Knit Finance - Unlocking True Potential of Multi-chain DeFi

in #blockchain3 years ago

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Knit Finance creates conditions under which decentralized finance will become available to everyone without the need to perform complex manipulations. The popularity of using ERC-20 tokens is very high for lending, yield farming and borrowing, but this limits the use of assets on other blockchains. This is exactly the problem that Knit Finance solves with the help of its ideas and developments.

Opportunities Knit Finance is expanding DeFi to the entire crypto ecosystem with cross-chain synthetics and bridges. Knit Finance connects DeFi pools from non-ERC-20 chains using smart contracts. This is very important since such pools house billions of dollars in assets. This is implemented using a standard that converts coins from different blockchains into synthetic ERC-20 tokens. This is incredibly empowering in the DeFi space.

Thus, tokens from different blockchains are converted into synthetic tokens of ERC-20 format in a 1: 1 ratio, and this procedure works in reverse order when ERC-20 tokens are synthesized in other blockchains. Knit Finance also allows you to carry out this procedure for real assets such as gold, fiat money, stocks ...

For crypto users, the question of the need to convert their asset to the ERC-20 standard is very often raised in order to participate in DeFi, but this creates big problems. The solution to this was done through the creation of a unique decentralized protocol by Knit Finance that makes life easier for the entire crypto community when using DeFi.



  • For Every Coin. Everyone who will keep their coins will be able to trade them on the platform or use them in DeFi, as well as use coins that did not previously have access to the DeFi sphere will now have access to all the functions of the defi.
  • Flexibility of ERC-20 standard. Each coin will now receive all the capabilities and flexibility of the Ethereum blockchain.
  • Global Liquidity Pool.
  • Real-World Assets. Сan decentralize real assets such as gold, stocks, fiat by synthesizing them on the Ethereum blockchain and trading them on decentralized exchanges.
  • Community-Driven. The management will be 100% community controlled.
  • DAPPs. DAPPs will access tokens from different blockchains.





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The creation of such a project will greatly simplify and at the same time will expand the use of DeFi for people who will not be limited in the use of different blockchains and assets. Attracting even more investors with a variety of asset types will take DeFi to the next level with cross-chain wrapped assets.

Such solutions of Knit Finance also open up new opportunities in the crypto world and give a new impetus to the development of blockchain technologies. And it is these solutions that will become an impulse in the creation of even more innovative ideas. The conclusion of a large number of partnership agreements is a confirmation of this, since many have already seen in the ideas of Knit Finance great potential and opportunities in the field of DeFi, and, accordingly, the benefits of such a partnership.

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