Knit Finance Next Gen Defi (Decentralized Finance)


 The blockchain is a distributed transaction ledger that can record not only financial transactions, but almost anything of value. Each block consists of a series of transactions that are managed by a distributed computer infrastructure on a decentralized network.

What makes blockchain technology unique is its ability to keep all ledgers on the network publicly accessible but completely untouched. Each block in the network is cryptographically linked to two adjacent blocks, which means that in order to interfere with the network, each block in the network must be modified. Since blockchain is distributed over a decentralized network, security is a strong point.

Understanding the current nature of blockchain technology, the team has come up with a solution that can solve the above problem, KNIT. Project finance is a unique decentralized protocol that combines aggregation across multiple chains, bridges and real-world markets with interest, loans, trade and escrow services via smart contracts.

Now I will introduce in detail about the KNIT.Finance project for you to understand more deeply

The blockchain community is constantly looking for solutions to make their platform and technology more scalable. A scalable blockchain enables a variety of decentralized applications.

It's surprising that Knit.Finance connects several non-Ethereum chains with wrapped tokens. Any asset can be leveraged on Ethereum DeFi and used for transaction and liquidity guidance.

KNITTING. Finance is the next generation of the Defi protocol which aims to bridge multiple non-Ethereum chains with ERC20 in Phase 1. Any lockable digital assets can be leveraged with KNIT. Finance by generating synthetic tokens equivalent in a 1: 1 ratio, thus opening up billions of dollars and trading access that can prove censorship.

Anything that is decentralized must be available to anyone and everyone. But DeFi currently relies mostly on the ERC-20 token. The ERC-20 standard has proven to be the main choice for decentralizing lending, lending, and agricultural yields, etc. However, this ignores the participation of other assets from the independent blockchain. This asset and their vendors have a huge barrier to getting into DeFi. KNIT.finance solves this problem in one fell swoop.

KNIT.Finance opens up the entire crypto ecosystem to DeFi using synthetics and cross-chain bridges. The existing DeFi protocol determines which tokens and projects can participate. KNIT Finance's decentralized protocol leverages smart contracts to combine DeFi pools with billions of assets from non-ERC-20 chains. By setting the standard for non-ERC-20 coins to be converted into synthetic ERC-20 tokens, KNIT Finance opens up a whole world of new possibilities.

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

Knitted Financial Features

1. Each Coin

For every coin hawker, we provide the option to trade and take advantage of their coins in the DeFi room. Coins (For example: LTC) that were previously outside the scope of DeFi will now have full access to all DeFi features.

2. The flexibility of the ERC-20 standard

The ERC-20 standard is known to be flexible, has the highest transferability and accessibility with the second largest blockchain network in the world. Every coin now has the opportunity to take advantage of Ethereum's flexibility.

3. Global Liquidity Pool

A global liquidity pool is opened for Ethereum and vice versa.

4. Read-World assets

Stocks, Gold and Fiat can be synthesized for trading on Decentralized Exchanges, which essentially decentralize centralized assets, giving traders more power.

5. Community Driven

100% governance of this token will be done through the community.

6. DAPP

DAPP can now access tokens on other blockchains using only their Ethereum nodes via the KNIT synthetic token. They can also accept payments in this token.


This is actually an evolutionary change in the concept of blockchain code execution and the concept of blockchain as a world computer.

At this point, do you feel confident about joining the project? . For me this is a great project.

Knit.Finance creates tremendous opportunities for altcoin and Ethereum DeFi. The protocol that integrates new assets into the Ethereum network is highly liquid and allows them to connect to existing profit-making opportunities.

The advantage of this solution is that it can complete all transactions on the network, which will help developers achieve the highest efficiency when using this technology.

Conclusion:

I thoroughly researched the project before introducing it to the community. Let me learn more about KNIT.Finance through my next article. Thank you Website: https://knit.finance/

For more information on crochet finance, follow:

Website: https://knit.finance/

Telegram: https://t.me/knitfinance

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

Linkedin: https: //www.linkedin. com / company / knitfinance

Twitter: https://twitter.com/KnitFinance

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

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


Author: Amild

Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=2583828

My Wallet Address: 0xbf00577895715883E63C6694D33dA51b1cDEBDa8

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