Solana assets are now live on the Injective, bringing forth new forms of composability to the entire Web3 ecosystem! Injective will serve as the primary L1 gateway for Solana assets to enter the broader Cosmos ecosystem, unlocking a diverse array of new DeFi primitives and opportunities.
How can I bring Solana assets to Injective?
Users can transfer Solana assets to Injective via the Injective Hub or the Portal Bridge. Starting today, the Injective Hub supports the transfer of SOL into Injective. The Injective Hub has also integrated Phantom Wallet (the most popular Solana wallet) to provide Solana users a familiar experience when onboarding onto Injective. You can now visit the Injective Bridge, choose Solana in the dropdown menu, connect with Phantom Wallet and transfer Solana assets to Injective.
The recent Wormhole integration has allowed Injective to become one of the most interoperable networks in existence. As a reminder, Wormhole is a generic message-passing protocol that connects high-value blockchains. It has continued to rise in prominence by only working with proven L1 blockchains. Injective thus became the only blockchain in the Cosmos ecosystem to have Wormhole support.
Now Injective has utilized the cross-chain technology from Wormhole to create a new gateway for SOL to enter Injective and the Cosmos ecosystem with a seamless UX that can cater to the Web3 masses.
How can I use Solana assets on Injective?
Injective will serve as a fundamental gateway for assets to travel into the broader IBC ecosystem as well, further bolstering Injective’s position as a core infrastructure layer optimized for interoperable finance. Solana assets can enjoy a multitude of use cases across the rapidly growing Injective ecosystem.
For instance, exchange dApps such as Helix, Qwerty, and Wavely can begin to introduce SOL spot markets for trading. This would mark the first time that SOL markets can be traded within the Cosmos community.
Another example use case can take place with Astroport, one of the largest AMMs in history. Towards the end of last month, Astroport deployed its public testnet on Injective, selecting Injective as its new destination chain. Once the Astroport mainnet is live, SOL can not only be traded on the AMM but also be placed into LP pools to earn yield.
With the upcoming arrival of new DeFi projects on Injective in sectors such as lending, SOL can begin to have entirely new use cases on Injective. Effectively, users on Injective can trade, earn yield or engender new primitives altogether to drive new use cases for Solana assets on Injective. In this manner, Injective can begin to create new rails to cross-chain composability between DeFi protocols on Solana and Injective.
The only real limit here is one’s own imagination.
What does this mean for the future of composability?
Composability refers to DeFi applications including specific financial products and services that can be freely combined with each other just like “money legos”. Without composability, DeFi apps tend to be siloed and run separately. With composability and by getting different financial applications involved, it makes it easier for the Injective ecosystem to scale via the introduction of innovative new use cases. In addition, Injective can offer users a network that is able to achieve higher capital efficiency which in turn unlocks new financial opportunities for individual and institutional users alike.
Advancing composability has long been one of the core ideals driving the Injective community. Now this vision is beginning to gain further momentum as Injective continues to combine decentralized finance primitives together to bring forth new financial systems.
The march towards a new financial paradigm continues with Injective leading the charge.
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.