The AMA Recap between Crypto Infinity & KnitFinance
Hi guys, I’m Godswill and I will like to give a recap of everything that happened at the AMA session held in the Crypto Infinity x telegram channel with Knit Finance.
CEO AND PROJECT INTRODUCTION
Sainath: I am Sainath g, made India’s first mobile pos Aasaanpay in 2011
been a successful fintech entrepreneur since then now i am CEO for KnitFinance where we want enable DeFi on multiple chains.
Q1: What is your long-term vision about the industry which Knit Finance project is working at ? Cryptocurrency industry is always thriving, what plans do you have to keep up with technology trends?
Our vision is to enable Defi on every chain possible. We keep updated about ourselves by constantly taking feedback from users
Q2: What will happen if Knit Finance smart contract is hacked, will user funds be safe? What is Knit Finance prepared about this?
Sainath: We are getting it audited by some of the best guys in the industry, in our version 1, custodians hold the collateralised funds hence they will be safe. Also they will be insured
Q3: Can you tell the Outstanding differences that make the Knit Finance project Different from other projects?
Sainath: Ours is ultra low cap, going to be on multiple chains and going to support multiple coins / assets hence have many advantages
Q4: What are the steps to contribute to Knit Finance? And what benefits can I get from doing it? What incentives can you offer to people who contribute?
Sainath: We are looking for great ambassadors who can help us penetrate deeper into community, KFT token holders will also get early access to many products early on.
RESPONSE TO TELEGRAM DIRECT QUESTIONS
Q1: Can you briefly explain how the structure and model of KNIT.Finance is composed in order to offer the power of non-Ethereum tokens with the flexibility of an ERC20 token?
Sainath: We at Knit.Finance provide the ability for any token ( crypto)/ asset ( Capital like Tesla shares) to be available on any chain using bridges and synthetics 1:1 collateralized. Do look out for more details on https://t.me/knitfinanceann
Q2: I want to make a long term investment with your KNIT FINANCE project but I have doubts at the moment, how can you convince and convince me that this project is very promising?
Sainath: Listen to your heart
I am sure you will be convinced
Q3: Security is of course essential for KNIT.Finance, but I would like to know what kind of security you offer users in the smart contracts that your project manages.
Sainath: It has multifold security and its audited initially on dex, then on cex.
Q4: DeFi is one of the hottest topic in the blockchain space right now. Can you share your opinions on DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is #KnitFinance approach towards the DeFi sector?
Sainath: We are very confident that we will disrupt the market very well
Q5: How does the team perceive retail investors KNIT token holders? Where do you see value in ‘us’ and what could we do to support your work most effectively?
Sainath: There trust is our source of inspiration, we value there feedback a lot as they would our early adopters
Q6: Tell us about your plans for 2020, what are you currently working on, and are you going to expand the list of big exchanges?No one can achieve anything valuable on its own, please tell us about your current and future partnerships that will lead you to success in this highly cramped crypto space?
Sainath: We are in 2021
Please watch out for our announcements in https://t.me/knitfinanceann
RESPONSE TO TWITTER QUESTIONS
Q1: Currently farming is very popular with crypto people. but what about the farming system in KNIT finance. Is there a time limit and token lock when we are farming and how do you convince us that it is safe to farm in KNIT finance.?
Sainath: Our idea is to support farming on top of our KFT tokens and synthetics with no limit or lock if possible
Q2: I want to ask, Which one the most important for you in developing the community and increasing the value of the project? Which one that Will you do first?
Sainath: Loyal Community is important for long term growth of the project, hence community is the first priority
Q3: Staking is the new trend. What staking options are available for KNIT FINANCE Token? Are there any incentives for staking? What are the various ways to earn KNIT FINANCE token and are there any limits to amount of $KFT I can earn?
Sainath: You can stake both Knit tokens and knit synthetics making it win-win for all. there is no limit
Q4: Do you have plans to build partnerships with local cryptocurrency developers and local projects in each country to take advantage of the token more globally?
Sainath: Yes, if the community is interested and law permits we will definitely would be interested
Q5: Knit Finance recently partnership with Paralink network. What are the main reasons behind the partnership with Paralink network? what kinds of positive results can we expect from this partnership?
Sainath: Being synthetics, we need to have various data feeds from third parties for the users to sure of our assets hence synthetics helps us with the same.
Closing Remarks(Crypto Infinity x)
We have come to the conclusion of this AMA session.
Many thanks, @SainathG for taking your time to share this useful information for everyone to understand more about KnitFinance . We hope KnitFinance will develop even more in the future. Have a good day