Knit Finance new project ecosystem Defi
Introduction
The development of technology is currently increasing rapidly. Especially in trading and exchange systems that have moved using blockchain technology. Since 2008 the emergence of blockchain has become a hot topic of conversation in many circles, coupled with the emergence of digital exchange media in the form of Cryptocurrency (digital currency). Cryptocurrency is becoming a new medium of exchange. Along with its development, many platforms continue to emerge by creating digital coins that use the blockchain system as a medium or market for all types of crypto around the world. And this time I want to present a project that has a bright future, namely the KNIT FINANCE Project. Of course, the presence of the KNIT FINANCE project can change everything, especially for investors and some of the partners involved in it. This project is very profitable for investment, so don’t ever waste this golden opportunity.
What is KNIT Finance
KnitFinance is a 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.
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 use
Features KNIT Finance
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.
Conclusion
So I have introduced the most general way about this project, all necessary information is complete in the article. Knowing that KNIT FINANCE is a great thing, the project has many interesting points and I think their products will definitely be well-received by users. In addition, the partnerships with KNIT FINANCE are also very good, KNIT FINANCE is running many programs to promote themselves and nothing promoting better than themselves must be an excellent and potential project and I found that KNIT FINANCE. Hopefully in the coming time KNIT FINANCE will publish more information related to the token, I firmly believe that many people are looking forward to this.
KNIT is revolutionizing DeFi, one bridge at a time. If you want to know more about our project or talk about a collaboration, visit https://knit.finance
For more information Knit finance, please visit:
Website: https://knit.finance/
Medium: https://knitfinance.medium.com/
Telegram: https://t.me/knitfinance
Twitter: https://twitter.com/KnitFinance
Facebook: https://www.facebook.com/KnitFinance-106586011273309
Comments
Post a Comment