KNIT FINANCE :Unlocking DeFi's Full Potential
Good evening friends, see you again. this time I will make a very good and interesting article about KNIT FINANCE, and here is the review:
About KNIT 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 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.In addition to cryptocurrencies, real world assets such as fiat, gold and 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 (Ex: LTC) that were previously outside DeFi coverage 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.Asset 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.
KNIT is revolutionizing DeFi, one bridge at a time. If you want to know more about our project or talk about collaboration, visit https://knit.finance
For more information, please see some of the important links below:
WEBSITE :https://knit.finance/
MEDIUM :http://knitfinance.medium.com/
TWITTER :https://twitter.com/KnitFinance
FACEBOOK :https://www.facebook.com/KnitFinance-106586011273309
TELEGRAM :http://t.me/knitfinance
LINKEDIN :https://www.linkedin.com/company/knitfinance
Bitcointalk name :antoniey
Profile link :https: //bitcointalk.org/index.php? Action = profile; u = 3122837
ETH address :0xd059e737f249D12E4Fad7eE3850c3b05143d0Db1