Kindly refer to the reference below, thanks.
REFERENCE:
Topic: Deep Dive into Knit Finance : Unlocking Next Trillion Dollar market in DeFi (Read 103 times)
May 09, 2021, 04:41:25 AM
Hi upon checking your website and the team members, I noticed that one of your team members, namely NIKSMAC, is a computer-generated image. The frame of his glasses contain different frames from different glasses and his nose seems to be disproportionate. Failure to answer regarding my allegation will compel me to create a scam accusation against the project.
Kindly refer to the reference below, thanks.
REFERENCE:
Kindly refer to the reference below, thanks.
REFERENCE:
May 06, 2021, 01:20:37 PM
Origins
The blockchain industry has come a long way since the publishing of Bitcoin’s whitepaper by Satoshi Nakamoto back in 2010 following the financial crisis. While Bitcoin was a pioneer that revolutionized decentralized technology, numerous so-called “altcoins” started to burgeon either imitating a decentralized ledger or trying to pretend they had a use-case.
Then Ethereum burst onto the scenes, sending shockwaves through the industry because of its potential as a decentralized platform on which dApps could be built on. Immediately following that was an onslaught of projects being built on the ETH chain under ERC20 standards and an influx of similar blockchains like Cardano, EOS, NEO, etc.
However, there was still a lot of skepticism around the crypto sphere because most of it was just promises and idealistic future use-cases without any product or idea that had an impact on the present.
That was until 2020 when a storm known as Decentralized Finance aka DeFi took over the whole industry. DeFi projects and apps allow users to stake, lend, borrow, trade, and pretty much do any financial transaction one wants without an intermediary. This was almost as big as Bitcoin’s genesis block.
The problem space: DeFi is limited to Ethereum chain
At present, the DeFi space is limited prominently to only two public networks. Due to this the ecosystem can only tap 2% liquidity out of the $2 trillion market space ( May 21) .
The DeFi crypto-market continues to grow really fast in value and adoption with a current market capitalization of $67.56 Billion (USD). There are a number of DeFi projects without very niche use-cases as well as platforms with high ambitions of reaching the financially underserved.
Unfortunately, though, participation in the DeFi market is limited mostly to applications that are built on the Ethereum Blockchain, leveraging its Smart Contract capabilities. Hence, a lot of intending participants whose Blockchains do not support the DeFi operational architecture will have to dump their ideas and innovations or give them out to eligible players.
In order to address this, KNIT Finance is introducing its platform which opens up the possibility of Decentralized Finance to many Non-ERC20 and Non-DeFi participant platforms and assets. The solution is the first of its kind, a wrapped protocol powered by Polkadot.
Using this platform, Trillion dollar unlock is expected in Alt and real world assets to enter the DeFi world.
Knit Finance unlocks the full potential of DeFi
Knit Finance is a unique decentralized protocol that combines wrapped assets across multiple chains, bridges, and real-world markets with yield, lend, trade, and margin services through smart contracts. It is the next generation of DeFi protocol that aims to bridge multiple non-Ethereum chains with ERC20 in Phase 1.
With Multichain Bridges, KNIT Finance creates a way for billions in liquidity to flow into DeFi. Any crypto hodler can convert their coin to an equivalent wrapped token of ERC-20 standard with KNIT Finance’s smart contract. The wrapped token thus generated is pegged to the original token in a 1:1 ratio. This token can then be lent, borrowed, or farmed. Likewise, ERC 20 tokens can also be wrapped into other blockchains.
How does Knit Finance work?
KNIT Finance delivers its solution based on the heterogeneous multichain architectural framework developed by Ethereum co-founder Dr. Gavin Wood. Inhibited in Polkadot, this framework separates canonicality and validity in consensus, thereby enabling customized side-chains to connect with public Blockchains.
Knit Finance is built on the Polka and Ethereum blockchain and has 3 main actors namely Custodians, Merchants, and Users.
The Need For KNIT Finance
The use cases and benefits of KNIT Finance are enormous as it addresses the needs of an emerging market, and creates more opportunities for projects and chains to expand. Knit Finance allows for portfolio diversification, accompanies market pioneers in their journey of DeFi innovations based on the evolving needs, and much more.
Bringing Other Blockchains Assets into DeFi
Many non-ERC20 assets missed the bus to be traded on the Ethereum chain and DeFi initial bull run. Now, using a wrapped protocol we will ensure that they can be traded, borrowed, and hence margin traded. This gives the scope for the Yield generation which wasn’t possible before in DeFi World hence increasing the value of the assets multi-fold.
Our system also enables assets to be available on various chains, hence bringing DeFi to other chains hence making the ecosystem bigger.
Real-World Assets
Real-world assets that were previously restricted to traditional centralized exchanges can now enter DeFi through KNIT Finance. By wrapping stocks, gold, and even fiat, these real-world assets can be brought into the DeFi ecosystem.
Global Liquidity Pool
With Knit finance, users can Lend, borrow, margin, and yield on multiple chains and multiple assets increasing their value. It revolutionizes the DeFi space by allowing for a global pool of assets to be transferred into DeFi. In addition, KNIT Finance delivers the power of non-ethereum tokens with the flexibility of an ERC20 token. It is quick, efficient, & hassle-free; Knit Finance is simply the best protocol for fast and easy conversion of various coins and tokens to equivalent ERC20 wrapped tokens and vice versa.
DEXes and IDOs
KNIT’s wrapped tokens will bridge the gap between separated assets with high trading volumes such as BTC and ETH, as well as other trending assets, and provide more liquidity on decentralized exchanges. It can also be used for initial DEX offerings (IDOs), IEOs, and STOs to enable direct funding and the minting of tokens on deposits of synthetic tokens.
Completely Decentralized
The smart contract is not owned or controlled by a central party. It is 100% decentralized and is solely dependent on user consensus for governance.
Knit Finance Investors
Knit Finance closed a successful private and seed round from notable investors in the blockchain space. The funding was supported by our strategic partners and some of the biggest innovators in the industry. The investors include AU21, TRG Capital, Lotus Capital, Master Ventures, LD Capital, Orion, x21, Nabais Capital, Insight Capital, Momentum 6 ,Bitcoin.com, pSquare Capital, Chronos Ventures among many others. This investment support will help Knit Finance prosper and develop the next-gen DeFi protocol to bridge multiple non-Ethereum chains with ERC20.
About KnitFinance
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 wrapped tokens in a 1:1 ratio, hence unlocking billions of dollars and trade access which can be censor proof.
Official Website : https://knit.finance/
Twitter : https://twitter.com/KnitFinance
Blog : https://knitfinance.medium.com/
Telegram : https://t.me/knitfinance[/b]
The blockchain industry has come a long way since the publishing of Bitcoin’s whitepaper by Satoshi Nakamoto back in 2010 following the financial crisis. While Bitcoin was a pioneer that revolutionized decentralized technology, numerous so-called “altcoins” started to burgeon either imitating a decentralized ledger or trying to pretend they had a use-case.
Then Ethereum burst onto the scenes, sending shockwaves through the industry because of its potential as a decentralized platform on which dApps could be built on. Immediately following that was an onslaught of projects being built on the ETH chain under ERC20 standards and an influx of similar blockchains like Cardano, EOS, NEO, etc.
However, there was still a lot of skepticism around the crypto sphere because most of it was just promises and idealistic future use-cases without any product or idea that had an impact on the present.
That was until 2020 when a storm known as Decentralized Finance aka DeFi took over the whole industry. DeFi projects and apps allow users to stake, lend, borrow, trade, and pretty much do any financial transaction one wants without an intermediary. This was almost as big as Bitcoin’s genesis block.
The problem space: DeFi is limited to Ethereum chain
At present, the DeFi space is limited prominently to only two public networks. Due to this the ecosystem can only tap 2% liquidity out of the $2 trillion market space ( May 21) .
The DeFi crypto-market continues to grow really fast in value and adoption with a current market capitalization of $67.56 Billion (USD). There are a number of DeFi projects without very niche use-cases as well as platforms with high ambitions of reaching the financially underserved.
Unfortunately, though, participation in the DeFi market is limited mostly to applications that are built on the Ethereum Blockchain, leveraging its Smart Contract capabilities. Hence, a lot of intending participants whose Blockchains do not support the DeFi operational architecture will have to dump their ideas and innovations or give them out to eligible players.
In order to address this, KNIT Finance is introducing its platform which opens up the possibility of Decentralized Finance to many Non-ERC20 and Non-DeFi participant platforms and assets. The solution is the first of its kind, a wrapped protocol powered by Polkadot.
Using this platform, Trillion dollar unlock is expected in Alt and real world assets to enter the DeFi world.
Knit Finance unlocks the full potential of DeFi
Knit Finance is a unique decentralized protocol that combines wrapped assets across multiple chains, bridges, and real-world markets with yield, lend, trade, and margin services through smart contracts. It is the next generation of DeFi protocol that aims to bridge multiple non-Ethereum chains with ERC20 in Phase 1.
With Multichain Bridges, KNIT Finance creates a way for billions in liquidity to flow into DeFi. Any crypto hodler can convert their coin to an equivalent wrapped token of ERC-20 standard with KNIT Finance’s smart contract. The wrapped token thus generated is pegged to the original token in a 1:1 ratio. This token can then be lent, borrowed, or farmed. Likewise, ERC 20 tokens can also be wrapped into other blockchains.
How does Knit Finance work?
KNIT Finance delivers its solution based on the heterogeneous multichain architectural framework developed by Ethereum co-founder Dr. Gavin Wood. Inhibited in Polkadot, this framework separates canonicality and validity in consensus, thereby enabling customized side-chains to connect with public Blockchains.
Knit Finance is built on the Polka and Ethereum blockchain and has 3 main actors namely Custodians, Merchants, and Users.
The Need For KNIT Finance
The use cases and benefits of KNIT Finance are enormous as it addresses the needs of an emerging market, and creates more opportunities for projects and chains to expand. Knit Finance allows for portfolio diversification, accompanies market pioneers in their journey of DeFi innovations based on the evolving needs, and much more.
Bringing Other Blockchains Assets into DeFi
Many non-ERC20 assets missed the bus to be traded on the Ethereum chain and DeFi initial bull run. Now, using a wrapped protocol we will ensure that they can be traded, borrowed, and hence margin traded. This gives the scope for the Yield generation which wasn’t possible before in DeFi World hence increasing the value of the assets multi-fold.
Our system also enables assets to be available on various chains, hence bringing DeFi to other chains hence making the ecosystem bigger.
Real-World Assets
Real-world assets that were previously restricted to traditional centralized exchanges can now enter DeFi through KNIT Finance. By wrapping stocks, gold, and even fiat, these real-world assets can be brought into the DeFi ecosystem.
Global Liquidity Pool
With Knit finance, users can Lend, borrow, margin, and yield on multiple chains and multiple assets increasing their value. It revolutionizes the DeFi space by allowing for a global pool of assets to be transferred into DeFi. In addition, KNIT Finance delivers the power of non-ethereum tokens with the flexibility of an ERC20 token. It is quick, efficient, & hassle-free; Knit Finance is simply the best protocol for fast and easy conversion of various coins and tokens to equivalent ERC20 wrapped tokens and vice versa.
DEXes and IDOs
KNIT’s wrapped tokens will bridge the gap between separated assets with high trading volumes such as BTC and ETH, as well as other trending assets, and provide more liquidity on decentralized exchanges. It can also be used for initial DEX offerings (IDOs), IEOs, and STOs to enable direct funding and the minting of tokens on deposits of synthetic tokens.
Completely Decentralized
The smart contract is not owned or controlled by a central party. It is 100% decentralized and is solely dependent on user consensus for governance.
Knit Finance Investors
Knit Finance closed a successful private and seed round from notable investors in the blockchain space. The funding was supported by our strategic partners and some of the biggest innovators in the industry. The investors include AU21, TRG Capital, Lotus Capital, Master Ventures, LD Capital, Orion, x21, Nabais Capital, Insight Capital, Momentum 6 ,Bitcoin.com, pSquare Capital, Chronos Ventures among many others. This investment support will help Knit Finance prosper and develop the next-gen DeFi protocol to bridge multiple non-Ethereum chains with ERC20.
About KnitFinance
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 wrapped tokens in a 1:1 ratio, hence unlocking billions of dollars and trade access which can be censor proof.
Official Website : https://knit.finance/
Twitter : https://twitter.com/KnitFinance
Blog : https://knitfinance.medium.com/
Telegram : https://t.me/knitfinance[/b]
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