Review Project KNIT.Finance

About :

Hello friends. Welcome to My Blog channel. I come from Vietnam, a very beautiful and friendly country. But this is also the country in which the cryptocurrency world has grown very strongly. Just like the previous articles I have introduced to you about many safe and reputable projects, today I will introduce you to projects that are rated for security level. That is Project KNIT.Finance

Invite readers to drink a delicious cup of coffee and listen and feel the details of KNIT.Finance that I treasure ..

First, let me find out what KNIT.Finance company is:

KnitFinance 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.

But KNIT.Finance was developed in 2020, which is a pretty bad year for the crypto market as a lot of companies have failed to raise capital without a lot of community-specific feedback. Moreover, domestic and foreign investors always have to aim for a high level of super profit:

Challenges facing the project:

1. Lack of capital mobilization
2. Lack of community support
3. Lack of development

Given that situation, the project team came up with an extremely effective solution that is Anything decentralized should be available to anyone and everyone. But DeFi today mainly depends on ERC-20 tokens. The ERC-20 standard has proven to be suitable for decentralized lending, borrowing and productivity farming, etc. However, this excludes the participation of other assets of independent blockchains. These assets and their tools of support pose a major barrier to joining DeFi. KNIT.finance solved this problem in one failure.

KNIT.Finance unlocks the entire crypto ecosystem to DeFi using cross-chain aggregation and bridge. Existing DeFi protocols determine which tokens and projects are involved. KNIT Finance's decentralized protocol leverages smart contracts to combine DeFi groups with billions of assets from non-ERC-20 chains. By creating a standard for non-ERC-20 coins for conversion into synthetic ERC-20 tokens, KNIT Finance opens up a whole new world of possibilities.

Any coin or token on any blockchain can be converted into an equivalent ERC-20 format token. Native tokens and aggregate tokens will represent each other in a 1: 1 ratio. In contrast, with KNIT, ERC-20 tokens can also be aggregated on other blockchains at a 1: 1 ratio. In addition to cryptocurrencies, real-world assets such as fiat, gold, and stocks can be aggregated using KNIT Finance.

Features

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.

KNIT.Finance Partner Elrond

Elrond's platform focuses on cross-chain composites to provide them for use cases including trading, lending, margin, and on-chain margin services.

By tokenizing assets, Knit Finance is activating a group of liquidity spanning multiple blockchains, as well as bringing DeFi into multiple chains, something so far only possible in Ethereum.Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.

Above are the very important project details that I learned about technology and features.

In the following, I will introduce activities aimed at strongly developing projects around the world

The project team was very experienced when reading their profiles, I was startled because most of them are working at famous companies and have experience developing decentralized projects. I fully trust them as KNIT.Finance develops

Conclude :

There are many investors willing to invest capital to develop the project. KNIT.Finance technology will surely make you satisfied with its safety and reliability.

Dear readers, if you still have questions about the details that I have introduced above, please write a review so I can answer all your questions. Thanks and don't forget to share the project where you live. It is also a good way to develop KNIT.Finance. Thanks

Information

Website: https://knit.finance/

Telegram: https://t.me/knitfinance

Facebook: https://www.facebook.com/KnitFinance-106586011273309

Linkedin: https://www.dhirubhai.net/company/knitfinance

Twitter: https://twitter.com/KnitFinance

Medium: https://knitfinance.medium.com/

Bounty: https://bitcointalk.org/index.php?topic=5324900.0

author : Zimma

URL bitcointalk : https://bitcointalk.org/index.php?action=profile;u=3120435

ETH : 0x38351630aD1F75BA1666307F4009313fe9f182A2