Knit Finance to Integrate Avalanche (AVAX) and Pangolin (PNG) Tokens Into Its Multichain Platform
Integration will unlock DeFi opportunities for AVAX and PNG holders across chains.
Knit Finance, a decentralized protocol for creating cross-chain wrappers for the top-200 assets, is integrating Avalanche into its platform. PNG, the native token of Pangolin, a community-driven decentralized exchange for Avalanche and Ethereum assets, will also be part of the initial integration.
Upon completion of the integration, which is expected to be completed by May, users can move wrapped AVAX and PNG tokens across multiple chains like Ethereum, Matic, Polkadot, BSC and more. Knit Finance’s wrapped assets will also be compatible with the Avalanche ecosystem, enabling more seamless liquidity transfer between networks.
Later when staking and lending services goes live on Knit Finance platform, Ava Labs and Knit Finance will explore grants to give rewards to platform users.
Wrapped K-AVAX and K-PNG tokens for Cross-Chain Transactions
Avalanche empowers fast, fair, and low-cost decentralized financial applications and assets to flourish. The platform is being bridged to all other leading blockchain platforms to foster a unified, interoperable ecosystem. It is the first decentralized smart contracts platform built for the scale of global finance, with near-instant transaction finality. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.
Knit Finance allows users to maximize DeFi yields with multi-chain APY optimization. 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.
Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one interoperable, highly scalable ecosystem. Avalanche is able to process 4,500+ transactions/second and instantly confirm transactions. Ethereum developers can quickly build on Avalanche as Solidity works out-of-the-box.
About Knit Finance
Knit Finance 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.
Knit Finance to Integrate Avalanche (AVAX) and Pangolin (PNG) Tokens Into Its Multichain Platform was originally published in Avalanche on Medium, where people are continuing the conversation by highlighting and responding to this story.