Knit Finance KFTPrice $ 0.000282

Knit Finance is the first wrapped protocol for creating cross-chain wrappers for the top multi-class assets on Polkadot. Deposit to insured custody and mint wrapped K-Assets on any chain. Opening up DeFi for the next Trillion Dollars of assets while reducing congestion on Ethereum and helping DeFi take root on other chains. All the assets deposited are real world insured, hence opening the scope for large level deployment at minimal risk for individuals and institutions.

PROJECT OVERVIEW: WHAT IS KNIT FINANCE

Knit.Finance is the world's first wrapped protocol for creating cross-chain wrappers for the top multi-class assets using Polkadot. 97% of Crypto assets which is close to 2 trillion Dollars still doesn't have access to all DeFi features.

Holders whose Blockchain Assets do not support current DeFi operational architecture had to dump. This reduced the value of many non DeFi assets meanwhile much in DeFi is happening on the Ethereum chain, increasing gas prices and congestion. This resulted in considerably lower capital efficiency.

Knit.Finance opens up the possibility of DeFi to many Non-ERC20 and Non-DeFi participant chains and different asset classes.

With Multichain wrappers, KNIT creates a way for billions in liquidity to flow into different DeFi asset classes allowing any crypto holder to convert their assets into an equivalent insured wrapped token on any chain with the original asset being insured by real world insurance.

Knit.Finance can be expanded to other asset classes like Tesla shares, Gold, bonds, etc. Hence, huge amount of assets can be moved into several blockchains to amplify DeFi.

GO-TO-MARKET STRATEGY

Knit Finance is targeting user from:

• Chains driving liquidity to get more transactions happening
• Projects driving liquidity to more activity
• Projects and Chains Staking to reduce free liquidity by staking
• DeFi community
• Social media campaigns, strategic marketing partners
• Influencers
• Mining/staking/yield farming activities

Knit will also actively collaborate with existing loyal communities of various projects, chains and coins to raise market awareness and build a strong community.

TECHNOLOGIES USED AND CREATED BY THE PROJECT

Substrate and Polkadot

The project's core components are built on substrate. Polkadot has one of the largest ecosystem, giving Knit a great chance for their K-Assets to be adopted.

Ethereum Blockchain

Knit project also uses Ethereum blockchain. The Ethereum blockchain has the highest number of DEXes, DeFi Lending protocols and Yield Protocols.

Binance Smart Chain

Binance Smart Chain is an Ethereum Virtual Machine (EVM)-compatible blockchain that runs in parallel with the Binance Chain that enables smart contracts. It is very fast (produces a block every 3 seconds), it is EVM-compatible, it has very low gas-fees, and it supports cross-chain asset transfers.

Solidity

The team is using this high-level programming language for the Smart Contract.