Review KNIT Finance is revolutionizing DeFi, one bridge at a time

Introduction

Cryptocurrency was originally known as a payment system that allows people to be able to make transactions quickly, without third parties, in a transparent, secure and anonymous manner. Satoshi, who was the creator of Bitcoin, the first popular cryptocurrency, made Bitcoin beat a centralized financial system that was prone to manipulation and was controlled by one party. With the growth and development of the Crypto / blockchain ecosystem, a number of alternative investment options have emerged, and have proven to be more efficient and profitable investment tools than traditional financial returns. Innovative projects consistently emerge in the crypto industry with high returns and sustainable trends, such as the DEFI Program. currently there is a new investment trend besides ICO, IEO, ITO etc. if you don’t know what is Defi ?? DeFi is an innovation that was born to ensure that all financial services can be realized on the blockchain network in a decentralized, transparent and reliable way, without intermediaries such as decentralized financial banks, payment service providers, or no third parties. and this time I want to tell you about the Defi project, such as the KNIT FINANCE Project. KNIT FINANCE has various unique features, a reliable team, great partners, and of course this will attract big market investment because KNIT FINANCE is truly one of the promising projects. so let’s just discuss about this project.

About KNIT Finance

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. 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.

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

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.

2. 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.

3. Global Liquidity Pool

A global liquidity pool is being opened to Ethereum and vice versa.

4. 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.

5. Community-Driven

100% governance of these tokens will be through the community.

6. 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.

KNIT is revolutionizing DeFi, one bridge at a time. If you want to know more about our project or talk about a collaboration, visit https://knit.finance

For more information, please visit:

Website: https://knit.finance/
Medium: 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

Profile  :

bitcointalk username : Ainulyaqin

bitcoin talk url : https://bitcointalk.org/index.php?action=profile;u=2787764

ETH : 0x1B7BE3cdd815FAf96a141D1FCABfFFc66D8cE36a