Knit Finance has teamed up with Dash to create wrapped K-DASH tokens, as well as enable Cross Chain Transactions, staking, and yield on the Dash cryptocurrency
Excited to announce that Knit Finance is cooperating with Dash, a cryptocurrency that aims to provide a decentralized worldwide payments network at a low cost. Dash aspires to be a better version of Bitcoin (BTC) by offering more privacy and faster transactions.
Knit Finance is a decentralized system that allows you to create cross-chain wrappers for the top 200 assets. Knit Finance allows users to deposit to insured custody and mint k assets, which are 1:1 equivalent in value and may be traded, staked for yield, lending, and margin trading on different chains.
DASH will be incorporated into Knit Finance’s multi-chain platform, and wrapped K-DASH tokens will be generated as a result of this relationship. Dash and Knit Finance will also collaborate to increase user marketing awareness.
Wrapped K-DASH tokens for Cross Chain Transactions
Since its inception in 2014, Dash has grown to become the most popular cryptocurrency for everyday transactions, thanks to a large merchant network that offers great value to its consumers.
Knit Finance’s multi-chain APY optimization lets users to optimize DeFi yields. Knit users can employ insured custody to increase collateral security and gain access to wrappers for their whole portfolio. Knit Finance supports the k token standard, which is a token wrapper for assets maintained under insured custody.
The exciting collaboration between Knit Finance and Dash will involve the integration of Dash on Knit Finance’s multi-chain platform. In a wrapped K-DASH token paradigm, this will allow DASH tokens to be transacted across many separate blockchains.
Dash and Knit Finance will also collaborate to synergize their technologies and use their respective networks to raise user awareness of marketing opportunities. Dash has always been focused on user experience and giving value to people, says Felix Mago, Co-Founder of Dash. Working with Knit Finance is a fantastic chance for both projects to add additional value to a blockchain ecosystem as it transitions to cross-chain solutions.
About Knit Finance
Knit Finance is a decentralized technology that allows users to create cross-chain wrappers for key assets. It provides all-chains bridges to ensure asset fluidity between chains and allows institutions, developers, farmers, and traders to mint Knit’s k tokens from trusted custody. Making previously unavailable assets available to trade on the chain you love in a secure and simple manner.
Dash is a digital currency that allows anybody, wherever in the world, to make rapid, convenient, and low-cost payments at any time, without the need for a central authority. Dash is a safe and user-friendly payment system that is based on a decentralized peer-to-peer network and safeguarded by powerful cryptography. Dash is a digital currency that is portable, affordable, divisible, and quick for use on the internet and in everyday life.