For those, who somehow missed on the important information, here’s the AMA Recap with Knit Finance CEO, Sainath Gupta.

The AMA occurred on March 5, 2021 with OpenDeFi Community.

Let’s ride in!

CryptoKen: Pleasure to have @SainathG – CEO and Co-founder of Knit Finance with us for an AMA here! Hello and Welcome to OpenDefi by OroPocket Community.

[email protected] Unlocking True MultiChain Defi: It’s my pleasure.

CryptoKen: We are good to go now!

As our first question is an introductory one, let’s start with it.

Before starting the AMA, can you give us a brief introduction about yourself and Knit Finance @SainathG?

[email protected] Unlocking True MultiChain Defi: Hi guys I am Sainath G, made India’s first mobile pos Aasaanpay in 2011.

Have been a successful fintech entrepreneur with a decade + experience.

Knit.Finance is a multi-chain synthetic DeFi protocol which bridges the gap between DeFi and Multiple Chains which have billions of dollars in locked state.

We observed the problem when we thought that if we wanted to use non-erc20 tokens in DeFi or ERC 20 tokens in other chains, We saw our options were limited. Sadly in the market there are almost no solutions available which we wanted to address.

Hence the start of Knit.Finance.

Initial plan launch is in Binance Smart Chain and then Polka dot.

CryptoKen: Whoah! What an awesome achievement you have there!

[email protected] Unlocking True MultiChain Defi: thank you

CryptoKen: You are welcome! 🥳

Pleasure to have you here, and thanks for the quick intro @SainathG.

Let’s move to the second question.

Can you please evaluate the Knit tokenomics for our users ? Regarding the use cases and even what happened during token launch? @SainathG.

[email protected] Unlocking True MultiChain Defi: Sure

CryptoKen: We would love to hear it!

[email protected] Unlocking True MultiChain Defi: We are ultra low cap and raised 1 million at $7.4 valuation.

Had $4 million in commitments though.

Knitfinance token is called kft and it’s an utility token. Most in private are locked.

One can get it in public round or by staking our synthetics.

CryptoKen: That’s insane figures! Congratulations for a job well done .

[email protected] Unlocking True MultiChain Defi: Thank you!

CryptoKen: Let’s go to the next question!

In connection to these awesome figures and commitments – investors would normally check and verify team member’s credibility especially in this industry.

Can you please tell us about the team behind the Knit Finance?

@SainathG

[email protected].Finance Unlocking True MultiChain Defi: We have an highly experienced team to avoid common mistakes, few of them developed exchanges before. Tech team experience is 20 years and business team is another 20 years.

I have been a coder and business guy : so another 10 years on both sides please 🙂

CryptoKen: This is what an awesome project should be in the cryptocurrency industry!

[email protected] Unlocking True MultiChain Defi: Hopefully, great team to target multi billion dollar opportunities.

CryptoKen: That’s a combined of half a century experience.

We are in an exponentially growing industry! And that is surely achievable! 

Just a quick reminder for our community and viewers at the moment:

We will have a quick quiz about the project. First 5 accurate – correct & fast will be the winners. After the next question with Mr. @SainathG, I will post the google form here and will give you guys 5 minutes to answer. Then the form will be closed!

We at OroPocket are honored to be partnered with Knit Finance!

With that, how will this partnership with Oropocket will help the users of both Oropocket and Knit finance? @SainathG

[email protected] Unlocking True MultiChain Defi: OroPocket offerings using our solution will be available on multiple chains like Polkadot, Binance Smart Chain…et al the honour is ours.

CryptoKen: Simple answer yet on-point!

If you wouldn’t mind @SainathG?

Let’s have a quick quiz: (Will run for 5 minutes)

CryptoKen: Let’s get back to questions for now Mr. @SainathG

Can you explain in simple language how cross-chain bridges are going to work?

[email protected] Unlocking True MultiChain Defi: Our swap protocol works in three simple steps.

1) Go to our swap page.

2) Select the token and synthetic you want on which chain and input your address.

3) Do the deposit, once it’s confirmed automatically the synthetic will be issued for the user. Vice versa to get back your original token as well.

CryptoKen: That’s pretty insane! That simple?

[email protected] Unlocking True MultiChain Defi: Yes please.

CryptoKen: Awesome! I think let’s go ahead now for the last two questions

There are few other projects working on synthetics, so can you briefly describe KnitFinance and what makes KnitFinance unique from other projects?

[email protected] Unlocking True MultiChain Defi: Our vision is to enable DeFi on multiple chains, our execution is matching our vision thanks to a great team , some of the things that make us special are:

1) Multi Chain support

2) Multiple assets of Crypto support

3) Multiple classes of assets support

CryptoKen: Very straight-forward and exciting to see the result of the development! Congratulations in advance! :clap:🥳

Moving on to our last question!

(Reminder: Community will be unmuted after this question. Be Ready!)

How will knit finance build trust and competitiveness especially to the community given that developments on defi space have been advancing one step at a time? What are your plans for the next couple of years?

[email protected] Unlocking True MultiChain Defi: Our idea is to be close to the community, figure out the right synthetics on the right platform, try getting innovative assets that will get good traction, incentivize users to use our synths where possible.

Our road map is for 5 years.

Currently only posted for one, will post bigger one after we launch.

CryptoKen: Looking forward to sharing that to this community as an out partnered project!

Alright!

Now we will be opening the chat for the community members to ask the questions.

Hope you are ready for this @SainathG!

[email protected] Unlocking True MultiChain Defi: Fingers crossed.

KYC: What are your thoughts on the current myth that NFT is the future of DeFi? Do you think it’s viable and do you have plans for tapping into the digital art marketplace?

@SainathG

[email protected] Unlocking True MultiChain Defi: DeFi changes fast

so can’t comment on the same much. Our idea is to support fungible tokens on multiple chains, in version 3, we might support NFTs as well.

CryptoKen: Hey guys!

Needed to mute you in a bit 🥳 We are really overwhelm to the support! Please do the honor now @SainathG.

[email protected] Unlocking True MultiChain Defi: We observed the problem when we thought what if we wanted to use non-erc20 tokens in DeFi or ERC 20 tokens in other chains, We saw our options were limited. Sadly in the market there are almost no solutions available which we wanted to address.

Hence the start of Knit.Finance.

At KnitFinance prime focus is to help everything secured, we have an highly experienced team to avoid mistakes, few of them developed exchanges before.

We are getting our code audited as well.

Also, we are being insured on tidal as well to make users feel safe about their funds.

CryptoKen: Thank you

[email protected] Unlocking True MultiChain Defi: Yes.

Its grass roots and global at the same time.

Build a loyal community.

Unlock Billion dollars worth of assets.

Launch on 4 chains before Dec 21.

Our vision is to enable DeFi on multiple chains, our execution is matching our vision thanks to a great team , some of the things that make us special are:

1) Multi Chain support

2) Multiple assets of Crypto support

3) Multiple classes of assets support

CryptoKen: Many win win partnerships are in pipeline.

Just an hour ago we announced a partnership with elrond.

https://knitfinance.medium.com/knit-finance-elrond-interoperable-synthetics-1d036abda366

[email protected] Unlocking True MultiChain Defi: Thanks @jkenph

CryptoKen: You are welcome!

Munaf Munna: Hello

Priyanshu Sharma: Great AMA

Thanks sir.

[email protected] Unlocking True MultiChain Defi: Thanks @Priyanshu0021

CryptoKen: Well the community round was really Amazing!

Got to know a lot about Knit Finance and their upcoming milestones.

With this, we will end today’s AMA with the @SainathG – Knit Finance CEO

This was interesting!

Thank you for your time @SainathG, it was a pleasure having you with us today.

CryptoKen: Don’t forget to share the socials. @SainathG:

[email protected] Unlocking True MultiChain Defi: @jkenph thanks for having me

great active community i should say

CryptoKen: Seems like the bot is a mess

We are sorry for that!

[email protected] Unlocking True MultiChain Defi: @jkenph your bot keeps deleting our socials link.

Yeah.

No issues.

CryptoKen: You can find updates about us : https://t.me/knitfinanceann

Join our ever growing community  https://t.me/knitfinance

Munaf Munna: I want to know, What all real world assets can be tokenized at KnitFinance?

[email protected] Unlocking True MultiChain Defi: @Munna9030 current stocks, bullion

Future some more interesting stuff.

CryptoKen: Indeed a great pleasure with you @SainathG!

Don’t forget to join https://t.me/knitfinance for any further questions about Knit Finance.

Thank you once again.

[email protected] Unlocking True MultiChain Defi: Thanks everyone once again.

CryptoKen: You can find updates about us : https://t.me/knitfinanceann

Join our ever growing community  https://t.me/knitfinance.

Priyanshu Sharma: How many partners currently have trusted Knit Finance technology and what benefits do these partners bring to Knit Finance vice versa?

CryptoKen: Thank you everyone for your participation.


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