Popular blockchain network, Rei has collaborated with Evadore, a Regenerative Finance project. The network confirmed the collaboration on Thursday via a post on its official X (formerly Twitter) page. As announced, the partners will focus on working together to introduce era-defining projects.
In a separate post, Evadore confirmed the collaboration with Rei Network. In its post, the project described the network as a gas-free blockchain framework. More so, Evadore stated that the blockchain satisfies its standard of solving global environmental challenges. Furthermore, the project indicated that it will work closely with the network to usher in a sustainable era in the near future.
It is worth mentioning that Rei Network has matured into one of the most attractive blockchains for emerging projects. This is due to how the network’s infrastructure offers a robust support system for emerging projects. Meanwhile, the collaboration with Evadore comes shortly after the network partnered with Determinant Finance, a fast-growing DeFi project.
According to a post confirming the collaboration, Rei Network will support its new partner in eradicating existing challenges in today’s crypto market. Also, the partners will focus on improving users’ overall experience in the DeFi landscape. It is worth mentioning that the blockchain network is still struggling to find its feet in the DeFi sphere.
Presently, the network is home to three (3)) DeFi projects excluding Determinant Finance. According to DeFiLlama, the Total Value Locked (TVL) on Rei Network is $11,605. However, the exodus of new projects like Evadore and Determinant to Rei is likely to improve the popularity and adoption of the network.
How Rei Network is Gradually Gaining Momentum After FilDA Hack
The recent exodus of projects to the network indicates how Rei has recovered fully from the setback it suffered in April 2024. Then, FilDA, a lending protocol on the network suffered a cyber attack that claimed $700,000 worth of various crypto assets. The news affected the reputation of the network, putting it in the bad light of the media as questions intensified about the security of the blockchain.
Additionally, the project seems to have overcome the hurdles that came with the attack on FilDa. Despite the attack then, projects still trust the security efficiency of Rei. Recall that in July, a few months after the attack on FilDA, Rei Network partnered with Cyber City to onboard more users into the Metaverse. Ever since the network has gone from strength to strength and has established itself as one of the promising blockchains in the industry.