Injective has collaborated with Razor Network to further expand the oracle ecosystem. All users will now have access to new price feeds for market creation, leading to limitless possibilities.
Razor Network is a decentralized oracle network that connects smart contracts with real-world, off-chain data in a quick, robust and secure manner. Razor already has started to collaborate with some of collaborators such as Polygon and Conflux.
Injective is a fully decentralized, robust, and parameterizable Layer-2 DeFi protocol that supports a diverse array of derivatives, including CFDs, perpetual swaps, and more. The Injective DEX provides an order of magnitude speed-up compared to its counterparts by scaling trade execution and settlement on Layer-2 while being fully decentralized.
With its layer-2 architecture, Injective avoids both network congestion and the associated transaction fees that are commonly seen in decentralized exchanges today, allowing users to trade seamlessly without having to worry about high gas fees or network latencies. Users can also permissionlessly create and trade derivative markets that even centralized exchanges cannot support.
Any DEX requires various real-world data price feeds for the available crypto assets, so that users can trade them at the most recent and updated prices. If the prices are not correct, then both the reputation and the usability of the DEX can come under threat.
An integral component of market creation is the use of robust and secure oracle solutions. The Injective community already works with leading oracle providers in the space such Chainlink and Band Protocol. The collaboration between Razor Network and Injective will enable the Injective DEX to access more assets in a secure and reliable manner given Razor’s innovative oracle solution.
“The crypto trading space is heating up, with a host of decentralized exchanges offering innovative features joining the playing field. Injective offers the technical advantages of Layer-2, and is poised to be one of the leading players in this sector. We hope that the use of Razor’s crypto price feeds will further help the Injective team achieve their goals,” said Hrishikesh Huilgolkar, CEO of Razor Network.
Furthermore, the plan is also to create new derivative products using the native Razor token. The community will now have access to new indices and sophisticated financial products that are exclusively available through Injective.
“Our goal at Injective is to create an unparalleled oracle ecosystem through which users can access limitless DeFi markets. Razor will be a great addition to this network as we look to further our goal moving forward,” said Eric Chen, Injective CEO.
About Razor Network
Razor Network is a decentralized oracle network that connects smart contracts with real-world, off-chain data in a quick, robust and secure way. Razor Network’s core component is a set of smart contracts that can run on any Ethereum-compatible blockchain.
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.