DeFi News - Knit Finance and Kyber Network are teaming up for a strategic collab.
- The collab will create market options and boost liquidity for both platforms’ assets.
- Both networks’ assets will also be able to operate on multi-chain.
Decentralized Protocol Knit Finance is teaming up with Kyber Network, a liquidity hub, for a strategic partnership. This collaboration will see the latter’s native token integrated into the Knit Finance multi-chain platform.
Moreover, the partnership will create market options and boost liquidity for both assets. Knit Finance will also add liquidity for its own tokens on Kyber DMM, a next-gen AMM protocol. As such, it offers substantial flexibility and extremely high capital efficiency.
Kyber Network enables DApps, aggregators, decentralized exchanges (DEXs), and other users easy access to a range of liquidity pools that provide the best rates. This way, it works on solving the liquidity issue in the DeFi industry. Knit Finance, on the other hand, is itself the next generation of DeFi protocols aiming to bridge non-Ethereum chains with ERC20 in Phase 1.
The collab will also allow Kyber Network to use Knit Finance’s cross-chain interoperability. Its native KNC tokens can use these for transacting across multiple blockchains in a wrapped K-KNC token model.
With Kyber and Knit Finance coming together, both assets will be able to operate on a multi-chain. They can create market options and boost liquidity. Knit Finance Token and Synthetic Tokens will also be listed on Kyber Network through the extremely flexible and capital-efficient Kyber DMM protocol.
Source: https://coinquora.com/knit-finance-and-kyber-network-team-up-for-liquidity-solutions/