Injective Protocol Partners with Fantom to Accelerate Synthetics Adoption
We are thrilled to announce a strategic partnership with Injective Protocol to accelerate synthetic assets adoption.
Injective Protocol will allow trading of Fantom-based synthetic assets on their DEX, and together we’ll create new cross-chain derivative products across different verticals.
Both Injective Chain and Fantom are EVM compatible, facilitating the integration of synthetic assets on both chains and open access to Injective users to Fantom Finance and its products.
The decentralized derivatives market is still under the radar, despite having tremendous potential. Both Fantom and Injective Protocol are positioning themselves at the forefront, offering fully decentralized derivative trading, along with a fast and inexpensive user experience.
Fantom Finance already allows minting of 16 synthetic assets, including fUSD, fEUR, fBTC, fETH, and fGold, among the others. The offering will expand to 176 assets, and fTrade and fLend will enable trading, lending, and borrowing of those assets.
Injective began exploring the synthetics market, too, introducing a synthetic gold market on their Solstice Testnet, as well as the world’s first-ever decentralized stock futures trading.
“Injective is pioneering a new era in decentralized derivatives trading. We are excited to see synthetic assets on Fantom make their way into the Injective ecosystem. This will certainly lead to robust new use cases and accelerate synthetics adoption,” said Fantom CEO, Michael Kong.
Besides bridging existing Fantom-based synths, the collaboration will focus on creating entirely new derivative products, including new lending products, yield farming opportunities, and new forms of synthetic assets that are currently not available elsewhere in the market.
“We are thrilled to be collaborating with the Fantom team. Synthetic assets continue to introduce novel market dynamics to the crypto ecosystem. Working with Fantom will further enable the creation of new synthetic markets on Injective that would have been impossible on any other platform,” said Injective CEO, Eric Chen.
Stay tuned for more updates!
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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The Fantom Foundation is committed to building open-source, decentralized, DAG-based distributed ledgers with aBFT consensus. It aims to create fast, secure, and scalable technologies across various industries, allowing organizations, businesses, and individuals to develop decentralized and secure applications, solving real-world problems.
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