.PanteraCapital and jump_ are among the backers of an ecosystem initiative from Injective_, a layer 1 blockchain for interoperable financial apps. BrandyBetz reports
Injective, a Cosmos-based layer 1 blockchain for building finance apps that can access other blockchains, unveiled a $150 million ecosystem initiative with partners including crypto investment firms Pantera Capital and Kucoin Ventures, market maker Jump Crypto and research and development hub Delphi Labs.
“It certainly accelerated because of the recent failures of centralized players,” said Chen “But it wasn’t difficult at all, for us at least, because a lot of the backers have formally or informally participated in the ecosystem, supporting projects.” Injective-based apps cover a range of financial verticals, including exchanges, options, derivatives and lending. The initiative will support projects that focus on interoperability, DeFi, trading, infrastructure and scalability solutions. Other backers include Gate Labs, Flow Traders, IDG Capital and Kraken Ventures.
Injective's decentralized smart contract platform was created using Cosmos' software development kit and provides developers with modules to speed up the development of complex protocols. Injective protocols have interoperability through the native access to chains enabled withThe ecosystem is powered by the INJ token, which has a market cap of about $144.6 million, according to
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