Knit Finance Next Gen Defi (Decentralized Finance)
KnitFinance is a unique decentralized protocol that combines synthetics across multiple chains, Bridges and real-world markets with yield, lending, trading and margin services via smart contracts. It also provides cross-chain liquidity aggregation in a 100% fully transparent verifiable manner. Community-led initiatives.
KNIT.Finance is the next generation of DeFi protocol which aims to bridge multiple non-Ethereum chains with ERC20 in Phase 1. Any lockable digital asset can be exploited with KNIT.Finance by generating synthetic tokens equivalent in 1: 1 ratio, hence unlocking billions of dollars and access to trade that could prove censorship.
Anything that is decentralized must be available to anyone and everyone. But DeFi currently relies mostly on the ERC-20 token. The ERC-20 standard has proven to be the main choice for decentralizing lending, lending, and agricultural yields, etc. However, this ignores the participation of other assets from the independent blockchain. This asset and their vendors have a huge barrier to getting into DeFi. KNIT.finance solves this problem in one fell swoop.
KNIT.Finance opens up the entire crypto ecosystem to DeFi using synthetics and cross-chain bridges. The existing DeFi protocol determines which tokens and projects can participate. KNIT Finance’s decentralized protocol leverages smart contracts to combine DeFi pools with billions of assets from non-ERC-20 chains. By setting the standard for non-ERC-20 coins to be converted into synthetic ERC-20 tokens, KNIT Finance opens up a whole world of new possibilities.
Any coin or token on any blockchain can be converted into a synthetic token equivalent to the ERC-20 format. Native tokens and synthesized tokens will represent each other in a 1: 1 ratio.In contrast, with KNIT, ERC-20 tokens can also be synthesized on other blockchains at a 1: 1 ratio. stocks can be synthesized using KNIT Finance.
The Protocol You Deserve
Are you a non-ERC-20 token holder? How many times have you felt the need to convert your holdings into ERC-20 tokens to participate in DeFi? Being crypto enthusiasts and traders ourselves, that is one of the main obstacles we face. We believe in embracing multiple cryptos from multiple chains and not just one. We also believe in DeFi. But the two ideals never seemed meant for each other. So, we came up with a unique decentralized protocol that helped us and the crypto community to enter DeFi without ever leaving our holdings – the multi-chain bridge to DeFi.
features
1. Each Coin
For every coin hawker, we provide the option to trade and take advantage of their coins in the DeFi room. Coins (For example: LTC) that were previously outside the scope of DeFi will now have full access to all DeFi features.
2. The flexibility of the ERC-20 standard
The ERC-20 standard is known to be flexible, has the highest transferability and accessibility with the second largest blockchain network in the world. Every coin now has the opportunity to take advantage of Ethereum’s flexibility.
3. Global Liquidity Pool
A global liquidity pool is opened for Ethereum and vice versa.
4. Aset Read-World
Stocks, Gold and Fiat can be synthesized for trading on Decentralized Exchanges, which essentially decentralize centralized assets, giving traders more power.
5. Community Driven
100% governance of this token will be done through the community.
6. DAPP
DAPP can now access tokens on other blockchains using only their Ethereum nodes via the KNIT synthetic token. They can also accept payments in this token.
Why Choose KNIT Finance?
Lend, Trade and Yield Farm with Any Asset
Knit.Finance creates tremendous opportunities for altcoin and Ethereum DeFi. The protocol feeds new assets into the highly liquid Ethereum network and allows them to be linked to opportunities to produce existing results.
Cross-Chain Bridges for Maximum Interoperability
Knit.Finance has created a proprietary bridge for transferring altcoins to the Ethereum network. This wrapped token is a unique form of synthetic asset that is supported 1: 1 by the altcoin represented.
Take advantage of the physical world with digital assets
Knit.Finance provides synthetic assets for exposure to physical world assets, providing new opportunities for portfolio diversification within Ethereum DeFi. Knit supports commodities, equities and fiat.
Token Economy and token usage
Attack
Knit.Finance stands at the forefront of interoperability by allowing altcoins to be transferred to Ethereum DeFi in a single UI.
Pay the fee
Knit.Finance makes equities, commodities and fiat accessible within Ethereum DeFi, allowing greater asset exposure to the crypto community.
Protocol governance
Knit.Finance makes equities, commodities and fiat accessible within Ethereum DeFi, allowing greater asset exposure to the crypto community.ConclusionIn short, after several days of analyzing and learning about KNIT. Finance, I found this to be a good and interesting project, with a strong team with a lot of experience in this area. I firmly believe that this project will be a success in the future. Take a moment and take a look at this incredible project. A well-organized team can implement the concept. I like their approach, I’m sure they’ll make some great crypto returns.
Learn more:
Website: https://knit.finance/
Media: https://knitfinance.medium.com/
Telegram: https://t.me/knitfinance
Twitter: https://twitter.com/KnitFinance
Facebook: https://www.facebook.com/KnitFinance-106586011273309
Linkedin: https://www.linkedin.com/company/knitfinance
by ; Mbelitar
link: : https://bitcointalk.org/index.php?action=profile;u=3198654
# Knit # KnitFinance # CS # Blockchain # Cryptoqurrency
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