Binance Launchpad To Host Injective Protocol Public Token Sale
- Since Binance has shown strong support for the protocol throughout its development, Injective have decided on conducting their public sale on Binance Launchpad.
- The layer-2 protocol is expected to bring tremendous change in the DeFi space and show unmatched results in terms of on-chain transaction speed and gas fees.
Binance CEO Changpeng Zhao. CryptoMonedaseICOs
On October 12, Binance Launchpad, Binance’s IEO platform, announced that Injective Protocol’s public sale will be hosted in an effort to scale the company and help introduce its services to the crypto community.
Injective Protocol is a layer-2 decentralized exchange protocol that is said to support various derivative products such as CFDs and perpetual swaps. According to the announcement, the tech stack on the protocol will bring an order of magnitude speed-up by scaling trade execution and settlement on layer-2, while simultaneously retaining decentralization. Moreover, users will be able to permissionlessly create and trade derivatives markets in the DeFi space.
“It’s great to see more and more projects joining Binance Launchpad. We are pleased to provide our support for Injective Protocol and help grow the DeFi space together,” said Binance CEO and Founder, CZ (Changpeng Zhao). “We’re looking forward to seeing Injective leverage decentralization to build a more efficient financial ecosystem”.
In the announcement, Binance claimed that Injective has built every component of its network to be fully trustless, censorship-resistant, publicly verifiable, and front-running resistant. By launching their public sale, the platform will ensure that the INJ native token of the protocol will be used for functions such as protocol governance, liquidity mining, and staking. After the initial IEO, a $3.6 million token sale will follow with a lottery-format ticket claim, beginning on October 13.
“Binance has been a strong partner for us at Injective since day one. We are excited to be conducting our public sale on Binance Launchpad which has served as a great starting point for a number of promising projects in the past,” said Injective co-founder and CEO, Eric Chen.
- Users of Binance NFT can now use select blue-chip NFT collections as collateral to take out cryptocurrency loans.
- The platform will initially support only loans in ETH, and NFT collections Bored Ape Yacht Club, Mutant Ape Yacht Club, Azuki, and Doodles.
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- The crypto exchange blamed the issue on a decision made by its third party payments provider in Australia, noting that it is now looking for a new partner in the country.
- Binance Australia assured users that AUD withdrawals are still available, and that they can continue to buy and sell crypto using debit/credit cards and its P2P marketplace.
- The Binance NFT marketplace said it will soon expand its multichain ecosystem, and add support for Bitcoin Ordinals, which are also known as Bitcoin NFTs.
- The platform said it will allow users to purchase and trade Ordinals directly from their Binance accounts, bypassing the need to create a separate inscription wallet.