Injective Doubles Down on Strategic Partnership With Band Protocol Through Mutual Node Operations
Injective Protocol, the first layer-2 DEX that unlocks the full potential of decentralized derivatives and borderless DeFi, is expanding its strategic partnership with Band Protocol by operating a BandChain validator node to support the decentralized oracle network. In return, Band Protocol has completed setup for a node on Injective and begun participation in Equinox Staking — Injective’s incentivized staking competition on the testnet in preparation for their upcoming Mainnet.
Previously, Band Protocol alongside Injective, Terra and Mirror Protocol launched the world’s first decentralized stock futures trading for traditional stocks such as Tesla, Airbnb, GameStop, Twitter, Amazon, and more.
The mutual node operation comes in the reinforcement of our strategic partnership where Band Protocol oracles will be integrated into Injective Protocol decentralized stock futures, derivatives and wider DeFi ecosystem.
“We have been close friends with Band Protocol since the early days of Injective. We’re really excited for the Cosmos ecosystem projects to work together and secure a robust oracle and derivatives primitive alongside Band Protocol right from the start!”
Eric Chen, CEO of Injective
With the enhanced alignment in interests, Band Protocol looks forward to supporting the Injective ecosystem through secure and scalable decentralized oracle technology. Given Injective Protocol’s strong cohort of Equinox genesis validators and diligent process towards Mainnet launch, we have no doubt in their team's execution ability and are delighted to extensively collaborate in the long term.
“Band Protocol has been a close collaborator of Injective from the beginning — most notably, our teams launched the world’s first decentralized stock futures trading in collaboration with Terra and Mirror Protocol. We are proud to become a genesis validator on Injective in the lead up to their Mainnet and vice versa, have their team operate a BandChain node to further both teams’ interests.”
Soravis Srinawakoon, CEO & Co-Founder of Band Protocol.
About Injective Protocol
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing. Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
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About Band Protocol
Band Protocol is a cross-chain data oracle platform that aggregates and connects real-world data and APIs to smart contracts. Blockchains are great at immutable storage and deterministic, verifiable computations — however, they cannot securely access data available outside the blockchain networks. Band Protocol enables smart contract applications such as DeFi, prediction markets, and games to be built on-chain without relying on the single point of failure of a centralized oracle. Band Protocol is backed by a strong network of stakeholders including Sequoia Capital, one of the top venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
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