Knit Finance partners with Razor Network.
Great update! An amazing Integration with Knit Finance has been announced by Razor Network. This Integration aims to cater for the needs of interoperability in Razor Network’s Oracle solutions and data feeds.
The Bridge Solutions alongside Knit Finance’s cross-chain wrapped assets will aid Razor Network to cater for Oracle solutions on different blockchains eg Elrond, BSC, Polkadot, etc.
Cross-chain wrappers for crypto and real-world assets are created using Knit Finance. Due to this, users are able to deposit into insured custody and mint K-Assets. Eventually, Knit Finance’s solution will aid the achievement of interoperability across diverse chains and bring to light cross-chain fluidity of assets
Being blockchain agonistic and really decentralized. Razor Network makes the process involved in Procuring off-chain data very economical and trusted also free from theoretical game attacks. Razor punishes the misbehavior of nodes through strict slashing penalties to ensure that the data being transmitted to the blockchain through Razor’s oracle nodes is trusted. This is done based on the PoS consensus mechanism.
On Knit Finance’s multi-chain platform, Razor Network’s native token RAZOR will be integrated to issue wrapped K-RAZOR tokens through this partnership.
This being done will permit transactions of RAZOR tokens across diverse blockchains in a wrapped token state
To add to this, Knit Finance will also integrate Razor Network’s token on its multi-chain platform which will enable users for transaction of RAZOR tokens across multiple blockchains in a wrapped K-RAZOR with the use of Knit’s cross-chain bridge.
“We are glad to see innovation in the DeFi space. Time is moving fast as we speak and the developments in the DeFi space are even faster. Our collaboration with Knit Finance will enable the tokenization of $RAZOR to various other blockchains. It will also help in adopting Razor Network as an Oracle solution across the blockchain industry with the help of Knit Finance’s ecosystem.” said Hrishikesh Huilgolkar, CEO of Razor Oracle Network.
KnitFinance allows DeFi investors to access a broad range of DeFi platforms and services by providing them the freedom to migrate assets from other chains to Ethereum. Now, Razor Network will leverage Knit’s technology to open the doorway to their Oracle network to developers BUILDing on a range of blockchain networks.” said Sainath Gupta, KNIT Finance CEO.
About KNIT Finance
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. This also gives cross-chain liquidity aggregation in a completely transparent and 100% verifiable. KNIT Finance is a community-led initiative.
Knit Finance Social Media
About Razor Network
Razor Network is a decentralized Oracle network, which provides secure and reliable real-world data feeds for various blockchain-based applications and services, such as Decentralized Finance, Identity, Insurance, Prediction Markets, and so on. Razor’s performance is superior and more secure than traditional centralized oracle services, as Razor relies on a network of Validators for verifying data authenticity and ensures maximum game-theoretical security. Moreover, Razor is blockchain agnostic and can be easily integrated by developers working on a range of blockchain networks.
Please follow us on Github and Telegram for updates.