Knit Finance partners with Groestlcoin to integrate $GRS tokens into the multichain platform

Knit Finance partners with Groestlcoin to integrate $GRS tokens into the multichain platform

Knit Finance is pleased to announce its partnership with Groestlcoin, a proof of work cryptocurrency with a focus on technological advancement. Groestlcoin was built to establish an electronic payment model that is purely based on mathematical proof. It uses the proof of work system (POW) to facilitate secure online money transactions.

Knit Finance unlocks the full potential of DeFI by bridging the entire crypto ecosystem to DeFi using a wrapped protocol.

Through this collaboration, Knit Finance will integrate Groestlcoin’s native token $GRS into its multi-chain token solutions, and expand the ecosystem to a whole new audience.

Wrapped Protocol for Proof-of-work

Groestlcoin operates as open-source software on a peer-to-peer model (transactions take place directly between the payer and payee). This means that no trusted intermediary such as a bank or PayPal is required to verify the details of the sender and receiver. Rather, the transactions are verified by nodes (the network of computers/users spread globally) and recorded in an open ledger.

Knit Finance is the next generation of DeFi protocol that aims to bridge multiple non-Ethereum chains with ERC20 in Phase 1. It creates a new standard that allows non-ERC-20 coins to be converted into wrapped ERC-20 tokens. By using Knit Finance’s wrapped protocol, stocks, gold, and even fiat among other real-world assets can be brought into the DeFi ecosystem.

Through this partnership, Knit Finance will integrate Groestlcoin (GRS) token into its multi-chain platform. This will be a huge step in expanding the Knit Finance ecosystem as the collaboration will draw in Groestlcoin social followers to try out the Knit Finance platform and its wrapped protocol.

The integration will also enable KnitFinance’s multi-chain solution to make GRS tokens accessible on multiple chains and take a step towards its goal of cross-chain finance.

About Knit Finance

Knit Finance is a unique decentralized protocol that integrates its wrapped protocol across multiple chains, bridges, and real-world markets with yield, lend, trade, and margin services through smart contracts. KnitFinance bridges multiple non-Ethereum chains with wrapped tokens. Any asset can be leveraged within Ethereum DeFi and implemented into liquid lending and trading.

About Groestlcoin

Launched in Mar 2014, Groestlcoin (GRS) is a peer-to-peer (p2p) cryptocurrency with a focus on technological advancement. GRS is the first coin to implement Segregated Witness (SegWit) and perform the first Lightning Network transaction on its main net network.

Social media KnitFinance :

Telegram : https://t.me/KnitFinance

Twitter : https://twitter.com/knitfinance

Medium : https://knitfinance.medium.com

Social media Groestlcoin :

Telegram : https://t.me/groestl

Twitter : https://twitter.com/GroestlcoinTeam

Medium : https://medium.com/@groestlcoinnews