Injective has entered into a strategic collaboration with Matic to expand layer-2 derivatives trading globally. This collaboration will focus on four distinct verticals that aid in heightening DeFi adoption globally.
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. Matic is also part of the Binance family, having conducted an IEO on Binance last year.
Initially, the community plans to work closely with the Matic team in order to further delve into layer-2 research. Although there has been public anticipation for layer-2 infrastructure for several years now, there is still much left to be discovered. Matic and Injective are the two market leaders in the space today when it comes to building on top of layer-2, so the synergies with respect to research will be limitless.
Secondly, Injective plans to list Matic assets on Injective in the coming months in order to further expand the derivatives markets available on the DEX. This will allow Matic traders to have a new avenue via which they can interact with Matic tokens.
“I’ve been a passionate supporter of Injective for quite some time. We are excited to see new Matic derivatives on Injective’s platform. As two pioneers in the layer-2 blockchain sector, I am certain that our teams can bring forward the burgeoning field of DeFi,” said Sandeep Nailwal, Matic COO.
The final and perhaps most important point of integration will include leveraging the layer-2 bridge Matic currently has on Ethereum. This means assets built on top of Matic can easily be ported over to Injective given its fully EVM-compatible infrastructure. This will also enable the community to explore new derivative products that utilize assets built on top of Matic.
“We have been close with the Matic team for quite some time. In fact, some of our developers worked with the Matic team a few months ago to research innovative layer-2 solutions. I’m excited to deepen this relationship further with new forms of collaboration.” said Eric Chen, Injective Labs CEO.
This collaboration will help build out the Injective ecosystem in the days leading up to the public launch.
About Matic Network
Matic is a developer-first hybrid POS+Plasma sidechain on top of Ethereum, enabling Ethereum developers to scale their DApps for large scale usage. Matic is rapidly becoming the go-to Layer 2 Solution for developers, thanks to secure, scalable, and instant transactions, secured by Ethereum. There are 70+ Dapps building on Matic, ranging from DeFi Protocols to thrilling games and prediction markets. Deploy your existing Ethereum DApp in less than 15 minutes! Get started with the Matic documentation here.
Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications. Injective was created using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.