Injective, a layer-1 blockchain protocol, has launched a new $150 million ecosystem initiative to accelerate the adoption of interoperable infrastructure and DeFi.
The first fully decentralized smart contracts platform, Injective, is designed specifically for developing financial applications.
Injective was developed with the Cosmos SDK and offers plug-and-play modules that enable programmers to quickly construct detailed protocols targeted at sectors like exchanges, options, derivatives, and loans.
A group of top Web3 companies, including Pantera Capital, Kraken Ventures, Jump Crypto, Kucoin Ventures, Delphi Labs, Flow Traders, Gate Labs, and IDG Capital, are supporting this new ecosystem endeavor.
Customized equity and token investments will be made to help, and mentorship in technical development, cryptography research, business development, marketing, community development, and other areas will also be offered.
The members’ primary goal will be to promote budding initiatives in various industries, including interoperability, DeFi, trade, PoS infrastructure, and scaling solutions.
“We’re thrilled to see some of the largest names in the industry joining Injective’s mission to create a more democratized financial system through decentralization,” said Eric Chen, co-founder and CEO of Injective Labs.
Injective gives developers strong modules for building Web3 apps
With projects like White Whale, Frontrunner, and Kado debuting on the chain, Injective has recently seen a boom in developer activity and dApp deployments. The consortium wants to concentrate on entrepreneurs growing within Injective and the larger Cosmos community.
One of the biggest AMMs to date, Astroport, has chosen Injective as its new chain of destinations. Builders from L1s like Terra, Solana, and Ethereum continue to refocus on Injective to scale their applications on the first blockchain created mainly for the financial industry.
“Developer activity on Injective is rapidly increasing with major projects, and this new ecosystem fund will provide unmatched opportunities for new builders entering Web3 and the Cosmos ecosystem overall,” said Eric Chen.
The leading financial applications now support Cosmos and Ethereum interoperability thanks to Injective, a super-fast layer one blockchain. With the help of Injective, developers may create an exchange, DeFi, derivatives, and Web3 apps.
The native deflationary asset known as INJ drives the Injective Protocol and its quickly expanding ecosystem. Binance is the incubator for Injective, which has the support of well-known investors, including Jump Crypto, Pantera, and Mark Cuban.
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