Knit Finance attaining great progress has had quite a number of AMAs sessions with a few crypto telegram communities and in this article, it was an AMA with the Crypto Infinity Telegram Community which is a marketing support team for Cryptocurrencies, Ama, bounty, airdrop, advertisement, ICO, trade, and more!
The AMA session between Crypto Infinity and Knit Finance happened on the 24th of February 2021, and it was held in the Crypto Infinity x telegram channel with a whopping reward pool of $100.
Venue: https://t.co/of0nlKpq4d
The AMA was split into 3 sections, giving rooms to create massive participation between the telegram community and the Twitter community. The path taken for the AMA is as follows:
Section 1: Knit Finance Introduction, Updates, and Use Cases
Section 2: Questions from Twitter
Section 3: Telegram direct questions
Section 1
This section entails more about the Knit Finance projects, a summary of how it got established, updates, and use cases. The conversation was thus:
Moderator | Crypto_Infinity: Could you please introduce yourself, Sainath?
Sainath: I am Sainath g, made India’s first mobile pos Aasaanpay in 2011
been a successful fintech entrepreneur since then now I am CEO for KnitFinance where we want to enable DeFi on multiple chains.
Q1: What is your long-term vision about the industry which Knit Finance project is working at ? Cryptocurrency industry is always thriving, what plans do you have to keep up with technology trends?
Sainath: Interesting, our vision is to enable Defi on every chain possible. We keep updated about ourselves by constantly taking feedback from users
Q2: What will happen if Knit Finance smart contract is hacked, will user funds be safe? What is Knit Finance prepared about this?
Sainath: We are getting it audited by some of the best guys in the industry, in our version 1, custodians hold the collateralized funds hence they will be safe, also they will be insured
Q3: Can you tell the Outstanding differences that make the Knit Finance project Different from other projects?
Sainath: Ours is an ultra-low cap, going to be on multiple chains and going to support multiple coins/assets hence have many advantages
Q4: What are the steps to contribute to Knit Finance? And what benefits can I get from doing it? What incentives can you offer to people who contribute?
Sainath: We are looking for great ambassadors who can help us penetrate deeper into the community, KFT token holders will also get early access to many products early on
Section 2
This section involves interaction/questions gotten from the Twitter community.
Q1: Currently farming is very popular with crypto people. but what about the farming system in KNIT finance. Is there a time limit and token lock when we are farming and how do you convince us that it is safe to farm in KNIT finance.?
Sainath: Our idea is to support farming on top of our KFT tokens and synthetics with no limit or lock if possible
Q2: I want to ask, Which one the most important for you in developing the community and increasing the value of the project? Which one that Will you do first?
Sainath: Loyal Community is important for long term growth of the project, hence community is the first priority
Q3: Staking is the new trend. What staking options are available for KNIT FINANCE Token? Are there any incentives for staking? What are the various ways to earn the KNIT FINANCE token and are there any limits to the amount of $KFT I can earn?
Sainath: You can stake both Knit tokens and knit synthetics making it win-win for all. there is no limit
Q4: Do you have plans to build partnerships with local cryptocurrency developers and local projects in each country to take advantage of the token more globally?
Sainath: Yes, if the community is interested and law permits we will definitely be interested
Q5: Knit Finance recently partnership with Paralink network. What is the main reason behind the partnership with the Paralink network? what kinds of positive results can we expect from this partnership?
Sainath: Being synthetics, we need to have various data feeds from third parties for the users to sure of our assets hence synthetics helps us with the same.
Section 2
This floor was given to the crypto infinity telegram community members to throw in their questions and answers were given
Q1: Can you briefly explain how the structure and model of KNIT.Finance is composed in order to offer the power of non-Ethereum tokens with the flexibility of an ERC20 token?
Sainath: We at Knit. Finance provides the ability for any token ( crypto)/ asset ( Capital like Tesla shares) to be available on any chain using bridges and synthetics 1:1 collateralized. Do lookout for more details on https://t.me/knitfinanceann
Q2: I want to make a long-term investment in your KNIT FINANCE project but I have doubts at the moment, how can you convince and convince me that this project is very promising?
Sainath: Listen to your heart
I am sure you will be convincedQ3: Security is of course essential for KNIT.Finance, but I would like to know what kind of security you offer users in the smart contracts that your project manages.
Sainath: It has multifold security and it's audited initially on dex, then on CEX.
Q4: DeFi is one of the hottest topics in the blockchain space right now. Can you share your opinions on DeFi with us? Do you think that DeFi will disrupt the existing financial system? What is Knit Finance's approach towards the DeFi sector?
Sainath: We are very confident that we will disrupt the market very well
Q5: How does the team perceive retail investors KNIT token holders? Where do you see value in ‘us’ and what could we do to support your work most effectively?
Sainath: Their trust is our source of inspiration, we value their feedback a lot as they would our early adopters
Q6: Tell us about your plans for 2020, what are you currently working on, and are you going to expand the list of big exchanges? No one can achieve anything valuable on their own, please tell us about your current and future partnerships that will lead you to success in this highly cramped crypto space?
Sainath: We are in 2021
Please watch out for our announcements in https://t.me/knitfinanceann
Closing Remarks by the Crypto Infinity x Telegram Moderator
We have come to the conclusion of this AMA session.
About Knit Finance
KNIT.Finance unlocks the entire crypto ecosystem to DeFi using cross-chain synthetics and bridges. Existing DeFi protocols determine which tokens and projects get to participate. KNIT Finance’s decentralized protocol leverages smart contracts to combine DeFi pools with billions of assets from non-ERC-20 chains. By creating a standard for non-ERC-20 coins to convert to synthetic ERC-20 tokens, KNIT Finance opens up an entire world of new possibilities.
For More Information about Knit Finance:
Website: https://knit.finance/
Telegram Group: https://t.me/UniLendFinance
Twitter: https://twitter.com/KnitFinance
Medium: http://knitfinance.medium.com/
