KNIT FINANCE

 

ECOSYSTEM DEFI USING CROSS-CHAIN

INTRODUCING

Blockchain technology has proven its strength in the midst of a failed financial order and a thin stretch of the medical sector. The technology’s growing appeal stems from its innovative approach to recurring problems across many industries. In the financial context, we have seen the consolidation of digital assets and legacy systems, spawning the central bank’s digital currency and other blockchain-enabled banking operations. . Hence, there is no doubt that blockchain technology and cryptocurrencies will exist here. One of them is the periodic latency problem of established blockchain networks like Bitcoin and Ethereum. In particular, the latter plays an important role in the development and establishment of blockchain applications. Also, it’s not as simple to use as the average user would expect. There is an undesirable level of complexity associated with the development and use of blockchain infrastructure and related applications. And I firmly believe that those who participate and are learning about this market will feel that this market is showing great attraction, and in this article I will bring to you a quality project quality and promising in the future. I have tested and found that this product is completely safe and legal. And nowhere else is KNIT FINANCE, a project that unleashes DeFi’s full potential by bridging and synthesizing cross-chain.

ABOUT

KnitFinance is an unique decentralized protocol that combines synthetics across multiple chains, Bridges, and real world markets with yield, lend, trade and margin services through smart contracts. This also gives cross chain liquidity aggregation in a Completely transparent 100% verifiable. Community led initiative.

KNIT.Finance is the next generation of DeFi protocol that aims to bridge multiple non-Ethereum chains with ERC20 in Phase 1. Any digital, lockable asset can be leveraged with KNIT.Finance by generating equivalent synthetic tokens in a 1:1 ratio, hence unlocking billions of dollars and trade access which can be censor proof.

Anything decentralized should be available to anyone and everyone. But DeFi today is predominantly dependent on ERC-20 tokens. ERC-20 standard has proven to be the go-to for decentralized lending, borrowing, and yield farming, etc. However, this leaves out the participation of other assets of independent blockchains. These assets and their hodlers have a huge barrier to entry into DeFi. KNIT.finance solves this problem in one fell swoop.

KNIT.Finance unlocks the entire crypto ecosystem to DeFi using cross-chain synthetics and bridges. Existing DeFi protocols determine which tokens and projects get to participate. KNIT Finance’s decentralized protocol leverages smart contracts to combine DeFi pools with billions of assets from non-ERC-20 chains. By creating a standard for non-ERC-20 coins to convert to synthetic ERC-20 tokens, KNIT Finance opens up an entire world of new possibilities.

Any coin or token on any blockchain could be converted to an equivalent synthetic token of the ERC-20 format. The original token and the synthesized token will represent each other in a 1:1 ratio. On the contrary, with KNIT, ERC-20 tokens could also be synthesized on other blockchains in a 1:1 ratio. In addition to cryptocurrencies, real-world assets such as fiat, gold, and stocks can be synthesized using KNIT Finance.

THE PROTOCOL THAT YOU DESERVE

Are you a holder of a non-ERC-20 token? How many times have you felt the need to convert your holdings to an ERC-20 token to participate in DeFi? Being crypto enthusiasts and traders ourselves, it is one of the major roadblocks that we faced. We believe in hodling multiple crypto from multiple chains and not just one. We also believe in DeFi. But the two ideals seemed like they were never meant for each other. So, we came up with a unique decentralized protocol that helps us and the crypto community to enter DeFi without having to forsake our holdings — a multi-chain bridge to DeFi.

FEATURES

1. Every Coin

For every coin hodler, we provide an option to trade and leverage their coins in the DeFi space. Coins (E.g.: LTC) that were previously out of DeFi’s scope will now have complete access to all of DeFi’s features.

2. Flexibility of ERC-20 standard

ERC-20 standard is known to be flexible, possessing the highest transferability and accessibility with the world’s second-largest blockchain network. Every coin now has the opportunity to leverage Ethereum’s flexibility.

3. Global Liquidity Pool

A global liquidity pool is being opened to Ethereum and vice versa.

4. Read-World Assets

Stocks, Gold, and Fiat can be synthesized to trade on Decentralized Exchanges, essentially decentralizing centralized assets, giving more power to the trader.

5. Community-Driven

100% governance of these tokens will be through the community.

6. DAPPs

DAPPs can now access tokens on other blockchains using only their Ethereum nodes via KNIT’s synthetic tokens. They can also receive payments in these tokens.

WHY CHOOSE KNIT FINANCE?

Lend, Trade, and Yield Farm with Any Asset

Knit.Finance creates incredible opportunities for both altcoins and Ethereum DeFi. The protocol onboards new assets to the highly liquid Ethereum network and allows them to be plugged into existing yield generating opportunities.

Cross-Chain Bridges for Maximum Interoperability

Knit.Finance has created proprietary bridges to port altcoins on to the Ethereum network. These wrapped tokens are unique form of synthetic asset that is backed 1:1 by the represented altcoin.

Tap into the Physical World with Digital Assets

Knit.Finance provides synthetic assets for exposure to physical world assets, providing a novel opportunity for portfolio diversification within Ethereum DeFi. Knit supports commodities, equities, and fiat.

TOKEN ECONOMICS AND TOKEN USES

Staking

Knit.Finance stands at the forefront of interoperability by enabling altcoins to be ported to Ethereum DeFi within a single UI.

Pay for fees

Knit.Finance makes equities, commodities, and fiat accessible within Ethereum DeFi, enabling greater asset exposure to the crypto community.

Protocol governance

Knit.Finance makes equities, commodities, and fiat accessible within Ethereum DeFi, enabling greater asset exposure to the crypto community.

FOR MORE INFORMATION CLICK LINKS BELLOW: 

• Website: https://knit.finance/
• Telegram: http://t.me/knitfinance
• Facebook: https://www.facebook.com/KnitFinance-106586011273309
• Twitter: http://t.me/knitfinance

Author: Batu permata

My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=1875984

ETH Address: 0xA5d3c9288F1C6A4a9D1298456DBCcDf9e2811896