A lot of great updates have been going on Knit Finance recent and the integration of Polygon Network (previously Matic) into its Multi-chain platform has been one of them.
Polygon is the first easy-to-use platform,well-structured for infrastructure development and full-stack Ethereum scaling while 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.
HIGHLIGHTS OF THIS INTEGRATION
Knit Finance integrates Polygon Network into its multi-chain platform.
Polygon assets will now be tradable across multiple chains.
When Knit Finance adds more network chains, Polygon users will have options to trade in more network chains.
Users can issue wrapped assets on a polygon network.
Users can take their wrapped K-MATIC and create options to lend, stake,margin trade , and borrow and across multiple chains.
Users will get rewarded for staking in the form of K-Assets in the insured custodian model. K-Assets will also be made tradeable on Polygon trading platforms.
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.
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting secured chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc, and Standalone Chains like Polygon POS, designed for flexibility and independence. Polygon’s scaling solutions have seen widespread adoption with 500+ Dapps, ~567M+ txns, and ~6M+ daily txns.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your Dapp.