KNIT FINANCE AND OASIS PROTOCOL HAVE TEAMED TOGETHER TO INTEGRATE $ROSE WITH THEIR MULTICHAIN PLATFORM AND TO CREATE WRAPPED K-ROSE FOR CROSS-CHAIN TRANSACTIONS
The Oasis Protocol Foundation is pleased to announce a new partnership with Knit Finance to bring DeFi to the masses. The association will integrate Oasis Network’s ROSE tokens with Knit Finance’s Multichain platform and release packaged K-ROSE tokens that can be used for cross-chain transactions.
Oasis Network is a blockchain platform that provides data protection for open finance and responsible data management.
Knit Finance is a unique decentralized protocol that makes it easy to “ wrap” traditional and crypto assets into smart and secure contracts so they can be traded across multiple chains, bridges and real markets.
The Oasis Foundation and Knit Finance share the goal of opening DeFi to the masses and potentially unlocking trillions of dollars in assets.
Make Cross-Chain Transactions Efficient and Scalable
The Oasis Network ecosystem is an exceptionally scalable, versatile, efficient, and data-protective, decentralized Layer 1 blockchain solution. The network consists of two main architectural components, the consensus layer and the ParaTime layer.
The consensus layer is a powerful, scalable and secure proof-of-stake consensus driven by a decentralized set of validation nodes.
The ParaTime layer hosts many parallel runtimes (ParaTimes), which are independent computing environments that can be designed for different purposes. The consensus and paratime layers run in parallel and can handle up to 1000 transactions and paratimes per second.
The biggest benefits of the ecosystem are:
Scalability: The unique and custom scalability of the Oasis network is achieved through independent consensus and paratime layers, offering faster transaction speeds and higher performance than comparable networks.
Privacy first: The Oasis network has also developed Cipher, the first private and encrypted ParaTime to support secure smart contracts. These smart contracts can calculate confidentiality for transactions, meaning that no one can see the details of the transaction. This, among other things, prevents common DeFi issues like as bots front-running transactions or miners taking value (MEV).
Versatility: The architecture of the Oasis network helps enhance the range of applications that can be built using blockchain technology. Because each ParaTime is a separate development environment, it can be developed and expanded individually to meet the needs of a particular application for optimum development.
Advancing the goal of bringing DeFi to the masses
The Knit Finance protocol connects multiple crypto and real markets to provide convenient cross-chain wealth flow based on secure custody. Their aim is to free DeFi from the constraints imposed by the lack of interoperability in blockchain assets, thereby unlocking trillions of dollars of unstoppable assets in DeFi services. Knit believes that true DeFi is only possible with the free movement of assets through blockchains.
Knit Finance also allows real assets such as stocks, gold and fiat currencies to be included in the DeFi ecosystem. By bringing these capabilities to banks and crypto startups, Knit hopes to further accelerate the transition from centralized financial services to decentralized financial services.
About Knit Finance
Knit Finance is a decentralized system that unifies yield farming, lending, trading, and margin services using smart contracts across various chains, bridges, and real-world marketplaces. Knit connects various non-Ethereum blockchains, allowing crypto and real-world assets to be moved as wrapped tokens across them.
About Oasis Protocol
The Oasis Network is the first privacy-enabled blockchain network intended for the next generation of blockchain for open finance and a responsible data economy. With its high throughput and secure design, the Oasis Network can allow private, scalable DeFi, revolutionizing open finance and making it accessible to more people than only traders and early adopters. Its unique privacy features have the potential to reinvent DeFi and produce Tokenized Data, a new form of digital asset that will allow users to take custody of the data they generate and receive incentives for staking it with apps, culminating in the first-ever responsible data economy.