Injective Protocol Partners with Huobi ECO Chain to Advance Cross-Chain DeFi Derivatives

Injective Protocol Partners with Huobi ECO Chain to Advance Cross-Chain DeFi Derivatives

Injective Protocol, a decentralized derivatives trading platform, has announced a strategic collaboration with Huobi ECO Chain (Heco) to foster the adoption of cross-chain derivatives in the blockchain industry. This partnership aims to enable seamless bridging of Heco assets onto Injective while offering innovative DeFi derivative products to traders.

The Vision Behind the Injective-Huobi Partnership

Injective Protocol’s Mission

Injective Protocol is a Layer-2 decentralized exchange (DEX) designed for cross-chain interoperability and decentralized derivatives trading. By integrating with Heco, Injective plans to:

• Simplify the process of transferring assets between Huobi ECO Chain and Injective Chain.
• Expand its derivatives product offerings to include new markets like forex and stock futures.

Huobi ECO Chain: A Competitor to Ethereum

Heco is Huobi’s high-throughput public blockchain aimed at addressing the limitations of Ethereum, such as high gas fees and slow transactions. The chain supports Ethereum Virtual Machine (EVM) compatibility, which facilitates cross-chain interoperability and smart contract execution.

Milestones of the Injective Protocol

Testnet Launch and Derivative Markets

Injective launched its testnet in November 2020, featuring an early access program that:

• Tested the network’s capabilities.
• Rolled out innovative markets like decentralized forex and stock futures.

Integration with Binance Smart Chain

Before collaborating with Huobi ECO Chain, Injective established integration with Binance Smart Chain, marking its commitment to cross-chain operability and partnerships with leading blockchain ecosystems.

The Equinox Staking Program

Injective Protocol introduced Equinox, a staking incentive program to prepare for its mainnet launch in Q2 2021. This program allows:

• Validators and delegators to stake tokens on the Injective platform.
• Increased network security and user engagement ahead of the mainnet launch.

Market Performance and Token Growth

INJ Token

• The INJ token, Injective’s native cryptocurrency, has surged 11% recently, reaching $12.70.
• Over the past 30 days, the token has seen a remarkable 145% growth, hitting an all-time high of $13.65 on February 6.

Huobi Token (HT)

• HT has also risen by approximately 5%, touching the $9 level.
• The token has experienced a 110% gain since the start of 2021, reflecting increased market enthusiasm for Heco.

Future Prospects

The collaboration between Injective Protocol and Huobi ECO Chain marks a significant step forward in DeFi innovation and cross-chain derivatives trading. By leveraging Heco’s EVM compatibility, Injective aims to attract traders looking for cost-efficient and scalable solutions while bridging assets seamlessly.

As Injective prepares for its mainnet launch, its expanding partnerships and innovative features position it as a leader in the decentralized derivatives market.

Conclusion

Injective Protocol’s collaboration with Huobi ECO Chain showcases the evolving landscape of cross-chain DeFi derivatives. The partnership emphasizes efficiency, innovation, and accessibility, offering traders advanced solutions in a fast-growing market.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.