Knit Finance partners with FinNexus to Develop Wrapped K-FNX tokens for its Multichain Platform

By KnitFinance | KnitFinance | 10 May 2021


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Knit Finance is excited to announce its partnership with FinNexus. FinNexus is building a suite of open finance protocol clusters that will power hybrid marketplaces trading both decentralized and traditional financial products.

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.

Through this partnership, FinNexus will be integrated on Knit Finance’s multichain platform to allow its native FNX token to be transacted across multiple independent blockchains in a wrapped K-FNX token format enabling dex based trading, staking, lend, margin and borrow.

Wrapped K-FNX tokens for Cross-Chain Transactions

FinNexus is building cross-chain protocols on DeFi options and other derivatives. It is the most versatile DeFi options platform. Its main product is FinNexus Options, which makes it easy to buy and exercise BTC, ETH, LINK, SNX, and MKR options in a secure and decentralized way on Ethereum & Wanchain.

Knit Finance allows users to maximize DeFi yields. Knit users can maximize collateral security using the insured custody, and access wrappers for their entire portfolio. Knit Finance enables the k standard for tokens, which is a token wrapper for assets held in insured custody.

Knit Finance’s exciting collaboration will involve the integration of FinNexus native token FNX on its multi-chain platform. This will involve the development of wrapped K-FNX tokens which can be transacted across multiple independent blockchains opening up a whole new world of possibilities. .

About Knit Finance

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.

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.

About FinNexus

FinNexus is building a suite of open finance protocol clusters that will power hybrid marketplaces trading both decentralized and traditional financial products. The headline product released is a fully decentralized options model with pooled liquidity, live on both Ethereum and Wanchain.

KnitFinance :

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KnitFinance
KnitFinance

KnitFinance is an unique decentralized protocol that combines synthetics across multiple chains, Bridges, and real world markets with yield, lend, trade and margin services through smart contracts. This also gives cross chain liquidity aggregation in a Co


KnitFinance
KnitFinance

Unlocking True Potential of Multichain DeFi https://t.me/knitfinance https://twitter.com/KnitFinance

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