KNIT Finance
KNIT Finance: Unleash the full potential of DeFi
introduction
Since we all know that the advent of blockchain technology has changed the world faster and more, almost every industry in the world is applying the most advanced technology, namely blockchain technology. The advent of the blockchain has connected the financial industry in a more seamless and modern way. On the one hand, the cryptocurrency has grown significantly in recent years. These developments improve cryptocurrency and can be applied to more complex financial cases. In particular with the Knit Finance project, a transparent, unique and secure platform-based project, this project will of course make the world of cryptocurrency beautiful and bring huge profits to its users and investors.
and in this article I am going to introduce you to a high quality project that holds great promise in the future. I have tested and found this product to be completely safe and legal. And nowhere else is there KNIT FINANCE, a project that unlocks the full potential of DeFi by bridging and synthesizing cross-chain.
About KNIT Finance
KnitFinance is a unique decentralized protocol that combines plastics across multiple chains, bridges and real markets with smart contracts with yield, credit, trade and margin services. This also results in cross-chain liquidity aggregation in a completely transparent, 100% verifiable form. Community-led initiative.
KNIT. Finance is the next generation of the Defi Protocol, which aims to connect multiple non-Ethereum chains to ERC20 in Phase 1. Every digital, lockable asset can be used with KNIT. Fund by generating equivalent synthetic tokens in a 1: 1 ratio, unlocking billions of dollars and trading access, which can be censorship-proof.
Everything that is decentralized should be available to everyone. But today DeFi is mostly dependent on ERC-20 tokens. The ERC-20 standard has proven to be the go-to place for decentralized lending, borrowing, and productive farming, etc. However, this rules out the involvement of other independent blockchain assets. These assets and their hodlers create a huge barrier to accessing DeFi. KNIT.finance solves this problem in one fell swoop.
KNIT.Finance unlocks the entire crypto ecosystem with the help of cross-chain plastics and bridges for DeFi. Existing DeFi protocols determine which tokens and projects are allowed to participate. KNIT Finance's decentralized protocol uses 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 be converted into synthetic ERC-20 tokens, KNIT Finance is opening up a whole world of new opportunities.
Any coin or token on a blockchain can be converted to an equivalent synthetic token of the ERC-20 format. The original token and the synthesized token represent each other in a ratio of 1: 1. In contrast, KNIT ERC-20 tokens could also be used to synthesize on other block chains in a ratio of 1: 1. In addition to cryptocurrencies, real assets such as fiat, gold and stocks can also be synthesized with KNIT Finance.
characteristics
1. Any coin
We offer every coin dealer the opportunity to trade and use their coins in the DeFi area. Coins (e.g. LTC) that were previously outside the scope of DeFi now have full access to all DeFi functions.
2. Flexibility of the ERC-20 standard
The ERC-20 standard is known to be flexible and has the highest portability and accessibility with the second largest blockchain network in the world. Every coin now has the option to take advantage of the flexibility of Ethereum.
3. Global liquidity pool
A global liquidity pool is opened for Ethereum and vice versa.
4. Read World Assets
Stocks, gold, and fiat can be synthesized to trade on decentralized exchanges. In doing so, centralized assets are essentially decentralized, which gives the trader more power.
5. Community-driven
The community controls 100% of these tokens.
6. DAPPs
DAPPs can now only access tokens on other blockchains via the synthetic tokens from KNIT with their Ethereum nodes. You can also receive payments in these tokens.
Conclusion:
I researched the project thoroughly before presenting it to the community. Let me learn more about KNIT.Finance in my next articles. Many Thanks
information
Website: https://knit.finance/
Telegram: https://t.me/knitfinance
Facebook: https://www.facebook.com/KnitFinance-106586011273309
Linkedin: https://www.linkedin.com/company/ strickfinance
Twitter: https://twitter.com/KnitFinance
Medium: https://knitfinance.medium.com/
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