Knit Finance is thrilled to announce its Staking partnership with Figment.
Knit Finance is thrilled to partner with Figment, a leading solutions provider in Staking, middleware, and application layer solutions for token holders and developers investing in and building on Web 3 technology.
Knit Finance users will have access to the added advantage of extra earning’s opportunities by staking their native token, while original token assets will be insured by custodian’s and generating staking rewards, users can also utilize
their wrapped kAssets for trading, lending, margin trading and liquidity provisions.
What services does Knit Finance provide ?
Knit.Finance is a multi chain wrapped asset and liquid staking protocol enabling the issuance of representative tokens on multiple chains 1:1 backed by native assets.
This brings liquidity to inter-blockchain assets for all decentralized applications on multiple chains.
Assets where possible are staked on PoS chains with staked rewards airdropped regularly. These staked representative tokens can then be used in various DeFI apps to generate additional yield. Staking with Knit Finance will bring liquidity to coins which are staked for higher capital utilization.
Highlights of Partnership
- Makes multiple coins DeFi usable.
- Enables DeFi on Multiple chains.
- Earn through (DPoS) staking while unlocking more capital in the form of wrapped kAssets.
- kAssets can also earn by trading on AMM’s and DEXs.
Staking yield rewards distribution:
- Airdrop equivalent percentage kAsset to the users wallets holding wrapped tokens.
- Distribution of yield generated from staking will be shared to the users in the form of 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 a 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
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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. We have a diverse and 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.
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