Harmony Partners with Knit Finance to Enable Synthetic Cross-chain Defi

Interoperable Synthetics for the Harmony Defi Ecosystem

Published in

Harmony

2 min readMay 17, 2021

Harmony is delighted to announce its partnership with Knit Finance, a Defi platform focused on cross-chain and multi-chain synthetic assets, making synthetics from multiple chains available for borrowing, lending, margin, and other financial use-cases.

This collaboration will enable the Harmony ONE token as well as all the assets on the Harmony chain to be used in other chains via Knit Finance as synthetic assets, increasing the breadth of utility for all Harmony assets and growing its Defi ecosystem.

AMA with Knit Finance

Be on the lookout for dates and times for an AMA we will be having with the Knit Finance team.

The Defi Ecosystem

I’m working on a higher-level document to explain the Harmony Defi strategy, our current Defi ecosystem, and why we’re doing what we’re doing. Be on the lookout for that.

About Harmony

Harmony is a sharding protocol with a trustless Ethereum bridge. Harmony developers can use Ethereum tooling such as Solidity and Ether.js. Users can also seamlessly swap Harmony and Ethereum assets. Harmony is able to achieve 2-second finality for fast transactions and is able to support 1000 delegating stakers for secure shards. Similar to layer 2 protocols, Harmony is now fully interoperable with the Ethereum ecosystem.

About Knit Finance

Knit Finance is a unique decentralized protocol that integrates its wrapped protocol across multiple chains, bridges, and real-world markets with yield, lend, trade, and margin services through smart contracts. KnitFinance bridges multiple non-Ethereum chains with wrapped tokens. Any asset can be leveraged within Ethereum DeFi and implemented into liquid lending and trading.