Binance Launchpad To Run Token Sale of Injective Protocol, The First Layer-2 Decentralized Exchange Protocol
October 12, 2020 –– Binance Launchpad, Binance’s exclusive token launch platform for transformative blockchain projects, today announced its support for the first universal DeFi protocol for cross-chain derivatives trading - Injective Protocol. Injective now becomes the first project incubated by Binance Labs to debut its public sale on Binance Launchpad. $3.6M token sale will follow with a lottery-format ticket claim and begin on October 13, 2020, at 0:00 AM (UTC).
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized cross-chain derivatives trading and borderless DeFi. The platform supports a diverse array of derivative products such as CFDs, perpetual swaps, and more. The tech stack on the protocol brings an order of magnitude speed-up by scaling trade execution and settlement on layer-2 all while being fully decentralized. Injective’s fully decentralized nature uniquely allows individuals to permissionlessly create and trade derivatives markets.
The platform utilizes both the Ethereum and Cosmos ecosystems via peg zones in order to create its fast cross-chain trading infrastructure devoid of gas fees. Injective has built every component of the network to be fully trustless, censorship-resistant, publicly verifiable, and front-running resistant.
“It's great to see more and more projects joining Binance Launchpad. We are pleased to provide our support for Injective Protocol and help grow the DeFi space together”, - said Binance CEO and Founder, CZ (Changpeng Zhao). We're looking forward to seeing Injective leverage decentralization to build a more efficient financial ecosystem".
“Binance has been a strong partner for us at Injective since day one. We are excited to be conducting our public sale on Binance Launchpad which has served as a great starting point for a number of promising projects in the past,” said Injective co-founder and CEO, Eric Chen.
INJ is the native token of Injective Protocol and is used across a diverse range of functions such as protocol governance, exchange fee value capture, derivative collateralization, liquidity mining, and staking.
Learn more about Injective Protocol in Binance Research’s in-depth report: https://research.binance.com/en/projects/injective-protocol