panjilaras: KNIT FINANCE PROJECT

KNIT FINANCE - Unlocking Full Potential of DeFi Using Cross Chain Synthetics and Bridges.

About KNIT FINANCE

Unlocking Full Potential of DeFi Using Cross Chain Synthetics and Bridges.

KnitFinance is an unique decentralized protocol that combines synthetics across multiple chains, Bridges, and real world markets with yield, lend, trade and margin services through smart contracts

#KnitDeFi Unlocking full potential and easy access to #DeFi

What is KnitFinance

KnitFinance bridges multiple non-Ethereum chains with wrapped tokens. Any asset can be leveraged within Ethereum DeFi and implemented into liquid lending and trading.

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.

The Protocol That You Deserve

Are you a holder of a non-ERC-20 token? How many times have you felt the need to convert your holdings to an ERC-20 token to participate in DeFi? Being crypto enthusiasts and traders ourselves, it is one of the major roadblocks that we faced. We believe in hodling multiple crypto from multiple chains and not just one. We also believe in DeFi. But the two ideals seemed like they were never meant for each other. So, we came up with a unique decentralized protocol that helps us and the crypto community to enter DeFi without having to forsake our holdings — a multi-chain bridge to DeFi.

Features

For 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.

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.

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.

One Solution Fits All

Cross-Chain

Knit.Finance stands at the forefront of interoperability by enabling altcoins to be ported to Ethereum DeFi within a single UI.

Synthetic Assets

Knit.Finance makes equities, commodities, and fiat accessible within Ethereum DeFi, enabling greater asset exposure to the crypto community.

Token Economics and token uses

Staking

Knit.Finance stands at the forefront of interoperability by enabling altcoins to be ported to Ethereum DeFi within a single UI.

Pay for fees

Knit.Finance makes equities, commodities, and fiat accessible within Ethereum DeFi, enabling greater asset exposure to the crypto community.

Protocol governance

Knit.Finance makes equities, commodities, and fiat accessible within Ethereum DeFi, enabling greater asset exposure to the crypto community.

We're pleased to announce our Partnership with @Nuls

#Nuls will use #KnitDeFi multi-chain solution for getting NULS tokens on multiple chains.

The Partnership Entails

Knit Finance gives $NULS holders the ability to use the token as a payment instrument in their marketplace.

Nuls will use KnitFinance’s multi-chain solution for getting NULS tokens on multiple chains.

Knit Finance

A unique decentralized system unlocking the full Potential of DeFi using cross-chain synthetix and bridge, a protocol that combines synthetics across multiple chains, bridges, and real-world markets with yield, lend, trade, and margin services through smart contracts.

Knit Finance bridges multiple non-Ethereum chains with ERC20 in Phase 1. Any digital, lockable asset can be leveraged with KNIT.Finance by generating equivalent synthetix tokens in a 1:1 ratio, hence unlocking billions of dollars and trade access which can be censor proof.

Nuls

NULS is an open-source, enterprise-grade, adaptive blockchain platform that offers fast-track business solutions for developers. Featuring microservices, smart contracts, cross-chain interoperability, and instant chain-building, NULS sets a new industry standard in streamlining blockchain adoption.

The microservice-layer design of NULS makes it easy for developers to quickly create modules for anything. NULS provides fluid, cost-effective, time-saving solutions for developers with minimum blockchain experience.

Knit Finance Partners With API3 to Expand the Scope of Multi-chain Assets using on data feeds

API3 powers the creation of decentralized applications with Airnode-enabled APIs and decentrally governed dAPIs (data feeds), with users being insured against data feed malfunctions.

Through this partnership, Knit Finance users can use this data to program wrapped token ERC-20 versions of any digital, lockable asset that can be lent, borrowed, margin traded, yield farmed. By wrapping stocks, gold, and even fiat, these real-world assets can be brought into the DeFi ecosystem.

Read more about our partnership here: cutt.ly/Ex7HhC7