Overview of the KNIT.Finance project
About 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.
Blockchain is known to be the technology behind the world's most famous cryptocurrency system - Bitcoin. It can be said that as bitcoin becomes more popular in the financial market, it is causing fever in the tech world too. The number of companies that want to research and use blockchain is increasing, and the salary paid to blockchain engineers is also increasing. Every company wants to be one step ahead of its competitors and use technologies that represent the future of the world. Blockchain promises to fundamentally change people's lives not only on the internet but also in the real world, from finance to agriculture. But…
Blockchain problems
There are many other products that are also being introduced to apply blockchain technology, such as research, software, finance, logistics or data storage ... These are old problems, now there are solutions that need to be overcome. Has been studied for the application of blockchain technology. . However, is the blockchain application effective in those areas where blockchain has disadvantages, e.g. B. the inability to apply the computation depth due to the limitations of the current inseparable blockchain environment? This is because all computations in the current blockchain are iterated on all nodes and there is no actual external platform that can support computations in depth. Also, developers now have to use programming languages they are not familiar with, which leads to longer and less efficient work processes. Another factor to consider is the interoperability of blockchains. In particular, some blockchain projects are also considering the use of external platforms for calculation purposes. However, they cannot provide a flexible solution that their out-of-chain calculations are compatible with. On another blockchain platform, top developers can only create their dApp on a specific blockchain. This therefore makes it difficult to achieve the goal of blockchain adoption. The final problem is the consensus that top developers can only create their dApps on a specific blockchain. This therefore makes it difficult to achieve the goal of blockchain adoption. The last problem is the consensus that top developers can only create their dApps in a certain blockchain. This therefore makes it difficult to achieve the goal of blockchain adoption. The final problem is consensus
KIT.Finance Solutions
KnitFinance is a unique decentralized protocol that combines real-world multi-chain composites, bridges and markets with profitability, credit, trade and fiduciary services through smart contracts. It also allows liquidity to be summarized across chains with a 100% transparent review. Community-led initiative.
Everything decentralized should be available to everyone and everyone. Today, however, DeFi mainly relies on ERC-20 tokens. The ERC-20 standard has proven to be an ideal choice for decentralized lending, borrowing, farming, etc. However, the involvement of other independent blockchain assets is not taken into account. These assets and their guardians pose a huge barrier to entry for DeFi. KNIT.finance solved this problem in an error.
KNIT.Finance opens the entire cryptocurrency ecosystem for DeFi using cross-chain and bridging synthesis. Existing DeFi protocols define which tokens and which projects will participate. KNIT Finance's decentralized protocol uses smart contracts to pair the DeFi team with billions of non-ERC-20 asset chains. By creating a standard for non-ERC-20 coins to be converted into synthetic ERC-20 tokens, KNIT Finance is opening up a whole new world of possibilities.
Any coin or token on a blockchain can be converted into an equivalent synthetic ERC-20 token. Native tokens and aggregated tokens represent each other in a ratio of 1: 1. Conversely, ERC-20 tokens can also be aggregated on other blockchains on a 1: 1 scale with the help of KNIT. In addition to cryptocurrencies, there may be real assets aggregated with KNIT Finance such as fiat, gold, and stocks.
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.
Ethereum DeFi grows and altcoins generate new utilities.
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 Features KNIT Finance.
Token Economics and 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.
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.
Global Liquidity Pool
A global liquidity pool is being opened to Ethereum and vice versa.
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.
Community-Driven
100% governance of these tokens will be through the community.
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
Finally, KIT.Finance deserves our attention with its qualified team and innovative ideas in the blockchain area. The goals of this project are clearly explained using the plausible facts in order to develop a solution for the blockchain trio at negligible cost. If you are looking for a transparent blockchain project with full team support; KIT.Finance amazing and unique platform is your best choice. With a team of professional and experienced promoters, the project will exceed our expectations and will definitely take the leading position among companies in the same industry.
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.
For more information and resources about Knit Finance, visit:
Website: https://knit.finance/
Medium: https://knitfinance.medium.com/
Facebook: https://www.facebook.com/KnitFinance-106586011273309
Telegram: https://t.me/knitfinance
Linkedin: https://www.linkedin.com/company/knitfinance
Twitter: https://twitter.com/KnitFinance
Bounty Link: https://bitcointalk.org/index.php?topic=5324900.0
Author:
Bitcointalk Unsername: fireman2001
Bitcointalk Profile https://bitcointalk.org/index.php?action=profile;u=1759573