A great collaboration has taken place between Knit Finance and Figment which is one of the top solution providers when it comes to staking, middleware, and application layer solutions.
Users will gain greatly from this collaboration because they will gain a great opportunity to stake their native tokens and earn from them. Original token assets will be insured by custodians and generating staking rewards, users can also utilize users who will have access to the added advantage of extra earning’s opportunities by staking their native token, while their wrapped kAssets for liquidity provisions, margin trading, lending, and trading.
KNIT FINANCE SERVICES
Knit.Finance is a multi chain wrapped asset and liquid staking protocol that enables the issuance of representative tokens on multiple chains 1:1 backed by native assets.
Assets where possible are staked on PoS chains with staked rewards airdropped regularly. These staked representative tokens can also then be utilized in various DeFI apps to generate additional yield.
HIGHLIGHTS OF THIS PARTNERSHIP
Earn through (DPoS) staking while unlocking more capital in the form of wrapped kAssets.
- kAssets can earn by trading on AMM’s and also DEXs.
- Enables the use of multiple coins DeFi
- Staking yield rewards distribution
- Enables DeFi on Multiple chains.
Users holding wrapped tokens will receive an airdrop equivalent percentage of kAsset in their wallets
The yield generated from staking will be shared to users as Airdrop.
About Knit Finance
Knit Finance 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.
KnitFinance is an insured custody Wrapping protocol issuing assets on multiple chains for testnet we have implemented on Ethereum, Matic/ Polygon, Fantom, Hecochain, BSC, and Moonbeam currently available to test on https://app.knit.finance in near future we are supporting more chains and tokens. Our public beta is live on https://beta.knit.finance
Based in Canada, serving customers worldwide, Figment is the country’s largest blockchain staking and infrastructure provider. Figment’s purpose is to build a better Internet by increasing usage of the next generation of Proof of Stake blockchains. Figment’s mission is to create an Internet that is truly decentralized, where users can freely interact, share, collaborate, and exchange goods and services in a trustless environment.
Figment supports the adoption, growth, and long-term success of the Web 3 ecosystem. Figment’s physical IDC and technical operations are based in Toronto, Canada. The project has a diverse and a distributed team located in 8 countries speaking 10 native languages.
These efficient blockchains give people greater control of their data, more privacy, and increase financial inclusion. By eliminating intermediaries they also limit the power of centralized data monopolies, rent-seeking financial institutions, and anti-social algorithms.