Most modern cryptocurrencies run on the ERC-20 standard . This standard turned out to be a good option for such processes as lending and borrowing. However, the system is structured in such a way that, for all this, the existence of other assets is ignored. These assets have a huge barrier to entry into the DeFi ecosystem. Often, this barrier is not passable for many projects. And all this problem is solved by KNIT Finance.
Company KNIT Finance using its unique krosscheyn synthetics and bridges technology otroet all kriptovalyutnuyu DeFi system. The KNIT Finance decentralized protocol uses smart contracts to combine DeFi pools with billions of non-ERC-20 asset chains. By creating a standard for non-ERC-20 coins to convert to synthetic ERC-20 tokens, KNIT Finance opens up a whole new world of possibilities.
If you own a non-ERC-20 token, how many times have you felt the need to convert your assets to an ERC-20 token to participate in DeFi? We are all crypto enthusiasts and traders ourselves, so this is one of the main obstacles we face. Company KNIT Finance believes in the use of multiple cryptocurrency of several chains, not just one, but also believe in the DEFI. But it seemed that the two ideals were never meant for each other. That is why KNIT Finance has come up with a unique decentralized protocol that will help us and the crypto community enter DeFi without having to abandon holdings.
Now let's look at some of the project's features:
For every coin: for every coin keeper, we provide the opportunity to trade and apply their own coins at the DeFi site. Coins (ex: LTC) that were previously outside the reach of DeFi will now have absolute access to all DeFi features.
Elasticity of ERC-20 Standard: The ERC-20 standard is popular for being flexible, highly portable and available with the world's 2nd largest blockchain network. Any coin now has a chance to apply the elasticity of Ethereum.
Massive liquidity pool: Massive liquidity pool is revealed to Ethereum and others. Read-World Assets: Promotions, gold and fiat have the potential to be synthesized for trading on decentralized exchanges, essentially decentralizing centralized assets, giving the investor more probabilities.
Managed by the society: 100% management of these tokens will be implemented by the society.
DAPP: now DAPPs have every chance to access tokens on other blockchains, using only their own Ethereum nodes through synthetic KNIT tokens. They still have every chance of receiving payments in these tokens.
Also, I would like to mention the next project news: strategic partnership with OpenDeFi via OroPocket. This is a great achievement for the KNIT Finance team . Oropocket at a Glance: Oropocket is a 100% asset-backed banking system without the treacherous, hidden fees and time-consuming tedious work of traditional banks.
This partnership will enable OpenDeFi to be offered across multiple networks with KNIT Finance multi-chain solutions . It will also allow in the near future to penetrate more deeply OpenDeFi into the binance smart chain and the polkadot ecosystem, as well as several chains that will later be supported by KNIT Finance .
Conclusion: in this article I tried to provide the most general view of this project, all the necessary information is complete in the article. Knowing that KNIT Finance is a great project that has a lot of interesting points and I think that their products will definitely be well received by users. In addition, the partnership with KNIT Finance is also very good, KNIT Finance implements many advertising programs. Hopefully KNIT Finance will post more information related to the token soon . I'm sure a lot of people are looking forward to it.
Information about the project:
- Website: https://knit.finance/
- Telegram: https://t.me/knitfinance
- Medium: https://knitfinance.medium.com/
- Facebook: https://www.facebook.com/KnitFinance/
- Twitter: https://twitter.com/KnitFinance
- Linkedin: https://www.linkedin.com/company/knitfinance
- BOUNTY: https://bitcointalk.org/index.php?topic=5324900.0
Username : pijayplow93
ETH : 0xE42555f44ff0d1f38C56540b3FFA4428734dD775
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