Injective Protocol Launches Fully Decentralized Derivatives Trading and a $120 Million Incentive Program

Injective Protocol has announced the public launch of its decentralized platform for derivatives trading along with a $120 million incentive program for traders, market makers and DeFi projects. During its testing Injective processed over $1 billion dollars in daily trading volume.

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Built by a team of Stanford and Harvard graduates, Injective enables decentralized derivatives trading with a fast and secure exchange that allows investors to trade any market, including stocks, crypto, forex, NFTs, and even synthetic assets through a diverse array of financial instruments such as perpetual swaps, expiry futures, and traditional spot markets. Traders outside of the US can access stocks such as Airbnb, Tesla, Amazon, and Google and trade them 24/7.

Injective enables instant transaction finality, making trading secure and fast, and allows its users to trade at zero fees — where legacy platforms like Robinhood take about 2 days to execute the deals and make money through market maker rebates, which ends up increasing the costs for traders. Due to its decentralized nature Injective also won’t have outages locking individual investors out of their brokerage accounts while the markets are moving.

Unlike its counterparts such as FTX, a crypto derivatives exchange, and dYdX,a decentralized protocol for perpetual contracts, every component of the Injective is built to be fully trustless, censorship-resistant, publicly verifiable, and interoperable while providing an intuitive user experience comparable to centralized exchanges. Injective already has more than 25,000 individual traders, and Siam Commercial Bank and Binance have joined Injective Protocol as validators.

Injective is also launching a $120 million incentive program named Injective Astro to help promote liquidity and trading on the platform. The program will begin by allocating the funds specifically to market makers and traders who utilize the protocol. Through the Trade & Earn program, traders will be able to earn a rebate for every trade that they place on the exchange rather than having to pay a fee as is the case on all other platforms . Injective Labs also plans on assigning more funds toward incentivizing new projects to build on Injective.

Injective Pro, the company’s interface for individual investors, restricts all US users in order to properly comply with guidelines set forth by governing bodies such as the CFTC. Developers can build new exchange interfaces on top of Injective which allows individuals to rapidly create region or asset specific exchanges while being able to leverage the powerful backend protocol. Users can view all trades on-chain via the Injective Explorer regardless of whether the trade was placed via a frontend interface or the institutional grade Injective API.

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Injective is led by Eric Chen, a 23-year-old computer science dropout. Prior to Injective, he was a researcher at Innovating Capital working on trading strategies and protocol research. Before that he was a part of the NYU Blockchain Labs. The team at Injective Labs has been building it since 2018 and validated the product  with the largest funds, market makers, and institutional traders. Injective is backed by a group of notable investors, including billionaire NBA team owner and Shark Tank judge Mark Cuban, Pantera Capital,  BlockTower, and Hashed. It was one of the first projects to be incubated by Binance Labs.

“Our mission at Injective has always been to build the most powerful protocol for completely decentralized derivatives trading. Our platform provides unparalleled flexibility and allows any participant to launch a new market and enable 24/7 trading. It’s also completely transparent and doesn’t require trust in any centralized entity”, said Eric Chen, co-founder and CEO of Injective Labs. “We’ve integrated multiple different blockchains to become a bridge allowing investors to trade assets between them”.