Welcome to Injective’s December update!
This month saw an astonishing pace of progress as the Injective community launched a brand new institutional exchange, processed over 1 million trades, and released the first-ever native trading competition alongside collaborator Binance Smart Chain. From day one, the Injective family has maintained laser focus on the power of integrating the best features from centralized exchanges while retaining a dynamic decentralized backend.
Injective also received a great degree of support by being added to Coinbase Custody.
Read below to learn more about the latest major product upgrades, key collaborations, community initiatives and more.
- Solstice V2 release and public rollout. Upgrades include a massive UI revamp as well as the integration of multiple digital asset and synthetic markets. The Solstice Pro launch also introduced a number of institutional features as well.
- INJ was added to Coinbase Custody.
- Injective launched the world’s first yield farming derivative.
- Injective launched the world’s first decentralized stock futures trading. This was done in collaboration with recent collaborators Band Protocol and Terra. This major milestone also received coverage on CoinDesk, NASDAQ, and Crypto Briefing.
- Injective collaborated with a number of major projects in the space such as Binance Smart Chain and Matic.
- Injective released the first ever Trading Competition with key collaborator Binance Smart Chain.
- Injective Labs hosted a number of community-bulding initiatives such as technical conversations with the likes of Alpha Finance and Axie Infinity.
1. Solstice V2 and Solstice Pro Launch
Thanks to successful stress testing and rapid iterations, Solstice V2 was released, first on a limited basis and on December 21st —the winter solstice — to the public. Now users from all around the world can access the exchange here.
Solstice V2 was instantaneously met with tremendous demand, with user caps being reached under one hour on a daily basis.
A number of infrastructure upgrades and frontend changes were carried out, culminating in the release of Solstice Pro. The community had been working in stealth for quite some time on UI and infrastructure upgrades that specifically caters to institutions since seeing a massive lack of development in that arena to date. This launch helped to bring unrivaled institutional-grade products to the DEX. This includes expiry futures, reduce only orders, optimized leverage, among many other upgrades.
After the success of the early access testnet release, a Discord channel was opened up to compile user feedback. Community developers went above and beyond to not only integrate metrics from these invaluable user requests but also to perform upgrades in record time.
2. Coinbase Custody
INJ was added to Coinbase Custody which will now support INJ deposits and withdrawals.
3. World’s First Yield Farming Derivative
Injective contributors created the world’s first yield farming derivative. The goal was to tap into this increasingly popular industry, while serving as the first and only protocol to address mounting problems within yield farming, such as surging gas fees.
Now anyone can earn chain agnostic yield with zero gas fees and a simple trading interface. The decision was made to begin with yield derivatives focused on Yearn since the platform is entirely decentralized and any changes to the ecosystem are always carried out via on-chain proposals and voting. So in this manner, the Yearn and Injective ethos are closely aligned.
The introduction of yield farming derivatives falls under the overarching community mission to democratize the finance sector. This can be accomplished by offering a new avenue for anyone to be able to benefit from innovations in the industry, regardless of their experience level or financial status.
4. Decentralized Stock Futures Trading Launch
Injective launched decentralized stock futures trading. This means that users on the Solstice Testnet will soon be able to securely access the $90 trillion stock market without any centralized control.
Stock trading on Injective is made possible by collaborations with cross-chain data oracle, Band Protocol and Terra’s synthetic DeFi platform, Mirror Protocol.
CoinDesk, NASDAQ, Crypto Briefing, among many other publications, helped to break the news on this groundbreaking event.
Injective established some great collaborations over the past few weeks. Here is a quick look at some of them.
Binance Smart Chain is a sovereign smart contract blockchain delivering Ethereum Virtual Machine (EVM) compatible programmability. Users will be able to transfer tokens between the Injective Chain and BSC with ease. This enables limitless possibilities for various derivative products to be brought over to BSC. In addition, it allows for new DeFi protocols built on top of BSC to have accessible interoperability with the Injective Chain.
Matic Network is a layer-2 scaling solution backed by Binance and Coinbase that aims to provide a generalized layer-2 platform, enabling Ethereum developers to scale their DApps for large-scale usage. Injective has strategically collaborated with Matic to expand layer-2 derivatives trading globally.
6. First-Ever Trading Competition
Injective released its first-ever trading competition. This competition was launched in collaboration with Binance Smart Chain.
Users have surged in number as thousands of new traders continue to vie for a top spot.
7. Community Events
A number of community-building initiatives took shape this month.
Techcrunch led the way with an exclusive feature on Injective titled As crypto comes back, Binance-backed Injective Protocol launches Testnet for its DeFi trading platform.
Cointelegraph also shone the spotlight on Injective in their article on Injectve’s Synthetic Asset Launch.
Binance IEOs, Yield Farming, and NFTs Talk with Alpha Finance and Axie Infinity
Other Community Events
Injective was the subject of a number of other global community-building initiatives this month, including AMAs with Gains, Infinity Capital (Vietnamese), The Dude, Daku, Blockchain Core, Tokocrypto (Indonesian), Crypto Needle (Korean), and many others.
And that’s a wrap for 2020! Stay tuned for more exciting news in the coming weeks.
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.
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