|DeFi Futures Exchange Injective Protocol Works Together with WOOTRADE to Increase DeFi Adoption|
NEW YORK, NY, June 12, 2020 - (ACN Newswire) - Injective Protocol officially announces a strategic partnership with WOOTRADE, a leading digital asset dark pool, to combine resources to focus on increasing user adoption in the Decentralized Exchanges (DEX) space. The collaboration will bring together a series of initiatives such as implementing liquidity management, designing crypto asset derivative products and markets, and establishing an international corporate brand.
Decentralized Exchanges (DEX) are one of the most widely talked about topics in Decentralized Finance (DeFi). It is often considered to be the inevitable next evolution of digital asset exchanges due to addressing the growing problems with centralized exchanges such as the lack of transparency in transactions and frequent loss of assets due to hacking or becoming victims to social engineering.
Injective Protocol is a decentralized layer-2 peer-to-peer protocol that aims to enable fast and secure perpetual swaps, futures, leverage and spot transactions on Ethereum. The partnership will facilitate the transaction by leveraging WOOTRADE's transaction depth of 100 BTC with a spread of 0.05%. This liquidity stems from the in-depth aggregation of major exchanges, and the support of quantitative investment research institution Kronos Research for market-making strategies. Kronos has a daily transaction volume of $1 billion. In order to provide sufficient liquidity, WOOTRADE will also provide a low rate of 0% for connected exchanges, which saves hedge costs for exchanges. All in all, this collaborative effort will lead to a paradigm shift in the DeFi world.
WOOTRADE was incubated by Kronos Research, a leading quantitative investment research institution, and is funded by distributed capital from DFund, SNZ, Hashkey, as well as vector capital investment. The dark pool has a team that brings extensive experience in trading crypto assets and secondary assets. The top institutional trader has the technical expertise to manage high-level crypto market derivative products. Injective Protocol's derivatives protocol and technology-driven ecology can provide institutional traders, such as Kronos Research, with the ideal environment and conditions for the fastest, safest and most fair service for its markets and products.
About Injective Protocol
Founded in 2018, Injective Protocol is a fully decentralized, front-running proof layer-2 decentralized exchange. The protocol is based on the Cosmos-SDK and Ethereum network that integrates a verifiable delay function (VDF) to prevent transaction fraud and front-running. Along with early incubation by Binance Labs, they have received support from other top-tier international investment firms.
For More Information:
Press Contact: [email protected]
Topic: Press release summary
Sectors: Investors/Exchanges, FX & Digital Currencies, FinTech/Chains
From the Asia Corporate News Network
Copyright © 2020 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.