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.
Heco is a new public chain developed by Huobi that enables seamless smart contract integrations. Since its inception only a few months ago, the blockchain has already processed over 20 million transactions with over $1 Billion in locked assets.
The project’s unified infrastructure platform is based on the technical and community resources of the Huobi Group. Heco utilizes the novel HPoS consensus mechanism with low transaction cost, low transaction delays, and high transaction concurrency. Additionally, the Heco meta transaction function reduces the gas fees of users holding Huobi Tokens in a step-wise manner.
Heco supports Ethereum Virtual Machine (EVM) compatibility of smart contracts as well. This can further aid smart contracts from Ethereum to migrate easily to Heco, which makes it a perfect fit for Injective Chain since we are also EVM compatible. Moving forward, Heco aims to continue to improving the efficiency of Ethereum with new layer 2 innovations, which will be an interesting synergy between us as well as we are a layer-2 based DEX.
Injective’s Integration with Huobi Eco Chain
We began this collaboration with Heco even prior to our listing last month on Huobi. During this process, Injective’s engineering team started to test smart contracts on top of Huobi, making us one of the first ever teams to utilize the Heco Chain.
The primary end goal is to create a user-friendly lite interface that enables traders to seamlessly transfer funds between Heco and the Injective Chain. An iteration of this interface is displayed above, which is a simple version that specially caters to new users within the world of crypto.
The possibilities for what this integration can achieve are truly endless. Heco has already processed over 14 million transactions and is rapidly approaching 2 million active user addresses. The ability for Injective to enter into this ecosystem at this earliest stage will allow us to capture an outsized mindshare within the Huobi user base.
The Injective DAO will be instrumental in creating new derivative products that utilize Heco assets. This can entail the deployment of new indices or even new yield farming oppuruntities using Heco assets.
“We are delighted to be the first decentralized derivatives exchange to work alongside the Heco ecosystem. It is our underlying belief that cross-chain trading will become the bedrock of crypto moving forward, so adding Heco to our array of products will enable our users to access novel derivative products not found elsewhere in the market,” said Eric Chen, Injective CEO.
The teams at Huobi Eco Chain and Injective share a common ethos to further democratize opportunities within the financial sector. This upcoming integration with Heco will mark the start of a new era in cross-chain trading as we become Huobi’s inaugural decentralized derivatives alliance partner.
Our plan at Injective is to continue adding support for new assets, indices, ETFs, and other unique derivatives. Moving forward, our team will continue to pioneer new innovations as we introduce a paradigm within the world of trading.
About Huobi Eco Chain
Huobi ECO Chain (Heco) is a decentralized, high-efficiency and energy-saving public chain created by Huobi. It is compatible with smart contracts and supports high-performance transactions. Heco seeks to make the creation of decentralized applications more efficient and cost-effective.
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.