ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
Home
Press release
Jul 29, 2020 12:00 JST
Source:
Injective Protocol
Injective Protocol Raises $2.6M For Decentralized Derivatives Exchange Protocol
Prominent Institutional Investors Back Decentralized Cryptocurrency Derivatives Exchange
NEW YORK, N.Y., Jul 29, 2020 - (ACN Newswire) - Injective Protocol, a fully decentralized derivatives exchange protocol, has raised $2.6 million dollars in a seed funding round led by Pantera Capital with participation from world renowned institutional investors including QCP's investment arm QCP Soteria, Axia8 Ventures, and OK's strategic investment partner K42.
Injective Protocol aims to solve critical scalability and user experience bottlenecks that trouble decentralized exchanges (DEXs). Beyond providing working capital, the new strategic investors will also provide liquidity solutions for the decentralized exchange as well as support Injective Protocol's business development and market brand recognition internationally.
Paul Veradittakit, Partner at Pantera Capital, commented on Injective Protocol:
"Injective Protocol scalably brings advanced derivatives capabilities to DeFi while being uncompromisingly decentralized. We see Injective as a strong contender to expand DeFi beyond just Ethereum power users and to serve as an integral layer ushering the new dawn of decentralized derivatives."
Selected as one of the eight projects to join the Binance Labs Incubation Program in 2018, Injective Protocol has sought to improve the poor liquidity, high latency and lack of compelling product offerings that characterized decentralized exchanges. Today, Injective Protocol's Layer-2 derivatives exchange protocol provides a fully decentralized, trustless, and front-running resistant exchange protocol that improves the experience of decentralized derivatives trading.
The fresh round of funding arrives in time as the team gears up for mainnet launch and token issuance in the later half of this year.
The disclosed list of investors for the round includes Pantera Capital, QCP Soteria, K42, Axia8 Ventures, Boxone Ventures, Bitlink Capital, BitScale, Krypital Group, The Cabin Capital, and Innovating Capital.
About Injective Protocol
Founded in 2018, Injective Protocol is a fully decentralized, front-running resistant layer-2 decentralized exchange protocol. The protocol is based on the Cosmos-SDK and Ethereum network that integrates a verifiable delay function (VDF) to prevent trade manipulation and front-running. The company was incubated by Binance Labs.
For More Information:
Website:
http://www.injectiveprotocol.com
Twitter:
https://twitter.com/InjectiveLabs
Medium:
http://medium.com/injective-labs/
Telegram:
https://t.me/joininjective
Press Contact:
contact@injectiveprotocol.com
Source: Injective Protocol
Sectors: Exchanges & Software, Crypto, Exchange, Blockchain Technology
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST
Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST
Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST
Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category)
Apr 18, 2024 10:53 JST
All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating
Apr 18, 2024 09:22 JST
Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan
Apr 17, 2024 16:17 JST
Honda Unveils Next-generation EV Series for China
Apr 17, 2024 12:15 JST
Lexus presents Time at the 2024 Milan Design Week
Apr 16, 2024 18:49 JST
Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA
Apr 16, 2024 14:36 JST
New circuit challenge for TOYOTA GAZOO Racing
Apr 15, 2024 17:21 JST
TOYOTA GAZOO Racing back on asphalt for Croatian challenge
Apr 12, 2024 19:36 JST
Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project
Apr 12, 2024 14:39 JST
MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors
Apr 11, 2024 18:08 JST
Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS)
Apr 11, 2024 17:50 JST
DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission
Apr 11, 2024 15:10 JST
Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp
Apr 11, 2024 13:07 JST
Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine
Apr 10, 2024 16:55 JST
Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024
Apr 10, 2024 13:36 JST
DENSO, Companies Initiate Demonstration to Expand Automotive Recycling Process
Apr 09, 2024 19:07 JST
Mitsubishi Power Receives Order from HK Electric for Natural-gas-fired GTCC Power Generation Equipment
Apr 09, 2024 15:04 JST
More Latest Release >>
Related Release
WOOTRADE Announces Strategic Partnership with Injective Protocol
June 12 2020 08:00 JST
More Press release >>