1. INTRODUCE ABOUT KNIT FINANCE:
Hi guys, welcome back to my blog. Today, I will introduce to you an amazing project, the project made me think that it will be the new hidden gems in crypto. That's is Knit Finance
What exactly is KNIT Finance?
Knit Finance is a decentralized protocol that incorporates synthetics from various chains, Bridges, and real-world exchanges with smart contracts for yield, lending, investing, and margin. It also offers cross-chain liquidity aggregation that is fully straightforward and verifiable. Initiatives spearheaded by the community.
Knit Finance is the next generation of the Defi protocol, which in Phase 1 aims to link several non-Ethereum chains with ERC20. Any lockable digital asset can be leveraged with KNIT. Finance by developing synthetic tokens equal in a 1:1 ratio, thereby unlocking billions of dollars and trading access that can be used to prove censorship.
All decentralized must be accessible to everyone at any time. However, DeFi is actually reliant on the ERC-20 token. The ERC-20 norm has proved to be the most popular alternative for decentralizing lending, agricultural yields, and other applications. This, however, lacks the involvement of other properties from a separate blockchain. This commodity, as well as their vendors, face a significant barrier to entry into DeFi. KNIT.finance takes care of this issue in one fell swoop.
KNIT Finance uses synthetics and cross-chain bridges to allow DeFi through the entire crypto ecosystem. What tokens and projects are allowed to participate in is determined by the current DeFi protocol. KNIT Finance's decentralized protocol combines DeFi pools with billions of funds from non-ERC-20 chains using smart contracts. KNIT Finance opens up a whole new world of possibility by establishing the standard for non-ERC-20 coins to be turned into synthetic ERC-20 tokens.
Any coin or token on any blockchain may be turned into an ERC-20-compliant synthetic token. Native tokens and synthesized tokens would have a 1:1 ratio of representation. ERC-20 coins, on the other hand, can be synthesized 1:1 on other blockchains with KNIT. KNIT Finance may be used to create real-world assets such as fiat, copper, and securities in addition to cryptocurrencies.
Why do you go for KNIT Finance?
With Any Asset, Lend, Trade, and Yield Farm. Knit Finance opens up a lot of doors for altcoins and Ethereum DeFi. The protocol enables additional assets to be added to the increasingly liquid Ethereum network and connected to current opportunities to deliver results.
Maximum Interoperability of Cross-Chain Bridges
Knit Finance has developed a patented bridge that allows altcoins to be transferred to the Ethereum network. This bundled token is a one-of-a-kind synthetic commodity-backed 1:1 by the altcoin it represents.
Make the most of the real world by using digital properties.
Knit Finance creates synthetic assets that mimic real-world assets, opening up new avenues for portfolio diversification in Ethereum DeFi. Knit backs goods, stocks, and fiat currency.
KNIT Finance Tokenomics and Features.
- Every Coin
We provide an alternative for any coin holder to exchange and exploit their coins in the DeFi room. Coins that were formerly outside of DeFi's reach (for example, LTC) will now have full access to all of DeFi's functionality.
- The flexibility of ERC-20 standard
As the world's second-largest blockchain network, the ERC-20 protocol is recognized for being modular, with maximum transferability and usability. Any coin will now take advantage of Ethereum's versatility.
- Global Liquidity Pool
Ethereum would have access to a worldwide liquidity pool and vice versa.
- Read-World Assets
Stocks, gold, and fiat currency will all be synthesized and traded on Decentralized Exchanges, effectively decentralizing concentrated assets and allowing traders more influence.
100% governance of these tokens will be through the community.
DAPPs will now use KNIT's synthetic tokens to link tokens on other blockchains using only their Ethereum nodes. These tokens may also be used to make transfers.
2. A REVIEW ABOUT KNIT FINANCE TEAM:
- Knit Finance has a strong team:
The team of Knit Finance consists of the strongest technical skill members who have many years of experience in blockchain and technology companies. The development team of Knit Finance includes the most skilled members in management, technical, blockchain, music, marketing, IT, ... they have many years of experience in the areas in which they operate. The team is perfectly prepared to deliver an impeccable product to the global market.
- Knit Finance has a great idea, well-built documentations, and a website
The website at https://knit.finance/ Has a beautiful interface, eye-catching and easy to see, contains all necessary information about the purchase, exchange well as development director of the project. It shows the professionalism of the Knit Finance team in project operation.
Knit Finance plans to expand its operations globally. Because of its ability, transparency, reliability, and capabilities, I believe Knit Finance will have a good foothold in exchanges in general and the crypto world in specific. Personally, I think this is an excellent idea. Knit Finance is commonly adopted by today's most famous cryptocurrency exchanges.
You can take closer to Knit Finance by a look at the following links:
Author : erwin_ibrahim