Injective is Collaborating with Conflux to Expand Cross-Chain Derivatives Trading
Injective is collaborating with Conflux to expand the cross-chain derivatives trading universe. This collaboration will be primarily focused on bridging over assets deployed on Conflux onto the Injectibe exchange in order to aid in the creation and trading of new derivative products.
Conflux is a layer one blockchain protocol that delivers heightened scalability, security, and extensibility for the next generation of decentralized commerce. The project is led by Turing Award recipient Dr. Andrew Yao and is backed by the likes of Sequoia China and Baidu Ventures.
Using the novel GHAST protocol for consensus, Conflux Network optimistically processes blocks without discarding any as forks and assigns weights to each block according to the Tree-Graph ledger structure. The GHAST protocol and the Conflux infrastructure have been rigorously proven to achieve 3,000+ transactions per second without sacrificing security or decentralization even under adversarial conditions.
Given Injective’s EVM compatibility, the integration process is projected to be relatively seamless. In addition, Conflux supports a modified version of Solidity (the main contract language in Ethereum) and Ethereum Virtual Machine (EVM) for its smart contracts, so that smart contracts from Ethereum can migrate to Conflux easily.
“Injective has helped to create a new paradigm with respect to derivatives trading. This collaboration will undoubtedly help to introduce new Conflux products to users we would not otherwise have been able to reach. We look forward to deepening this relationship overtime,” said Fan Long, Conflux Founder.
Injective will also look to create new derivative products using the native Conflux token as well as assets built on top of Conflux. This can include new indices or financial products created by the Injective DAO.
“We are excited to be the first derivatives exchange to work alongside the Conflux ecosystem. It is our fundamental belief that robust assets will exist within a number of layer one protocols, so adding Conflux to our array of products will aid our users in being able to access novel derivative products not found elsewhere in the market,” said Eric Chen, Injective Labs CEO.
Conflux is the only state endorsed public, permissionless blockchain project in China. It is an open-source, layer-1 blockchain protocol delivering heightened scalability, security, and extensibility for the next generation of open commerce, decentralized applications, financial services, and Web 3.0. Conflux is overseen by a global team of world-class engineers and innovative computer scientists, led by Turing Award recipient Dr. Andrew Yao. Founded in 2018, Conflux has raised $35 million in capital from prominent investors including Sequoia China, Metastable, Baidu Ventures, F2Pool, Huobi, IMO Ventures, and the Shanghai Municipal Science and Technology Commission.
Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications. Injective was created using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.