Knit Finance Monthly Update- MAY

This month, our determined team worked intensively for the success of Knit SEED SHO that went live on DAO Maker. Besides the SHO, this month was jam-packed with eleven promising partnerships, major campaigns and releases, a successful fundraising round where we raised $1 Million, and more.

Our CEO, Sainath Gupta, was invited by GCTV Manthan to speak about — Cryptocurrency Indian Perspective, where he explained the potential of cryptocurrency and DeFi. We are also thrilled to see our community growing and more people joining Knit Finance everyday.

Currently, we have 43,000+ members on Telegram and 18,500+ followers on Twitter.

Let’s learn more about Knit Finance achievement of the month!

Partnership Developments

Groestlcoin: This month, we joined hands with Groestlcoin, open-source software on a peer-to-peer model to integrate $GRS (Groestlcoin native token) into our multi-chain platform. Knit will become a valuable partner to Groestlcoin by initially enabling its token to be accessible on multiple chains. Groestlcoin as a platform has been active in the blockchain space for over seven years. We are sure that joining hands with such a platform will allow us to learn and evolve more significant opportunities.

Edgeware: Edgeware, a community-owned, fairly distributed, self-sustainable blockchain ecosystem, joined Knit.Finance as a strategic partner to develop Wrapped K-EDG (Edgeware native token) tokens for its multi-chain platform. Knit Finance will develop wrapped K-EDG tokens that will be transacted across multiple independent blockchains quickly as per this partnership.

FinNexus: FinNexus is building a suite of open finance protocol clusters that will power hybrid marketplaces trading both decentralized and traditional financial products. $FNX is the native token FinNexus, and Joining Knit Finance will enable FinNexus to develop wrapped K-FNX tokens for its multi-chain platform. K-FNX tokens will be transacted across various blockchains easily.

Dash: Knit Finance has partnered with Dash, a digital currency that enables anyone anywhere in the world to make quick, easy, and cheap payments. This partnership aims to develop wrapped K-DASH tokens for enabling Dash users to make cross-chain transactions easily. This partnership will significantly enhance the experience of Dash users and allow them to grab more excellent DeFi opportunities. Dash and Knit Finance will also work together to synergize their tech and use their respective networks to create marketing awareness among users.

Neblio: Knit Finance joined hands with Neblio, a platform that simplifies blockchain operations with its unique solutions and NEBl (Neblio native token). Knit Finance will develop Wrapped K-NEBL tokens for Neblio’s multi-chain platform as per the partnership. The freshly developed wrapped K-NEBL tokens can be smoothly transacted across multiple independent blockchains.

Public Mint: Public Mint is a complete platform for fiat money, fully collateralized and held on deposit with regulated, FDIC-insured institutions. Our collaboration with Public Mint will aim at integrating Public Mint tokens to Knit Finance’s multi-chain platform to issue wrapped tokens that will be available on multiple chains. Both the platforms will also work closely to synergize their tech and use their respective networks to create marketing awareness among users.

Harmony: Knit Finance has partnered with Harmony, a blockchain platform designed to facilitate the creation and use of dApps to integrate its multi-chain solutions and accept $ONE tokens in its marketplace. Harmony will use Knit Finance’s multi-chain solutions to make it’s token available on numerous chains for an easy transaction to take a step towards its goal of cross-chain finance.

Razor Network: We made a strategic partnership with Razor Network, a truly decentralized oracle network for DeFi solutions. As per this partnership, RAZOR (Razor Network’s native token), will be integrated to Knit. Finance’s multi-chain platform to develop and issue wrapped K-RAZOR tokens. The wrapped K-RAZOR tokens can be transacted across multiple blockchains easily.

Autonio: Knit Finance has partnered with Autonio Foundation, a decentralized autonomous organization built around developing accessible, easy-to-use, and affordable trading tools and services. The primary aim of this integration is to enable cross-chain transactions of Autonio’s native token NIOX by wrapping it and developing K-NIOX tokens.

SparkPoint: Knit Finance has partnered with SparkPoint, a platform that aims to reinvent digital payments and build a better future for the people. This partnership will allow the integration of SRK (SparkPoint native tokens) onto Knit. Finance’s multi-chain platform to issue wrapped K-SRK tokens that will be available on multiple blockchains. Once Launched, this collaboration will also allow our platform to offer staking services to users wherein one can stake K-SRK tokens and earn K-SRK or KFT token reward as APY.

Avalanche: The last yet significant partnership of the month was with Avalanche, an umbrella platform for launching decentralized finance (DeFi) applications, financial assets, trading, and other services. As per this partnership, Avalanche’s native tokens AVAX will be integrated onto Knit Finance’s multi-chain platform to develop wrapped K-AVAX tokens available on multiple chains. Knit Finance will also support the Pangolin (PNG) project integrated into its platform once the staking and lending service is live on Knit Finance, Avalanche, and Knit Finance will cooperate on grants to give rewards to the platform users.

Launches and Releases

KNIT SEED SHO on DAO Maker: One of the most outstanding achievements of this month includes Knit SEED SHO on DAO Maker. We received great support and love from our community during this program, making this event extremely successful. We also organized a community round to make this event a bit more exciting.

Knit Highlights(About Knit): To get our community acquainted with Knit Finance, we also released insightful highlights to shed light on each Knit feature, platform operation method, our investors, and more.

Learn about it here.

Roadmap Announcement: Keeping our users updated all the time is what Knit Finance believes in, and by releasing our Roadmap, we allowed our users to track our project progress easily. It will also enable our users to be well-prepared for the upcoming events on our platform.

Whitepaper Release: We at Knit.Finance support transparency and clarity. With this aim in mind, we released our much-awaited whitepaper to give our users a better understanding of our platform and solve the significant issues of the vast DeFi space.

Tokenomics Release: We know that tokenomics can be pretty complex to understand. So, while releasing Knit Finance tokenomics, we made sure to break down every detail in different points with clarity. Every user, new or old to the blockchain and cryptocurrency space, could quickly grasp the details mentioned in our tokenomics guide.

Campaigns and Contests

Fundraising Giveaway Campaign: We organized a giveaway campaign to celebrate our successful fundraising of a total of $1 Million in our fundraising round. We allowed our incredibly supportive community a chance to get their hands on the big rewards that they deserve through this program. Our community took an active part in making this event another success in our platform’s history. The total reward released for this campaign was 1000 USD. The giveaway campaign is officially closed now.

Guess The Partner Contest: We announced this fantastic contest to celebrate our new strategic partnership and give our community another chance to win some rewards. We were thrilled to see how our supporters came up with various guesses. The competition is officially closed now, and we have rewarded the winners with $50 USDT already!

Term of the day Campaign: To better understand users, especially those new to blockchain space, DeFi, and cryptocurrencies, we started an insightful campaign called Term of the Day. We took the initiative to define various easy to complex terms related to blockchain, DeFi, and cryptocurrencies through this campaign.

AMA with Dash Next

We’re glad to share that we got an opportunity to spread the word about our platform, milestones, goals, and more through an insightful AMA session with the Dash Next Co-founder Felix Mago. It was a great session with excellent community participation.

That’s all for this month, but many more exciting events are coming next in June.

So, do not forget to join us for more updates!

Upgrading Decentralized Finance