As we near the SHO on DAO Maker on 17th May, here’s an exciting update we don’t want you to miss: We successfully raised $1 million in our recent fundraising round. With this, we have achieved another milestone in our journey to provide cross-chain wrappers for the top-200 assets.
KnitFinance Fundraising Round

Partnering with our investors will also enable us to enhance our engagement with our community and industry on both regional and global scales. Such joint ventures will help KnitFinance spread awareness about the protocol, its features, and mission worldwide.
Celebrating our progress, we would also like to announce that 30 more renowned projects have formed a strategic alliance with KnitFinance. Some of these projects are multi-billion dollar cap, and official announcements regarding these partnerships will soon be public.
KnitFinance Features

Knit is a protocol for creating cross-chain wrappers for the top-200 assets. Users can deposit to get insured custody and mint k assets. KnitFinance maximizes DeFi yields with its multi-chain APY optimization, ensures collateral security with its insured custody, and allows users access to its wrappers for their entire portfolio. All the features of this platform enhance user experience and bridge DeFi on Multiple Chains by bringing multiple assets to every compatible blockchain network. Knit’s asset locking feature allows insurance up to $350 million that helps to bring real-world and reliable insurance into DeFi.
Thus, KnitFinance holds the power to enable the next wave of liquidity; real-world assets are expected worth nearly a trillion dollars to enter the DeFi world onto multiple chains.
KnitFinance Future Plans
KnitFinance is working towards elevating the financial inclusion quotient of DeFi to much higher levels. This step will help to reduce the entry barriers and asset risk for potential users. It is a 100% decentralized process. It will also depend on user consensus for governance.
We are also planning to list our K tokens (KnitFinance tokens : KFT ) on some of the top-tier centralized crypto exchanges like Binance, Huobi Global, OKEx, etc. The primary aim is to enhance the global liquidity of Knit tokens and wrapped assets in the upcoming times.
With a team of highly talented and experienced veterans of the Crypto industry, we are sure to achieve our mission and goals. Our team is working day and night to simplify our user experience by introducing better and more advanced features on our platform to amplify our mission. The Beta version of our Product is live since December that is supporting wrapped assets on five chains already.
With the support of our supportive community, investors, and partners, we are all set to take steps that unlock the true potential of DeFi.
Join our social channels for more updates:
Website: https://knit.finance
Telegram community: https://t.me/knitfinance
Announcements channel: https://t.me/knitfinanceann
Twitter: https://twitter.com/KnitFinance[/b]

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]

Knit Finance is excited to announce its partnership with Paid Network, an ecosystem DAPP that leverages blockchain technology to deliver DeFi powered SMART Agreements to make businesses exponentially more efficient.

Knit Finance is a unique decentralized protocol for creating cross-chain wrappers for the top-200 assets. With Knit Finance, Users can deposit to insured custody and mint k tokens.

Through this partnership, Paid Network (PAID) tokens will be integrated onto Knit Finance's multi-chain platform and wrapped K-PAID tokens will be developed. Additionally, PAID Network’s business agreements will be utilized by Knit Finance to streamline back-office operations.

Wrapped K-PAID tokens and Paid’s Business Agreements

PAID is a decentralized protocol that will allow users to do business with anyone, anywhere in the world, without spending much on legal services. PAID’s platform will use SMART agreement templates, where users can fill in the terms and conditions and execute business contracts with other people using their desktop or mobile phone.

Knit Finance allows users to maximize DeFi yields with multi-chain APY optimization. Knit users can maximize collateral security using the insured custody, and access wrappers for their entire portfolio. Knit Finance enables the k standard for tokens, which is a token wrapper for assets held in insured custody.

Knit Finance’s exciting collaboration will involve the integration of Paid Network (PAID) token on its multi-chain platform. This will allow PAID tokens to be transacted across multiple independent blockchains in a wrapped K-PAID token model.
 
Concurrently, PAID Network’s business agreements will be utilized by Knit Finance to streamline their back-office operations.

Sainath Gupta, CEO of KnitFinance, had the following to say:

We have always ensured a convenient experience for our users, and this collaboration with PAID Network will further enhance our efforts to make our user experience the best. Our users will enjoy the benefits of PAID Network’s DeFi powered SMART Agreements while leveraging, wrapping, and minting digital and lockable assets. With PAID Network, we hope to explore more domains of DeFi and blockchain technology.

Kyle Chasse, CEO of PAID Network, had the following to say:

“PAID and Ignition both practice and preach interoperability, so to see Knit Finance come into the space and enhance the ERC20 ecosystem the way they do, is more than exciting. We also love the way they assist in connecting the industry further through enhanced interoperability.

This partnership brings that value to our community and will create massive DeFi opps for $PAID holders. Allowing our community to access K-PAID and the corresponding blockchains and DeFi opportunities, is massive.

The interest we have seen so far in the commercial applications of PAID and our business legal toolkit has even surpassed our own expectations. Everyday more and more companies are reaching out to us for future integration and/ customization for their specific use cases and to form this partnership with Knit Finance, is another opportunity for us to showcase our solution.

It’s great to see the industry come together through these partnerships and work with one another to test, use and prove these new systems and technologies.”

About KnitFinance

KnitFinance is a unique decentralized protocol for creating cross-chain wrappers for the top-200 assets. It delivers all-market bridges to ensure comfortable cross-chain fluidity of assets and allows institutions, developers, farmers, and traders to tap into trusted custody to mint Knit's k tokens.

About PAID Network

PAID Network is a comprehensive business toolkit for all business transaction needs.
It is a blockchain-based decentralized legal ecosystem, PAID aims to reduce the complexity associated with the current legal system by using the Smart Agreement template.



KnitFinance :

Telegram: https://t.me/KnitFinance

Twitter: https://twitter.com/knitfinance

Medium: https://knitfinance.medium.com



Paid Network :

Telegram: https://t.me/paidnetwork

Twitter: https://twitter.com/paid_network

Medium: https://medium.com/@Paidnetwork

We at Knit Finance are proud to team up with API3. This partnership will further enable us to widen the scope of Defi. Leveraging API3’s Airnode-enabled APIs and quantifiably secure data feeds will open the gates to almost all real-world tradable assets and the possibilities of making them available to users on different blockchains.
Our vision is to make multiple cryptocurrencies and any real world assets available on multiple chains by generating equivalent wrapped tokens in a 1:1 ratio. We currently support PolkaDot, Binance Smart Chain, Ethereum, and Polygon. We plan to make digital and capital assets and bullion available on multiple chains.
API3 powers the creation of decentralized applications with Airnode-enabled APIs and decentrally governed dAPIs (data feeds), with users being insured against data feed malfunctions. By wrapping stocks, gold, and even fiat, these real-world assets can be brought into the DeFi ecosystem.

Upping the ‘Decentralization Factor’ of DeFi

API3’s secure and decentralized dAPIs (data feeds) supply real-world data to smart contracts on multiple chains. Knit Finance users can use this data to program wrapped token ERC-20 versions of any digital, lockable asset that can be lent, borrowed, margin traded, yield farmed.
Our smart contract that will facilitate the above is not owned or controlled by a centralized party/body. It is 100% decentralized and is solely dependent on user consensus for governance.
Speaking about this development,
Knit Finance CEO, Sainath Gupta said: “We are super stoked to partner with API3. This is a significant milestone in our journey to expand the definition of Defi.”

Heikki Vänttinen, Co-Founder API3 said: “API3 is excited to be able to provide Knit Finance with the data needed to power their protocol. We look forward to seeing the use cases made possible through allowing assets to be available across different platforms"

About API3

API3 builds decentrally governed, and quantifiably secure data feeds that power Web 3.0 applications without employing third-party intermediaries. Powered by Airnode-enabled first-party oracles, API3’s dAPI’s are fully decentralized and blockchain-native APIs with quantifiable security.

About Knit Finance

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.

Anything decentralized should be available to anyone and everyone. But DeFi today is predominantly dependent on ERC-20 tokens. ERC-20 standard has proven to be the go-to for decentralized lending, borrowing, and yield farming, etc. However, this leaves out the participation of other assets of independent blockchains. These assets and their holders have a huge barrier to entry into DeFi. KNIT.finance solves this problem in one fell swoop.

KNIT.Finance unlocks the entire crypto ecosystem to DeFi using cross-chain synthetics and bridges. Existing DeFi protocols determine which tokens and projects get to participate. KNIT Finance’s decentralized protocol leverages smart contracts to combine DeFi pools with billions of assets from non-ERC-20 chains. By creating a standard for non-ERC-20 coins to convert to synthetic ERC-20 tokens, KNIT Finance opens up an entire world of new possibilities.

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

The Protocol That You Deserve
Are you a holder of a non-ERC-20 token? How many times have you felt the need to convert your holdings to an ERC-20 token to participate in DeFi? Being crypto enthusiasts and traders ourselves, it is one of the major roadblocks that we faced. We believe in hodling multiple crypto from multiple chains and not just one. We also believe in DeFi. But the two ideals seemed like they were never meant for each other. So, we came up with a unique decentralized protocol that helps us and the crypto community to enter DeFi without having to forsake our holdings — a multi-chain bridge to DeFi.

Features

For Every Coin: For every coin holder, we provide an option to trade and leverage their coins in the DeFi space. Coins (E.g.: LTC) that were previously out of DeFi’s scope will now have complete access to all of DeFi’s features.

Flexibility of ERC-20 standard: ERC-20 standard is known to be flexible, possessing the highest transferability and accessibility with the world’s second-largest blockchain network. Every coin now has the opportunity to leverage Ethereum’s flexibility.

Global Liquidity Pool: A global liquidity pool is being opened to Ethereum and vice versa.

Read-World Assets: Stocks, Gold, and Fiat can be synthesized to trade on Decentralized Exchanges, essentially decentralizing centralized assets, giving more power to the trader.

Community-Driven: 100% governance of these tokens will be through the community.

DAPPs: DAPPs can now access tokens on other blockchains using only their Ethereum nodes via KNIT’s synthetic tokens. They can also receive payments in these tokens.

KNIT is revolutionizing DeFi, one bridge at a time.

If you want to know more about our project or talk about a collaboration, drop us a message : sainath@knit.finance

For more exciting updates please join us on::
Knit.Finance Telegram https://t.me/knitfinance
Knit.Finance Twitter https://twitter.com/KnitFinance

If interested in private sale ( only for long term vision persons please) :: drop us a mail on: sainath@knit.finance

Our website is https://knit.finance/