Groestlcoin (GRS) Collaborates with KNIT Finance
We are excited to announce that we are working with KNIT Finance to enable tokenization of $GRS assets on Ethereum, BSC, Matic and Moonbeam.
TL;DR
Groestlcoin (GRS) introduces kGRS, the 1:1 backed Groestlcoin smart-token. Powered by Ethereum, BSC, Matic and Moonbeam.
KnitFinance will give $GRS holders the ability to use the token as a payment instrument in their market place. Groestlcoin will use KnitFinance’s multi-chain solution for getting GRS coins on multiple chains.
Main Article
Groestlcoin — an old-school cryptocurrency for the modern era.
By its very definition, Groestlcoin is primarily a decentralised financial cryptocurrency, however, DeFi (decentralised finance) is a little different.
Smart contract DeFi applications can be customised to individual needs and requirements. Say you want to send some cryptocurrency to another wallet on the 16th of April, but only if your balance is higher than a certain value, this is made possible with DeFi smart contracts.
Typically, the term DeFi is reserved for Ethereum ERC20 tokens, so Groestlcoin and other traditional cryptocurrencies have missed out on the benefits of the functionality DeFi brings with it.
KnitFinance and Groestlcoin — redefining DeFi
Groestlcoin is being integrated into Knit Finance. Knit Finance will bridge the Groestlcoin chain with wrapped tokens on Ethereum, BSC, Matic and Moonbeam.
Using cross-chain synthetics and bridges, any asset can be leveraged within Ethereum, BSC, Matic and Moonbeam DeFi and implemented into real-world markets with yield, lend, trade and margin services through smart contracts.
The Groestlcoin tokens ($K-GRS) are 100% verifiably backed 1:1 with the main Groestlcoin $GRS currency. Knit Finance also provides a way for the GRS to be used on any other chain.
KnitFinance provides a way for any token to be used on any other chain.
KnitFinance will allow the Groestlcoin community to yield, lend, margin and trade services on any supported DeFi platform, and can be used to provide liquidity to supported DeFi platforms.
This collaboration is important for the $GRS ecosystem because it allows $GRS owners to leverage their holdings in DeFi opportunities on Ethereum, BSC, Matic and Moonbeam, enabling them to access a more diverse product landscape.
To test the $GRS tokenisation on ETH/BSC/Matic/Moonbeam testnet, click here.
Knit Finance Website:
Knit Finance Social:
https://www.twitter.com/KnitFinance
Note: A full instructional video and further material will follow within the next few days, and this post will be updated to include this.
