Knit Finance Partners with Razor Network to Integrate $RAZOR Tokens and Issue Wrapped K-RAZOR on Its Multichain Platform
Knit Finance is thrilled to announce its collaboration with Razor Network, a truly decentralized oracle network for DeFi solutions to access real-world data through secure real-time Oracle data feeds.
Knit Finance is a decentralized protocol for creating cross-chain wrappers for crypto and real-world assets. Through the protocol, users can deposit into insured custody and mint K-Assets. Ultimately, Knit’s unique solution would help achieve interoperability between various chains and promote cross-chain fluidity of assets.
Through this partnership, Knit will integrate Razor’s native token RAZOR on its multichain platform to issue wrapped K-RAZOR tokens. This would allow RAZOR tokens to be transacted across multiple blockchains in a wrapped token state.
Wrapped K-RAZOR Tokens for Cross-Chain Transactions
Razor Network is a decentralized Oracle network providing reliable real-world data feeds for various blockchain-based applications and services, including Decentralized Finance, Identity, Insurance, Prediction Markets, etc. The network provides a truly decentralized and highly secure data source that is resistant to censorship attacks, server downtime, hacks, single points of failure and other security risks.
Razor’s Oracle network is more secure and efficient than traditional centralized oracle services, as it’s secured by a highly efficient Proof of Stake network for verifying data authenticity and ensuring maximum game-theoretical security.
Even more, Razor is blockchain-agnostic and can be easily integrated into smart contracts on a variety of blockchains. Through its robust, end-to-end solution, Razor Network aims to eliminate blockchain applications’ overreliance on centralized and unreliable data sources.
Due to the incompatibility of different formats, blockchains form isolated islands with their own users, dApps and assets, which makes it very difficult to move assets or data from one chain to another. Hence, only 3% of 2.5 trillion dollars is able to be used in DeFi. Hence trillions of dollars capital isn’t utilized.
Knit Finance is a unique decentralized protocol for creating cross-chain wrappers for the assets. With Knit Finance, users can deposit to insured custody and mint k assets which are 1:1 equivalent in value and are available on multiple chains for trading, staking for yield, lending and margin trading.
Interestingly, real-world assets like stocks, gold, and even fiat can be brought into the DeFi ecosystem using Knit’s wrapped K-Assets.
Knit guarantees maximum security of deposited collateral through traditional insurance. The protocol allows users to maximize DeFi yields with multi-chain APY optimization, as they can access wrappers for their entire portfolio on a single platform.
In this latest partnership, Knit Finance will integrate Razor Network’s (RAZOR) token on its multichain platform. This move will enable users to transact RAZOR tokens across multiple blockchains in a wrapped K-RAZOR using Knit’s cross-chain bridge enabling dex based trading, staking, lend, margin and borrow.
About Razor Network
Razor Network is a decentralized Oracle network, which provides secure and reliable real-world data feeds for various blockchain-based applications and services, such as Decentralized Finance, Identity, Insurance, Prediction Markets, and so on.
Razor Network provides data to smart contracts using Validators on a Proof of Stake network. Moreover, Razor is blockchain agnostic and can be easily integrated by developers working on a range of blockchain networks.
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 farming, lending, trading, and margin services through smart contracts. Knit bridges multiple non-Ethereum blockchains, allowing both crypto and real-world assets to move across these chains as wrapped tokens.
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