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.
Unlocking DeFi to Millions of People
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.
DeFi Redefined
Many non-ERC20 assets missed the bus to be traded on Ethereum chain and DeFi initial bull run.
Now, using synthetics 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.
DeFi liquidity pools are universal and unbound by demographics. However, liquidity is only supported by Ethereum tokens at the moment. DeFi, even nascent among the crypto and blockchain industry, has only shown its tip of the iceberg potential. KNIT.Finance revolutionizes the DeFi space by allowing for a global pool of assets to be transferred into DeFi.
KNIT.Finance delivers the power of non ethereum tokens with the flexibility of an ERC20 token.
Synthetic assets are used to represent any crypto asset or real-world entity and are easily accessible and transferrable. KNIT.Finance allows you to convert a coin to an equivalent ERC20 synthetic asset. Similarly, any ERC20 token can be synthesized on another blockchain. Real-world entities such as gold, stocks, and even fiat can be pegged to these assets.
DeFi traders/investors predominantly depend on Ethereum tokens. 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 synthetic token with KNIT.Finance’s smart contract. The synthetic token thus generated is pegged to the original token in a 1:1 ratio. This token can then be lent, borrowed, or farmed.
DeFi is confined to assets on the Ethereum network. Thus, digital assets from other blockchains remain largely outside the DeFi ecosystem. KNIT.Finance provides non-ERC20 assets easy access to the DeFi, thereby opening a world of new possibilities.
Real-world assets that were previously restricted to traditional centralized exchanges can now enter DeFi through KNIT.Finance. By synthesizing stocks, gold, and even fiat, these real-world assets can be brought into the DeFi ecosystem.
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 simplifies decentralized trade and DAPP payments. Coins that were restricted to centralized exchanges can now be traded on DEXs. ERC20 nodes are sufficient for DAPPs to process transactions of various coins and accept payments in these coins.
For Every Coin
KNIT.Finance systemizes the conversion of non-ERC20 tokens to ERC20 standard. Thus, each and every blockchain is now open to smart contracts and the numerous use cases that they offer.
The best protocol for fast and easy conversion of various coins and tokens to equivalent ERC20 synthetic tokens and vice versa.
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