We are thrilled to launch Solstice Pro, which brings unrivaled institutional grade products to our DEX. Starting later today, we will provide access to a new institutional version of Solstice that is months ahead of our original schedule.
We had been working in stealth for quite some time on UI and infrastructure upgrades that specifically caters to institutions since we saw a massive lack of development in that arena to date.
This piece will delve into a few of the optimizations that our team has carried out and how Injective aims to usher in a new era of institutional adoption for decentralized derivatives trading.
We released the initial version of Solstice towards the end of November, which was met with an unprecedented level of interest from tens of thousands of users globally. Our launch was soon covered by the likes of TechCrunch.
Overtime we continued to add new asset classes to further demonstrate the true versatility of Injective such as trading of synthetic gold, which CoinTelegraph also covered. We later added the world’s first yield farming derivatives followed by the launch of the first ever decentralized stock futures trading which would allow users to soon trade markets such as Tesla and Google. Incredibly, all of this was achieved in under a month as community enthusiasm continued to swell.
Behind the scenes however the Injective team was working on a lot more. From the early days of the project we received backing from some of the largest institutional trading funds. Our aim was to bring an accessible platform not only to crypto enthusiasts but also to institutional traders.
We started to gather feedback across out network of institutional investors, market makers, and hedge funds. We found that there was great enthusiasm for derivatives trading on crypto but these funds remain restricted by the underwhelming platforms available in the market today. Most exchanges in the market today either suffer from regulatory hurdles or do not possess the product sophistication needed to entice institutional interest.
Our team at Injective tackled each of these existing problems methodically and with precision. We built a number of iterations over the past few months in order to devise the proper tools needed to operate a DEX that could cater to both novice and professional traders.During this time we optimized a number of distinct parameters across our frontend and infrastructure to allow for a much more robust trading experience.
We are excited to share with all of you that we have far surpassed all of our initial goals. Now everyone can have access to Solstice Pro, which provides an unmatched trading experience for everyone. Moreover, we view this launch as the first real step in garnering a significant level of institutional adoption for decentralized derivatives trading.
Here we will delve into some of the more significant changes that accompany the launch of Solstice Pro.
We are have now added support for expiry futures.
Expiry futures form perhaps the foundation of derivatives trading within traditional markets. This is due to the inherent flexibility offered by expiry futures relative to perpetual contracts. While perpetual futures require significant liquidity for the underlying to be a viable product, expiry futures can be extremely versatile and dynamic, allowing for even more market innovations to occur on Injective. We also anticipate event specific products to be launched on Injective, allowing market creators to utilize expiry futures as a platform for traders and hedgers to speculate on a specific market event.
A good example would be an expiry futures for a newly launched token that settles after investor unlock, market makers can provide sufficient liquidity by capturing the underlying while vested investors can hedge their exposure at a much lower cost than perpetual futures.
Now traders can create and trade quarterly futures, binary options, along with countless other markets.
Extensive Trade History
We now enable users to view past trades which provides new avenues for traders to analyze their trades and overall portfolio. This includes added support for trade history, position history, and deposit history.
We achieve this with additional backend changes to increase support for subgraph. This also includes minor performance optimizations.
Dedicated Portfolio Pages
A dedicated portfolio page was one of the most highly requested features on Solstice. However, current DEXes in the market often do not include this which often leads to added frustrations for professional traders who need access to such information.
So on Solstice Pro, we have now created a custom tab where traders can see their activity across all markets on Injective. This includes all token balances, deposits, withdrawals, open orders, open positions, and a complete trade history.
Reduce Only Orders
We have also added reduce only orders.
This order type is used by traders who would like to reduce their current position size or to close position completely. This function is normally utilized by sophisticated traders who wish to automatically cancel or adjust any new position that may increase their initial position.
The leverage slider now allows for higher levels of granularity with users being able to input specific leverage ratios. This means traders can now take part in more strategic hedging positions and being able manage their liquidation risk profiles appropriately.
A number of indicators aid traders in being able to see their specific orders within the aggregate orderbook. This allows for additional ease when tracking individual orders.
In addition, we have added additional volume indicators on the right hand size which helps to highlight the overall quantity of open orders for any given position.
Upgraded Market Filtering
In the near future, Injective will serve as the core platform for any and all markets globally, so scrolling through every market would certainly be cumbersome.
As a result, we have added in dynamic market filtering which will allow users to search for any market on Injective. This not only saves time but also provides new avenues to explore novel markets.
Users will now find any market at their fingertips. This becomes highly useful as we continue to add new markets periodically on Injective.
We now have added a tab for a leaderboard that is able to rank traders based on their daily and overall ROI. This of course will be quite useful for our upcoming trading competition which allows users to see where they rank among other injective community members.
We’ve introduced a new DeFi primitive of composable derivative positions, allowing users to compose their positions in other higher level applications. This addition of permissionless composability is a powerful capability which can enable novel products to be built on top of Injective Protocol, such as structured products, tranches, and a wide array of variable/fixed rate instruments (the sky is the limit!). We are incredibly excited to offer this new capability, as it not only opens the door for creative experimentation for DeFi developers but also demonstrates the power of our decentralized platform, as no centralized exchange in the world currently supports composable positions.
End-to-end Dockerization and Service Orchestration
As a fully decentralized protocol, our aim is to decentralize the business model of exchange into a decentralized public utility. To do so, we will open-source every single infrastructure component to operate and support exchange, from the front-end exchange interface, back-end infrastructure, smart contracts, to orderbook liquidity.
An important step in doing so is to minimize any technical barriers for users to participate in the network as a validator, relayer or exchange service provider. To this end, we’ve containerized every component of our infrastructure in preparation to allow anyone to frictionlessly participate in the Injective Ecosystem.
A New Era in Decentralized Derivatives Trading
From its inception, Injective was built to offer the a limitless trading experience. Solstice Pro offers the first truly decentralized trading experience for everyone, while simultaneously paving the way for real institutional adoption.
Our team has already begun working on a number of new initiatives that will further propel Injective to new heights.
We can’t wait to see you on Solstice Pro.
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.