As we near the SHO on DAO Maker on 17th May, here’s an exciting update we don’t want you to miss: We successfully raised $1 million in our recent fundraising round. With this, we have achieved another milestone in our journey to provide cross-chain wrappers for the top-200 assets.
KnitFinance Fundraising Round
We are glad to share that our fundraising round attracted attention from prominent investors who made significant contributions and helped us raise a total of $1 million in very quick time. Some of the lead investors in this round are Dao Maker, AU21 Capital, LD Capital, Orion, x21, Nabais Capital, Insight Capital, Momentum 6, Bitcoin.com, pSquare Capital, TRG Capital, Chronos Ventures. It also includes CXOs of many big projects as investors.
Apart from supporting KnitFinance with capital, our investors have collaborated with us to bootstrap liquidity on DeFi exchange platforms like Uniswap to ensure a better and smoother user experience from the start. Partnering with our investors will also enable us to enhance our engagement with our community and industry on both regional and global scales. Such joint ventures will help KnitFinance spread awareness about the protocol, its features, and mission worldwide.
Celebrating our progress, we would also like to announce that 30 more renowned projects have formed a strategic alliance with KnitFinance. Some of these projects are multi-billion dollar cap, and official announcements regarding these partnerships will soon be public.
Knit is a protocol for creating cross-chain wrappers for the top-200 assets. Users can deposit to get insured custody and mint k assets. KnitFinance maximizes DeFi yields with its multi-chain APY optimization, ensures collateral security with its insured custody, and allows users access to its wrappers for their entire portfolio. All the features of this platform enhance user experience and bridge DeFi on Multiple Chains by bringing multiple assets to every compatible blockchain network. Knit’s asset locking feature allows insurance up to $350 million that helps to bring real-world and reliable insurance into DeFi.
Thus, KnitFinance holds the power to enable the next wave of liquidity; real-world assets are expected worth nearly a trillion dollars to enter the DeFi world onto multiple chains.
KnitFinance Future Plans
KnitFinance is working towards elevating the financial inclusion quotient of DeFi to much higher levels. This step will help to reduce the entry barriers and asset risk for potential users. It is a 100% decentralized process. It will also depend on user consensus for governance.
We are also planning to list our K tokens (KnitFinance tokens : KFT ) on some of the top-tier centralized crypto exchanges like Binance, Huobi Global, OKEx, etc. The primary aim is to enhance the global liquidity of Knit tokens and wrapped assets in the upcoming times.
With a team of highly talented and experienced veterans of the Crypto industry, we are sure to achieve our mission and goals. Our team is working day and night to simplify our user experience by introducing better and more advanced features on our platform to amplify our mission. The Beta version of our Product is live since December that is supporting wrapped assets on five chains already.
With the support of our supportive community, investors, and partners, we are all set to take steps that unlock the true potential of DeFi.
Join our social channels for more updates:
Telegram community: https://t.me/knitfinance
Announcements channel: https://t.me/knitfinanceann