xHack 2022: Recap
The Injective Labs team made its way to xHack, an interoperability-focused hackathon hosted by Wormhole, where teams from various major blockchains came together to build, judge, and assist new developers within the space.
The Injective Labs team attended to view all the new, upcoming projects and assist developers building on Injective.
xHack was hosted by Wormhole, an interoperability protocol connecting prominent layer 1s together, expanding the reach of assets and data. As key partners, Injective Labs team members were invited to speak at a panel and also to hold open office hours for developers building on Injective.
During this time, Injective was not only able to create a better connection with Wormhole, but also able to strengthen its relationships with Go, Rust, and CosmWasm developers. In addition, Injective solidified some key relationships with major players in the crypto space. The team worked to provide technical support while also aiding them in the creation of highly performant dApps.
Injective provides builders with the best environment for creating finance-focused dApps. Injective is also the only blockchain in the interchain ecosystem to bring an interoperable CosmWasm-enabled environment that is able to plug into Wormhole. Furthermore, Injective is the only blockchain to give developers an unfair advantage with its word class financial primitives such as its on-chain order book and binary options which enables a diverse array of new opportunities not possible anywhere else.
While the team encountered many new projects and builders, there were three new projects that caught the attention of the Injective Labs team.
Cross-chain accounts for interacting with non-IBC chains, xAccounts takes IBC further by allowing blockchains connected through Wormhole to connect to IBC-enabled chains. xAccounts allow anyone on Injective, for example, to execute actions on other blockchains connected via Wormhole.
An order book spread protocol, PuniSwap enables users to leverage spreads on Injective’s order book to earn fees. They do this by arbitraging spreads on Injective’s on-chain order book, helping to create a more capital-efficient environment for traders across all Injective exchange dApps.
3. Bitcorn Exchange
Utilizing Injective’s core exchange module, Bitcorn showcased a highly memeable decentralized commodity futures exchange that allowed users to speculate on products, such as corn.
Both xAccounts and Bitcorn received a grant from the Wormhole team to continue building out their products, expanding the Injective ecosystem. The Injective Labs team is also in direct contact with all projects that utilized Injective’s technology during xHack.
Eric was invited to speak on a panel entitled, “Why Did You Start a Layer 1?” and was able to speak on how Injective was born out of a need to build the first sector-specific blockchain with tailored solutions for DeFi.
After the panel, Eric held scheduled office hours to speak directly with developers looking to build projects on Injective and to further polish their apps for demo day.
As these teams move forward with their new grants to build, the Injective Labs team is excited to integrate them further into the Injective ecosystem. As always, we encourage all interested builders to join us in our mission of bringing decentralized finance to the masses. You can start building today by taking a quick look at the Injective Docs or get in touch with the Injective community directly via Discord.
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.