The partnership will allow Tidal users to provide decentralized insurance to Knit Finance users as they mint, stake, lend, borrow, and collateralize their native tokens.
By using the Tidal model, Knit Finance will be able to adequately protect the smart contracts created on it’s platform and develop a mechanism that provides additional yield as the insurance/their incentive can be built in.
About Knit Finance
Knit Finance is the next generation of DeFi protocol that aims to bridge multiple non-Ethereum chains with ERC20 in Phase 1. Any digital, lockable asset can be leveraged with Knit Finance by generating equivalent synthetic tokens in a 1:1 ratio, hence unlocking billions of dollars and trade access which can be censor proof.
About Tidal Finance
TIDAL is a Balancer-like insurance market built upon Polkadot that allows users to create custom insurance pools for one or more assets.
