PAID is proud to announce its partnership with Knit Finance, a next generation DeFi based protocol that allows any digital, lockable asset to be leveraged, wrapped and minted as a K token on a 1:1 ratio.
This new partnership will open many doors for PAID, giving it access to cross-chain interoperability where the PAID token will be wrapped as K-PAID and transacted across multiple independent blockchains. In turn, Knit Finance will adopt PAID’s SMART Agreement technology and apply it to streamline backend processes and improve overall efficiency.
Sainath Gupta, CEO of Knit Finance said:
“We have always ensured a convenient experience for our users, and this collaboration with PAID Network will further enhance our efforts to make our user experience the best. Our users will enjoy the benefits of PAID Network’s DeFi powered SMART Agreements while leveraging, wrapping, and minting digital and lockable assets. With PAID Network, we hope to explore more domains of DeFi and blockchain technology.”
The new partnership will join two prominent and unique projects together to utilize and enhance the power of DeFi technology as a whole.
For PAID Network and its global community, there will undoubtedly be many new benefits and possibilities that come with having PAID available as K-PAID to users of different blockchains.
For Knit Finance, it is an excellent opportunity to explore PAID SMART Agreements as a means to make their business agreements exponentially more efficient.
Kyle Chasse, CEO of PAID Network, had the following to say:
“PAID and Ignition both practice and preach interoperability, so to see Knit Finance come into the space and enhance the ERC20 ecosystem the way they do, is more than exciting. We also love the way they assist in connecting the industry further through enhanced interoperability.
This partnership brings that value to our community and will create massive DeFi opps for $PAID holders. Allowing our community to access K-PAID and the corresponding blockchains and DeFi opportunities, is massive.
The interest we have seen so far in the commercial applications of PAID and our business legal toolkit has even surpassed our own expectations. Everyday more and more companies are reaching out to us for future integration and/ customization for their specific use cases and to form this partnership with Knit Finance, is another opportunity for us to showcase our solution.
It’s great to see the industry come together through these partnerships and work with one another to test, use and prove these new systems and technologies.”
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 wrapped tokens in a 1:1 ratio, hence unlocking billions of dollars and trade access which can be censor proof.
About PAID Network
PAID Network seeks to redefine the current business contract, litigation, and settlement process by providing a simple, attorney-free, and cost-friendly DApp for users and businesses to ensure they #GetPAID. Leveraging Plasm to operate on both Ethereum and Polkadot ecosystems, SMART Agreements built through smart contracts execute DeFi transactions and business agreements seamlessly, making business exponentially more efficient.
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