Knit Finance brings Multichain Wrapped kEDG for Edgeware Ecosystem
Knit Finance and Edgeware are partnering to integrate EDG tokens into Knit Finance’s Multichain platform. The Knit Finance team has pioneered wrapping native tokens across different ecosystems and thus for this integration they will be developing Wrapped kEDG tokens.
Knit Finance is a unique decentralized protocol for creating cross-chain wrappers for the top-200 assets. With Knit Finance, users can deposit a supported token into Knit Finance’s insured custodial solution and then mint K-Tokens.
Through this partnership, Edgeware’s native token EDG will be integrated on Knit Finance’s multichain platform to allow the EDG token to be transacted across multiple independent blockchains in a wrapped kEDG token state.
Knit Finance’s wrapped kEDG tokens will also allow other projects from the Edgeware ecosystem to leverage the benefits of wrapped EDG across different blockchains supported by Knit Finance’s Multichain platform.
Wrapped kEDG tokens for Cross-Chain Transactions
Knit Finance allows users to maximize DeFi yields with multi-chain APY optimization. Knit users can maximize collateral security using the insured custody, and also 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 Edgeware’s native token EDG on its multi-chain platform. This will allow EDG tokens to be transacted across multiple independent blockchains in a wrapped kEDG token model.
Knit Finance’s Multichain platform is complimenting the Edgeware’s multichain approach and this partnership could potentially evolve further as per common shared vision in the future.
KnitFinance 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 tokens.
Official Website : https://knit.finance/
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Edgeware is a community-owned, fairly distributed, self-sustainable blockchain ecosystem built on Substrate with on-chain governance and a collectively managed treasury, enabling users to fund the chain’s development and teams to build projects.
Official Website : https://edgewa.re/
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Governance Forum : https://commonwealth.im/edgeware/