Injective Protocol has formed a strategic partnership with WOOTRADE, a digital asset dark pool, to combine resources to focus on increasing user adoption in the Decentralised Exchanges (DEX) space.
The collaboration will bring together a series of initiatives such as implementing liquidity management, designing crypto asset derivative products and markets, and establishing an international corporate brand.
Decentralised Exchanges (DEX) are one of the most widely talked about topics in Decentralised Finance (DeFi). It is often considered to be the inevitable next evolution of digital asset exchanges due to addressing the growing problems with centralised exchanges such as the lack of transparency in transactions and frequent loss of assets due to hacking or becoming victims to social engineering.
Injective Protocol is a decentralised layer-2 peer-to-peer protocol that aims to enable fast and secure perpetual swaps, futures, leverage and spot transactions on Ethereum. The partnership will facilitate the transaction by leveraging WOOTRADE's transaction depth of 100 BTC with a spread of 0.05 per cent. This liquidity stems from the in-depth aggregation of major exchanges, and the support of quantitative investment research institution Kronos Research for market-making strategies. Kronos has a daily transaction volume of USD1 billion. In order to provide sufficient liquidity, WOOTRADE will also provide a low rate of 0 per cent for connected exchanges, which saves hedge costs for exchanges. All in all, this collaborative effort will lead to a paradigm shift in the DeFi world.
WOOTRADE was incubated by Kronos Research, a leading quantitative investment research institution, and is funded by distributed capital from DFund, SNZ, Hashkey, as well as vector capital investment. The dark pool has a team that brings extensive experience in trading crypto assets and secondary assets. The top institutional trader has the technical expertise to manage high-level crypto market derivative products. Injective Protocol's derivatives protocol and technology-driven ecology can provide institutional traders, such as Kronos Research, with the ideal environment and conditions for the fastest, safest and most fair service for its markets and products.
Injective is the first cross-chain protocol built for decentralized finance applications. On the Injective exchange, anyone can access, create, and trade unlimited DeFi markets such as futures and perpetuals. Developers can also build cross-chain Ethereum-compatible projects that are lightning fast and achieve instant transaction finality. Injective is backed by a prominent group of stakeholders including Binance, Pantera Capital and Mark Cuban.