Injective Integrates With Avalanche to Launch AVAX Derivatives
- The bridge between Injective and Avalanche is set to launch by Q2 2021.
- The integration will allow Injective to launch interoperable derivatives using AVAX.
Image from Shutterstock
According to the company’s announcement, Injective will launch derivatives that use AVAX, Avalanche’s native token, as well as other native Avalanche assets. Injective is a Layer-2 decentralized exchange protocol built on the Cosmos SDK and is fully interoperable with the Ethereum Virtual Machine (EVM).
The integration will involve two phases, with the first phase being the integration with the Avalanche-Ethereum Bridge (AEB). The second phase will involve the creation of entirely new interoperable derivatives, including indices that track baskets of popular digital assets.
The new products Injective builds on Avalanche, such as Initial Litigation Offerings (ILOs), will also be used on Injective.
“ILOs for instance hold tremendous potential as it is currently a $10 Billion asset class out of reach for most retail investors,” the company said in the release.
- The newly launched ecosystem fund is backed by Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, Flow Traders, Gate Labs and IDG Capital.
- Highest priority will be given to interoperability and DeFi projects, but the fund will also support developers that are building trading platforms, scalability solutions, and PoS infrastructure.
Shutterstock
- MetaMask Bridges was designed to aggregate multiple blockchain bridges in one place, making it easier and more secure for users to transfer their assets from one network to another.
- The new feature currently supports the Ethereum, Avalanche, BNB Chain, and Polygon blockchains, as well as the Connext, Hop, Celer cBridge, and Polygon Bridge.
- The Avalanche Foundation’s “Metaverse” program aims to accelerate the adoption and growth of the Avalanche network subnet functionality.
- The first two projects selected for the program are an NFT gaming project, and an institutional DeFi initiative with a native KYC functionality.