Injective Integrates Polkadot Assets to Expand the Cross-Chain Universe
The Injective ecosystem now officially supports Polkadot native assets, allowing Injective to be the primary gateway for cross-chain Polkadot assets to enter the Cosmos universe.
This integration will be made possible by Moonbeam, an EVM compatible smart contracts platform for Polkadot. In addition, Axelar will act as an interoperability network that facilities the bridging process behind the scenes.
What is Polkadot?
Polkadot is a sharded mutichain protocol that connects and secures a network of specialized blockchains. Sharded chains are referred to as “parachains” because they run on the Polkadot network in parallel. Polkadot is powered by a shared security model which means that all parachains built on Polkadot are secured by a shared group of validators.
Each parachain on Polkadot has its own special focus. For instance, Moonbeam is currently the most popular Polkadot parachain that provides an EVM development environment for users to deeply EVM compatible dApps on Polkadot.
How did Injective integrate Polkadot assets?
Support for Polkadot assets was made possible via integrations with both Moonbeam and Axelar.
On a high level, Injective integrated with Moonbeam which supports Polkadot based assets. Axelar is an interoperability network that facilitates the bridging transaction for Polkadot assets on the backend.
Of course all of the technical complexities are abstracted away for the end user so that they can bridge over assets from Polkadot to Injective in just a few clicks!
How can I start bridging Polkadot assets to Injective?
You can begin transferring assets from Polkadot using the Injective Bridge. Simply connect your MetaMask or ledger wallet, select Moonbeam from the dropdown menu on the Bridge and press the “Transfer now” button.
Note: You will need to add the Moonbeam network to your MetaMask if you have not done so in the past. You can find detailed instructions for how to do so here.
Why is this integration important for the Injective ecosystem?
The integration of Polkadot assets positions Injective into becoming the primary gateway for Polkadot assets to enter the interchain Cosmos universe.
A diverse array of dApps on Injective can now provide new functionalities unlocked by Polkadot native assets. For example, exchange dApps built on Injective can begin to offer spot market trading for Polkadot assets such as DOT.
New dApps building on Injective can enjoy the benefits of a truly interoperable network now that Injective supports major chains such as Cosmos, Ethereum, and Polkadot. Upcoming integrations with EVM compatible chains and Solana will continue to expand the possibilities for users on Injective.
Injective is an interoperable blockchain for building powerful DeFi & Web3 applications. Injective provides out-of-the-box orderbook and derivatives primitives needed to create mainstream DeFi apps. Smart contract enabled apps on Injective are natively compatible with Ethereum and Cosmos IBC while also being able to achieve instant transaction finality. INJ is the native deflationary scarce asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.