DeFi has seen an great rise of interest in the past few months in the crypto space generally. For lots of investors and cryptocurrency enthusiasts, the interest lies in its ability to offer a preferable way to earn profits with a fraction of the investment they would need to make otherwise. Decentralized Finance, popularly known as DeFi was at the fore front of crypto trend tables in 2020 and it is still gaining great recognition Decentralized finance basically describes blockchain based protocols and applications that work to create an alternative financial system intended to takeover the current centralized one.
Contensious as it is, DeFi has seen an amazing rise of interest in the past few months. The interest in this alternative investment and financial system has ballooned, starting from total value locked of $0.67B in January 2020 compared to the November 2020 level of $14.74B. This is explosive really and this explosion has also given rise to revolutionary projects bringing this inventive technology to the community at large. Today i will be introducing you to a revolutionary project which is the Knit Finance project a decentralized protocol that combine synthetics from numerous chains, Bridges, and real-world exchanges with yield farming, lending, swaping, and margin services through smart contracts.
KnitFinance is an exceptional decentralized protocol that combine synthetics from numerous chains, Bridges, and real-world exchanges with yield farming, lending, swaping, and margin services made possible by smart contracts. The revolutionary technology also allows for cross-chain liquidity clustering that is absolutely transparent and verifiable. An amazing initiative spearheaded by the community at large.
KNIT Finance will be the next-geneneration of DeFi protocol, that connects multiple non-Ethereum chains with ERC20. Any digital, lockable commodity can be leveraged with KNIT Finance by creating equal synthetic tokens in a 1:1 ratio, enabling billions of dollars and censor-proof exchange entry. These tokens are completely governed by the community at large.
KNIT.Finance opens thе entire crypto space tо DeFi making use of cross-chain synthetics аnd bridges. Existing DeFi protocols regulates whісh projects gеts tо participate. KNIT Finance’s decentralized protocol leverages smart contracts tо integrates DeFi pools wіth billions оf assets frоm non-ERC-20 chains. Bу creating а standard fоr non-ERC-20 coins tо convert tо synthetic ERC-20 tokens. The developers of this platform has created an extremely interesting project.
The ERC-20 standard has been exemplified to be the gold standard for yield farming, decentralized lending, and many more. This brings about the exclusion of the involvement of other assets of independent blockchains. These investments, as well as their holders, face a significant barrier to gaining access into DeFi. KNIT.finance provides a lasting solution to this issue in a single step. KNIT Finance makes use of cross-chain synthetics and bridges to unlock the entire crypto ecosystem to DeFi. Existing DeFi protocols govern which tokens and ventures will participate. The decentralized protocol used by KNIT Finance combines DeFi pools with funds running into billions from non-ERC-20 chains. KNIT Finance creates a standard for non-ERC-20 coins to remodel into synthetic ERC-20 tokens, giving rise to a whole new universe of unimaginable possibilities.
CROSS-CHAIN
Knit.Finance stands at the forefront of interoperability by enabling altcoins to be ported to Ethereum DeFi within a single UI.
SYNTHETIC ASSETS
Knit.Finance makes equities, commodities, and fiat accessible within Ethereum DeFi, enabling greater asset exposure to the crypto community.
DAPPS
DAPPs will now be able to make use of KNIT's synthetic tokens to gain access to tokens on other blockchains while only make use their Ethereum nodes. With this revolutionary platform users will also receive payments in such tokens. Furthermore this is a forum for new crypto veterans joining the DeFi business who are also not sure of how it functions and how to leverage the DeFi platform to optimize revenues in the competitive cryptocurrency industry. The developmental team has created a platform that allows users to easily browse and provides users with information and proposals which is also customized to users experience, allowing the platform users to easily search, understand, and invest in the platforms DeFi products.
CONCLUSIVELY Decentralised finance has been furnished to fundamentally change the world economy at large. With blockchain technology at the fore front of this innovation, decentralization is set to bring back privacy, trust, and allow the community at large to create a future where a transparent, secure, public system is in control. Which Knit.Finance 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. And this will give the community at large to get involved in the DeFi revolution. DeFi will enable the unbanked to join the economic system, it will reduce the cost of doing business, and it will offer new investment opportunities for anyone across the globe in general. It will empower individuals and organisations and make them less reliant on the financial institutions that brought chaos during recession. The future is decentralized, and that certainly applies to the financial sector. This is an amazing project and i'd advice that you be a part of this project and be glad you did
FOR FURTHER INFORMATION PLEASE VISIT THE LINKS I HAVE PROVIDED BELOW;
Website: https://knit.finance
Twitter: https://twitter.com/KnitFinance
Telegram Group: http://t.me/knitfinance
Medium: http://knitfinance.medium.com
LINKEDIN: https://www.linkedin.com/company/knitfinance
Author: SheyCrypto
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=2212407
ETH ADDRESS: 0x58e6cFA372745F56dCD9220655f93B996f8a102a
Telegram Username: @sheyeva
