Welcome to Injective’s January update!
We hit the ground running this month and met some of our New Year’s resolutions right off the bat. We launched the world’s first-ever decentralized stock and forex futures trading. This included the launch of assets such as Tesla, Amazon, GameStop, and Japanese Yen futures.
We also released our native e-learning platform, which will help to onboard new traders into our ecosystem moving forward. Along the way, we received a major listing on Huobi, while locking in major partnerships with top tier projects globally. This also culminated into our acceptance into the coveted DeFi Alliance.
While the world of traditional finance continues to be mired in controversy and disarray as platforms such as Robinhood pose new restrictions on traders, Injective is continuing to unlock new frontiers. Our developers have been working nonstop to carry out major product upgrades while our business team has ramped up the community and cemented partnerships with industry titans.
Below you’ll find some of our proudest moments from the past month, and where we’re headed next.
- We released decentralized expiry futures trading
- We launched the world’s first-ever decentralized Tesla, Amazon, Twitter, and GameStop stock futures trading. This received press coverage from CoinDesk and a number of other major publications.
- We announced the world’s first-ever decentralized Forex futures trading while also adding in the Euro, Yen, Pound, Franc, and Ruble pairs
- INJ received a major listing on Huobi
- We released our vision for Injective moving forward
- We were accepted into the DeFi Alliance
- We successfully ended our trading competition with over 1M trades processed.
- We partnered with Fantom, Cobo Wallet, Plasma Pay, Alliance Block, Acala, and UniLend. We also launched cross-chain staking derivatives with Ramp DeFi and TomoChain
- We hosted a panel on lending protocols with AAVE, Yearn Finance, Placeholder, and Union Square Ventures. We also hosted another panel on synthetic assets with Band Protocol and Terra
- We launched our own educational platform called Injective Learn alongside our native Injective Blog
- We partnered with Blockchain Education Network to expand our reach. We also participated in AMAs with Oddgems and Hillrise Capital
1. Decentralized Expiry Futures Release
We started the year by launching decentralized expiry futures trading on Injective.
This is a monumental step towards the creation of a fully decentralized derivatives exchange. Now we can create not only crypto native futures markets but also a plethora of others that are not available elsewhere. This includes synthetic assets such as stocks and forex along with prediction markets as well.
2. We launched a number of new stock futures markets including Tesla, Amazon and GameStop
We chose Tesla as the first futures market on Injective, after witnessing the company’s blockbuster year in 2020. This marks the first time in history that Tesla futures can be traded in an entirely decentralized setting. This received coverage on CoinDesk and a number of other major publications.
Tesla is by far the most traded stock by value on Wall Street, with $18 billion worth of its shares exchanged on average in each session over the past 12 months, easily beating Apple, in second place with average daily trades of $14 billion.
Given the recent ban on trading of a number of stocks on Robinhood and major brokerages, we finally added GameStop stock futures trading.
3. Forex Futures Trading
We became the first exchange to launch fully decentralized forex futures trading. Until now, forex trading was largely restricted to traditional markets and centralized exchanges. Injective is pioneering a true paradigm shift in this industry by giving back control of such assets to the masses. This will not only lead to a surge in traders who were previously unable to interact with such markets but also aid in democratizing the financial ecosystem as a whole.
This milestone received major media coverage, including on Cryptobriefing.
4. INJ Listing on Huobi
We were listed on Huobi, which currently stands as one of the world’s largest cryptocurrency trading platforms by volume.
Both the team at Huobi and we share unique values with respect to expanding decentralized ecosystems. This is a part of a larger initiative to bring INJ and its unique features to users worldwide. We will soon carry out a number of significant collaborations with Huobi as we continue to strengthen our relationship with the team.
5. Injective’s Vision for a New Financial Paradigm
We released our vision moving forward.
Ever since its inception, Injective was built to create a platform that is fully decentralized, entirely permissionless, and exceptionally performant. This piece will provide an overview of how Injective aims to rectify the salient issues that persist within crypto-native networks and our vision towards creating a truly innovative financial paradigm.
6. Injective Joined the DeFi Alliance
We were accepted into the latest cohort of the DeFi alliance. Past members include the likes of Synthetix and dYdX.
This will greatly help us to expand our network with liquidity providers as we look to launch our mainnet in Q2.
7. We Completed a Successful Trading Competition
We ended the trading competition with over 1M trades processed with users from across the globe.
This month saw a number of key partnerships added to our ever-growing network.
We partnered with Fantom to accelerate synthetic asset adoption.
Pioneering crypto wallet Cobo added us to their platform.
We are collaborating with Plasma Pay to enable fiat on-ramps for INJ.
We announced a partnership with Alliance Block, a decentralized, blockchain-agnostic layer-2 protocol. Together we will work to launch decentralized oil and gas futures, which constitute a multi-trillion dollar market in traditional finance. This is the first time DeFi users will be able to gain access to these assets.
We partnered with Acala, the decentralized financial hub of Polkadot, in order to bring its novel multi-collateral stablecoin (Acala Dollar) to our derivatives exchange. This is a significant milestone for Injective as we further bolster our collaboration with the Polkadot Network in order to truly showcase the limitless capabilities on Injective.
We linked up with UniLend, a decentralized money market, to unlock new yield farming opportunities.
We have begun developing cross-chain staking derivatives alongside our partners Ramp DeFi and TomoChain. This means that in the coming months, users will be able to trade staking derivatives with leverage across multiple layer one protocols. Our plan at Injective is to continue adding support for new stocks, indices, ETFs, and other unique derivatives.
9. Panels with Major Players within DeFi and Traditional Finance
We hosted a number of major panels.
Lending Protocols and DeFi: Injective, Yearn Finance (YFI), AAVE, USV, and Placeholder
Synthetic Assets and Decentralized Stock Trading: Band Protocol, Terra, and Injective Protocol
10. Injective Learn
This month we launched Injective Learn, a brand new blockchain education platform that publishes in-depth tutorials for all experience levels. It is our aim to provide a comprehensive educational platform that equips learners to partake in everything that Injective has to offer.
Along with Injective Learn we launched our new native Injective Blog, where we now provide the majority of our exclusive content.
11. Community Building
We took part in a number of community-building initiatives this month in order to accelerate our growth.
We collaborated with Blockchain Education Network (BEN) to onboard student traders worldwide to test and refine trading strategies on a robust, fee-less layer-2 DEX. The BEN team is now directing students to the quality trading education offered through Injective Learn.
We couldn’t have made it this far without the constant 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.
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.
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