Knit Finance Testnet Launch on Polygon and Ethereum Test Network
We are thrilled to announce our Testnet officially being launched on 2 networks viz. Polygon and Ethereum.
Users can now try the transfer of K-Assets across Ethereum and Polygon .
KnitFinance platform has been rapidly growing with more than 25+ partnership announcements, where partners’ tokens can be traded across multi chains, with custodian insured.
Knit Finance has planned to incentivece users with best interest for Lending, Staking, Browning, and Margin trading.
Function’s of our Testnet :
Our testnet is the beta version of our full product. With our testnet we are aiming to demonstrate what we have achieved in the development of our product.
With our testnet, users can mint the K-Assets, withdraw the K-Asset and swap the K-Asset on Ethereum and Matic/Polygon networks.
In KnitFinance testnet users can wrap their native asset into K standard kAsset , when the user sends funds 1:1 collateralized wrapped kAsset is issued . Below is the procedure to wrap the native token and kToken
Knit finance offers the facility to swap the kAsset to other networks , as of now Knitfinance is supporting two testnet chains Rinkeby and matic mumbai
User can swap their kToken to other chain using the below procedure :-
Users can unwrap their kAsset to get back their native token , when the user unwraps their kAssets, kAsset are burned and 1:1 collateralized native asset is sent to the user’s wallets.
User can use the procedure given below to wrap the kAsset :-
Knit Finance has raised $1 Million in Funding to Pave the Way for a Trillion Dollar DeFi Market.
The lead investors of this round included Dao Maker, AU21 Capital, LD Capital, Orion, x21, Nabais Capital, Insight Capital, Momentum 6, Bitcoin.com, pSquare Capital, Chronos Ventures, and also includes CXOs of many big projects as investors. The fundraising attracted immense participation, leading to more than 50 x commitments.
Knit Finance is supported by huge community followers across various social channels. It has grown to over 41K Followers on twitter and over 42K members on Telegram group and many followers across various social channels.
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-Assets.
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