Unlocking Full Potential of DeFi | Using Cross Chain Synthetics and Bridges.
Knit finance is a unique decentralized platform that strives to be the number one platform to unlock the full potential of defi system using decentralized cross-chain synthetics and bridges.in simple terms, Knit finance is all about investing, staking, lending, and exchange cryptocurrencies.
BUT FIRST, WHAT IS CRYPTOCURRENCY?
Cryptocurrency is a form of payment that can be exchanged online for goods and services. Many companies have issued their own currencies, often called tokens, and these can be traded specifically for the good or service that the company provides. Think of them as you would arcade tokens or casino chips. You’ll need to exchange real currency for the cryptocurrency to access the good or service.
Cryptocurrencies work using a technology called blockchain. Blockchain is a decentralized technology spread across many computers that manages and records transactions. Part of the appeal of this technology is its security. Offering friction-less transactions and inflation control, investors have been prudent enough to add these currencies in their diversified portfolios as an asset, as the size of the market does not represent a systemic risk. Cryptocurrency employs the use of cryptography that assures high-security processes and verifies transactions personal to each user. Counterfeiting and anonymous transactions are impossible to achieve.
INTRODUCING KNIT FINANCE
KNIT FINANCE is a unique decentralized protocol that mixes multi-chain aggregation, Bridge market and world with yield, land, trade and escrow services through smart contracts. This also allows for cross-chain liquidity aggregation with 100% fully verifiable transparency. It’s known that subsequent generation of the DeFi protocol aims to attach multiple non-Ethereum chains to ERC20 in Phase 1. Any digital, lockable asset are often leveraged with KNIT to unlock billions of dollars and commercial access are often proof of censorship. KNIT Finance provides the facility of non-ethereum tokens with the flexibility of ERC20 tokens. Aggregate assets represents any crypto asset or real-world entity and are easily accessible and transferable. KNIT Finance allows you to convert a coin to the same ERC20 synthetic asset. Likewise, any ERC20 token are often aggregated on another blockchain. Real-world entities like gold, stocks, and even paper money are often attached to those assets.
KNIT FINANCE engraving will help simplify decentralized trade and DAPP payments. Coins that are restricted to centralized exchanges can now be traded on DEXs. ERC20 nodes are enough for DAPP to process transactions of varied currencies and accept payments in these currencies.
Advantages KNIT Finance
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.
Lend, Trade and Yield Farm with Any Asset
Knit.Finance creates tremendous opportunities for altcoin and Ethereum DeFi. The protocol feeds new assets into the highly liquid Ethereum network and allows them to be linked to opportunities to produce existing results.
Ethereum DeFi is growing and altcoins are generating new utilities.
Cross-Chain Bridges for Maximum Interoperability
Knit.Finance has created a proprietary bridge for transferring altcoins to the Ethereum network. This wrapped token is a unique form of synthetic asset that is supported 1: 1 by the altcoin represented
Take advantage of the physical world with digital assets
Knit.Finance provides synthetic assets for exposure to physical world assets, providing new opportunities for portfolio diversification within Ethereum DeFi. Knit supports commodities, equities and fiat.
For more information, please visit any of the following official links below
Official website: https://knit.finance/
Telegram: https://t.me/knitfinance
Linkedin: https://www.linkedin.com/company/knitfinance/
Twitter: https://twitter.com/KnitFinance
Medium: https://knitfinance.medium.com/
Facebook: https://www.facebook.com/KnitFinance/
Author's Information:
Bitcointalk Username: TosinDavid
Bitcointalk Profile link: https://bitcointalk.org/index.php?action=profile;u=1180815
ETH Wallet Address: 0xCcb98E6AF2B1DBe621fbac6b48e6E98811Fe1243