Welcome to Injective’s February update!
This month was packed with more milestones and as always, we’re in awe of the continued support we’ve received from our community across the globe.
To kick things off we launched Equinox Staking to serve as the highly anticipated final phase of our testnet prior to mainnet release. We welcomed a number of world-class genesis validators onto Equinox Staking, partnered with major DeFi players, and hosted panels with top projects in DeFi today.
Below you’ll find some of our proudest achievements from the past month, and where we’re headed next.
- We launched Equinox Staking as the final Injective testnet. We introduced a robust staking reward structure and published an exclusive first look at the staking dashboard and waitlist.
- We onboarded prominent genesis validators including Huobi Pool, Stakewithus and Chorus.
- We locked in key collaborations with Huobi Eco Chain, Avalanche, Ocean Protocol, Conflux, Covalent, and Marlin Protocol.
- We participated in Binance Blockchain Week. We also hosted discussions on various aspects of DeFi with AllianceBlock, UniLend, Covalent, and Ramp DeFi. We also hosted our first-ever Reddit AMA with Kava.
- We continued to roll out new pieces on Injective Learn to prepare our community for staking, while also beginning to post video overviews on Injective.
1. The Final Injective Testnet: Equinox Staking
As the final version of our testnet before mainnet release, we introduced Equinox Staking. This marks perhaps our most significant launch to date.
This milestone will enable users to gain early access to Injective’s staking features while also allowing them to earn rewards for helping to test the capabilities of the protocol itself. We designed our staking testnet quite differently from other protocols in that users will not only be able to stake but also take part in various forms of governance. In addition, users will be able to propose and launch entirely new markets for trading.
As a first step in our Equinox rollout, we publicly invited validators to onboard, targeting our focus on some of the largest validators within the crypto ecosystem.This will help us to better decentralize the network while also testing the security parameters of our protocol itself.
We then published a detailed reward structure based on a comprehensive analysis of Injective’s staking process. The design consists of both baseline APY and APY boosts, which help incentivize our community members and delegators to take part in more than just the simple staking process.
Finally this month, we published the first glimpse of our staking dashboard and waitlist, enabling users to gain first-hand access to Equinox when it officially is released in March.
You can access our dashboard here.
2. Leading Validators Join Equinox Staking
Leading validators from across the globe officially joined Injective’s Equinox Staking testnet as genesis validators. These validators currently help to stake billions in assets for top projects such as Cosmos, Band Protocol, Elrond, Polkadot, Terra, Solana, and many others.
Our genesis validators will be instrumental as we go on to test robust parameters of our network before our mainnet launch, such as reward distribution and network security.
Below you will find highlights about a few validators.
Huobi Pool is officially joining Injective as an official genesis validator for our Equinox staking testnet.
Huobi Pool is part of Huobi Global which is currently a leading crypto exchange that manages billions of dollars in volume on a daily basis. Huobi only acts as a validator for leading projects in the space such as Aave and Polkadot, so Injective being selected is an incredible show of support for our project.
Singapore government-backed validator Stakewith.us joined Injective as our first ever genesis validator. Stakewith.us provides secured yield solutions for crypto asset investors and we are proud to join forces with them on our journey to build the most robust decentralized derivatives exchange.
Chorus One, one of the largest European validators, joined a promising cohort of genesis validators on Injective. This furthers our mission to truly decentralize Injective moving forward. We will be working closely with Chorus One both to expand our staking capabilities and to test the security features of Injective.
3. Partnerships & Integrations
This month saw a number of key partnerships and integrations that will undoubtedly aid us in further bolstering our network.
We will integrate with Avalanche to create a diverse array of interoperable derivative products.
Injective will integrate with the newly released Avalanche-Ethereum Bridge (AEB) to create a two-way transfer zone between the Injective Chain and Avalanche.
With this integration, Injective will launch derivatives that utilize the native Avalanche token (AVAX) as well as other native Avalanche assets. Injective will also explore the addition of entirely new derivative products, such as products related to Initial Litigation Offerings (ILOs), that can greatly aid in expanding the reach of DeFi and derivatives globally.
Injective is integrating with Huobi Eco Chain to accelerate cross-chain derivatives adoption. This collaboration will enable traders to seamlessly bridge over Heco assets onto Injective, enabling the creation of new derivative products. In addition, Injective will become the first project to introduce decentralized derivatives trading to the Heco ecosystem.
We partnered with Ocean Protocol to create innovative data derivative products. Moving forward, this will enable our users to both create and trade on new derivative markets that utilize the data products deployed on Ocean.
We partnered with Conflux to expand our cross-chain derivatives trading universe. This collaboration will be primarily focused on bridging over assets deployed on Conflux onto our exchange in order to aid in the creation and trading of new derivative products. The project is led by Turing Award recipient Dr. Andrew Yao and is backed by the likes of Sequoia China and Baidu Ventures.
We locked in a partnership with Marlin Protocol to enable truly unparalleled trading speeds on our derivatives DEX. Marlin is a unique layer 0 protocol that allows blockchain-based networks to achieve higher scalability and throughput. The team is also a fellow Binance Labs portfolio company and is backed by leading VCs such as Electric Capital.
We partnered with Covalent to bolster our on-chain data analytics. At the heart of this partnership is the user. By partnering with Covalent, we will gain further access to real-time and granular blockchain data.
4. Panels with Major Players within DeFi
This month we hosted a number of talks and panels to ramp up our community across the globe.
Binance Blockchain Week Panel on The Future of Crypto Exchanges
Bridging Traditional Finance and DeFi: AllianceBlock and Injective Protocol
DeFi and Lending: UniLend and Injective Protocol
DeFi, DEXs, and Data: Covalent and Injective Protocol
Live panel on DeFi and Staking: TomoChain, Ramp DeFi and Injective Protocol
Other community touch points included our first-ever Reddit AMA with Kava about DeFi, Cosmos, and IBC.
5. Injective Learn
We continued to publish guides and tutorials on our Injective Learn blog and expanded our educational material onto YouTube. We focused on new pieces that delve into staking to prepare our community for the Equinox launch.
We couldn’t have made it to phase 3 of our Solstice testnet without the steadfast support of our rapidly growing community. We can’t wait to bring you more updates next month as we continue to expand Injective’s global footprint and move towards the release of Equinox Staking.
About Injective Protocol
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing. Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.