Injective Protocol announced that it is integrating with Avalanche. Creating a diverse array of interoperable derivative products by the end of Q2.
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 adding entirely new derivative products, such as those related to Initial Litigation Offerings (ILOs).
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives. It enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing.
Co-founded by computer scientist Emin Gün Sirer, Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain deployments in one highly scalable ecosystem.
Avalanche Transaction Volumes Significantly Higher
Avalanche allows transaction volumes significantly higher than other decentralized networks and is even competitive with traditional, centralized financial infrastructures. It is able to processes 4,500+ transactions/second and instantly confirm transactions.
The Injective Chain was built using the Cosmos SDK and is fully interoperable with the EVM. Over the past few months, Injective has started to delve deeper into integrating a number of other layer one blockchains such as Polkadot and Binance Smart Chain.
Injective’s goal is to create a fully decentralized cross-chain derivatives exchange that is able to work across all blockchains. This is important given the congestion, high gas fees and slow transaction times offered by Ethereum.
However, most DEXs only work with Ethereum. So assets built on chains such as Avalanche would previously have been inaccessible by the broader crypto ecosystem.
To change this, Injective will be integrating AEB to allow for Avalanche-based assets as well as the native Avalanche token (AVAX) to be brought over to the protocol. This will pave the way for a robust transfer zone where traders can seamlessly navigate across the Injective Chain and Avalanche.
The integration will also see the creation of derivatives that utilize the AVAX token itself, such as new indices that track a basket of popular digital assets.