Injective protocol rebrands – to focus on creating innovative DeFi hub: Injective protocol have announced a rebrand that will now focus on creating the DeFi hub for the new internet economy, Injective is a zero-gas-fees decentralized exchange that revamps the traditional model to create a protocol that is easy to use for both novice and advanced traders alike.
The defi protocol announced the Injective rebrand which marks a significant evolution in Injective’s mission, product, and brand, according to the announcement; “Two community-driven goals currently underpin Injective. The first is in enabling anyone to access, create, and trade unlimited DeFi markets. The second is to allow developers to create cross-chain Ethereum-compatible projects using a protocol that is custom built for DeFi”
“Injective was started with the initial goal of building a decentralized cross-chain protocol that would allow for derivatives trading, while also being Ethereum-compatible. By doing so, we would be able to serve native users while also working across new blockchains”
“While creating a cross-chain derivatives DEX, we achieved a number of technical milestones that would redefine interoperability and finance altogether. Injective’s solutions: Peggy Bridge,Cosmos-based PoS, Cosmos-based PoS, IBC Compatibility, Decentralized Governance”
“Over the years, Injective has grown to become both a state of the art derivatives exchange and a DeFi application specific layer-one protocol. The synergy between these two realms helps pave the way into the future of Injective”
“Injective’s DeFi application specific chain is able to serve the needs of developers everywhere. Ethereum-compatibility allows developers to utilize familiar tooling. The interoperable backend enables DeFi apps to seamlessly work across distinct blockchains such as a multitude of new DeFi projects can be deployed on Injective. Using Injective’s self-evolving protocol, developers can swiftly modify any parameter to suit their specific DeFi use case. Thus, Injective is made to be future-proof as new upgrades occur over time”
“The projects and DApps on Injective will each add to the positive feedback loop within the ecosystem. For example, a developer building a relayer can interact with multiple applications on Injective, adding to the overall value that UI is able to provide to the end user”
“The decentralized derivatives exchange on Injective will also be strengthened by new cross-chain DApps. For example, insurance applications deployed on Injective can be used to underwrite risk in derivatives contracts, the opportunities are truly limitless”
“The INJ token will play an increasingly crucial role within the network as it helps to govern and secure new cross-chain DeFi projects and applications built on Injective”
“We are also releasing a new visual brand identity that will be incorporated throughout Injective’s website, products and messaging to properly illustrate the expansion of Injective’s mission”