KNIT Finance is opening up a whole new world of possibilities

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 is the creator of Bitcoin, made Bitcoin defeat a centralized financial system that is prone to manipulation and is controlled by one party. With the growth and development of the Crypto or 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 appear in the crypto industry with high return investments and continuous trends, such as KnitFinance is one project that will attract large market investments. Why? because this project aims to create a safe and decentralized working model. KnitFinance is the project you’ve been waiting for.

ABOUT KNIT FINANCE

Knit Finance is a 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.

What is 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, a project for the community

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. 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.

The ERC-20 standard has proven to be an ideal choice for decentralized lending, borrowing, farming, etc. However, the involvement of other independent blockchain assets is not taken into account. These assets and their guardians pose a huge barrier to entry for DeFi. KNIT.finance solved this problem in an error.

KNIT.Finance opens the entire cryptocurrency ecosystem for DeFi using cross-chain and bridging synthesis. Existing DeFi protocols define which tokens and which projects will participate. KNIT Finance's decentralized protocol uses smart contracts to pair the DeFi team with billions of non-ERC-20 asset 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 new world of possibilities.

Any coin or token on a blockchain can be converted into an equivalent synthetic ERC-20 token. Native tokens and aggregated tokens represent each other in a ratio of 1: 1. Conversely, ERC-20 tokens can also be aggregated on other blockchains on a 1: 1 scale with the help of KNIT. In addition to cryptocurrencies, there may be real assets aggregated with KNIT Finance such as fiat, gold, and stocks.

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

Partnership with Nuls

Knit Finance and Nuls partnership give Nuls holders the ability to use their $NULS as a payment instrument in their marketplace and also have access to multiple chains via Knit Finance infrastructure.

Nuls

NULS is an open-source, enterprise-grade, adaptive blockchain platform that offers fast-track business solutions for developers. Featuring microservices, smart contracts, cross-chain interoperability, and instant chain-building, NULS sets a new industry standard in streamlining blockchain adoption.

The microservice-layer design of NULS makes it easy for developers to quickly create modules for anything. NULS provides fluid, cost-effective, time-saving solutions for developers with minimum blockchain experience.

The Partnership Entails

Knit Finance gives $NULS holders the ability to use the token as a payment instrument in their marketplace.

Nuls will use KnitFinance’s multi-chain solution for getting NULS tokens on multiple chains.

Knit Finance Partnerships

Their vision is that decentralized finance (DeFi) would be available to all. Nonetheless, DeFi (decentralized account) is now multidimensional subject to ERC-20 tokens. This is a major barrier since the ERC-20 standard has proven to be the go-to for decentralized lending, investing, and yield farming, among other things. Currently, UNOS.finance is working with knit finance to resolve this hurdle. All can now overcome this problem by using Knit finance management. They'll look at how it's resolved and what gains can come from it at this stage.

Elrond and Knit Finance: Interoperable Synthetics

Crypto synthetics are virtual properties that preserve their fundamental nature, and the method of linking them is known as tokenization. This technology has impacted multiple industries, including real estate and finance. Consider a stock, land, cryptocurrency, or even fiat currency that has been tokenized in the same way that stablecoins have. Tokenization confers global supply, fractional control, investing, lending, smart contract locking, and ease of transition on these properties. Tokenization enables asset owners to connect with value through blockchain technologies that are currently available. Interactions are restricted to the blockchain upon which the asset is released. Knit Finance is now collaborating with Elrond to acquire new assets in the Crypto, Capital, and Bullion asset groups, as well as to allow tokenization.