Ethereum. Moreover, it aims at collateralizing NFTs with usability and fees that are superior to what is offered by other competing lending protocols.