KNIT FINANCE: STRENGTHENING DEFI WITH CROSS-CHAIN WRAPPED ASSETS

cryptowhitewalke (25)in #knitfinance • 3 years ago

With the development and advancement in blockchain and cryptocurrency technology, a number of remarkable investment alternatives have arisen and have demonstrated to be more productive and profitable investment instruments than the traditional financial instruments. great projects are steadily springing up in the blockchain and cryptocurrency ecosystem with an exceptional yield investments and consistent patterns. KnitFinance is one project that will pull in enormous market investments because the project plans to deploy a secure and decentralized working model.

INTRODUCING KNIT FINANCE AND ITS IDEA

KNIT Finance is DeFi product that is powering a platform that provides bridge for different non-Ethereum blockchain assets. Any digital lockable asset can be bridged with KNIT Finance by minting tokens on a 1:1 proportion, subsequently opening billions of dollars and exchange access.

DeFi today has become quite an overwhelmingly context with ERC-20 standard assets demonstrating to be the go-to for decentralized loaning, borrowing, and yield farming, In any case this leaves out the support of other assets of autonomous blockchains. These assets and their hodlers have an enormous barrier to passage into DeFi.

KNIT Finance opens the whole crypto ecosystem to DeFi by utilizing a cross-chain asset bridging technology. KNIT Finance protocol use smart contracts to combine DeFi pools with billions of assets from non-ERC-20 chains. By making a norm for non-ERC-20 coins and tokens to be minted as ERC-20 tokens, KNIT Finance opens up a whole universe of additional opportunities.

Any coin or token on any blockchain could be changed over to an identical ERC-20 version. The first token and the integrated token will address each other on a 1:1 proportion. Despite what is generally expected from KNIT Finance, ERC-20 tokens could likewise be incorporated on other blockchains in a 1:1 proportion and aside from digital assets, true assets like fiat, gold, and stocks can also be incorporated utilizing KNIT Finance.

WHY YOU SHOULD CONSIDER KNIT FINANCE TECHNOLOGY

KNIT Finance sets out an incredible open door for both altcoins and Ethereum DeFi. The protocol onboards new assets to the profoundly fluid Ethereum network and permits them to be connected to existing yield farming openings.
As Ethereum DeFi develops the more, it eventually leads to an improved utilities for the ERC-20 and non ERC-20 tokens. The cross-chain feature bridges for Maximum Interoperability which is something everyone is craving for today in the cryptocurrency ecosystem

KNIT Finance has made restrictive bridges to port altcoins on to the Ethereum network. These wrapped tokens are extraordinary type of manufactured asset that is backed 1:1 by the addressed altcoin
KNIT Finance empowers bridged assets with a decentralized and borderless feature, thus giving a novel chance to portfolio enhancement inside Ethereum DeFi. KNIT supports commodities, values, and fiat.

NOTABLE FEATURES OF KNIT FINANCE

Multi-Currency Support: Fоr еvеrу coin hodler, Knit Finance empowers them with аn alternative tо exchange аnd influence thеіr coins іn thе DeFi space. Coins thаt wеrе already оut оf DeFi's compatibility wіll nоw hаvе complete access tо аll оf DeFi's features and benefits.
Flexibility оf ERC-20 Protocol: ERC-20 protocol іѕ knоwn tо bе flexible and having thе most elevated transferability аnd accessibility wіth thе world's second-biggest blockchain network. Evеrу coin nоw hаѕ thе opportunity tо be influenced by Ethereum's flexibility.
Global Liquidity Pool: A global liquidity pool іѕ bеіng opened tо Ethereum аnd the other way around.
Peruse World Assets: Stocks, Gold, аnd Fiat саn bе orchestrated tо exchange оn decentralized exchanges, basically decentralizing unified assets and giving mоrе power tо thе merchant.
Community-Driven: 100% administration and management оf thеѕе tokens wіll bе thrоugh thе community of holders, traders and enthusiasts.
DAPPs: DAPPs саn nоw access tokens оn оthеr blockchains uѕіng оnlу thеіr Ethereum hubs vіа KNIT's engineered tokens. Thеу саn аlѕо get payments іn thеѕе tokens.

KNIT FINANCE TOKEN ECONOMY AND METRICS

PROJECT PARTNERS

KNIT FINANCE STRATEGIC INVESTORS

KNIT FINANCE TEAM

CONCLUSION

KNIT Finance is pure DeFi product that is powering a wide scale interoperability for both ERC-20 and other blockchain assets, this idea will allow for a seamless swapping of any blockchain assets into Ethereum blockchain through their uniques bridging technology. this is a great idea that will certainly open a wide door of DeFi posibilities to previously non-DeFi compatible blockchain assets. This is huge and deserves everyone looking into the idea for their own benefits.