Injective Launches the World’s First Decentralized Stock Futures Trading Platform in Partnership with Mirror and Band Protocol
Injective Protocol, a high-speed layer 2 derivatives exchange also built on the Cosmos SDK, is strategically partnering with Mirror Protocol to build atop Mirror’s framework of tokenizing traditional stocks to provide decentralized futures stock trading. Injective’s new feature enables users on their Solstice Testnet to access the $90 trillion stock market in a decentralized fashion, powered by Band Protocol’s oracles. Beginning with Tesla, Airbnb, Google, and Amazon, Injective will continue to add new markets to its platform, leveraging Mirror’s market prices to enable 24/7 global access to stock futures.
Scaling Global Price Exposure to Popular Assets
In the ethos of furthering global accessibility for price exposure to the US stock market, which is only available to a limited group, we are proud to announce our partnership with Injective and Band Protocol. Currently, equitable access to popular assets is highly limited, bound to the US both geographically and in terms of market hours. In recognition of these barriers to entry, Mirror Protocol recently launched to offer synthetics that mirror the price of real-world assets, granting users global 24/7 price exposure to a variety of stocks and ETFs. Demand for such access is reflected in over $100M in assets currently locked on Mirror.
To increase exposure to synthetics mirroring real-world assets to an even broader audience, Injective is the first to launch decentralized futures stock trading on the Solstice Testnet. Initially offering Tesla, Airbnb, Google, and Amazon, Injective will continue to expand their offering, curating a trading experience marked by zero gas fees and uninterrupted 24/7 access from anywhere across the globe. Band provides a decentralized oracle, one secured by a unique and diversified validator set, to expand support into traditional equity markets. To maintain price data for trading outside of traditional market hours, Injective leverages market prices from Mirror.
“We are excited to be working with titans in the blockchain sector such as Band Protocol, Terra, and Mirror Protocol as we launch stock futures trading. This will undoubtedly help lead to a paradigm shift in decentralized derivatives trading,” said Injective CEO, Eric Chen.
The Advent of Interchain DeFi
With the addition of new stocks, ETFs, and indices in the future, we look forward to seeing decentralized stock trading continue to grow. Mirror Protocol has been designed to be compatible with other networks from the very beginning, and as such, we are excited to see the synergy from this partnership form the basis of interchain interoperability.
“Creating and shipping cutting-edge DeFi products requires a highly flexible architecture on all layers including blockchain platform and most importantly, oracles. Band Protocol partnering up with Terra and Injective Protocol to provide access to stock future trading unifies all three marketing leading innovators in decentralized platforms, applications and security,” said Soravis Srinawakoon, CEO & Co-Founder of Band Protocol.
As Injective innovates on the foundation of Mirror Protocol, with both protocols powered by Band’s decentralized oracle technology, we are thrilled to see composability across DeFi products and protocols lead to a bridging of the gap not only between different blockchains, but also between centralized and decentralized finance, with the generation of real-world value always at the forefront. With regards to benefits for MIR stakers, an increase in trading activity of Injective increases fee accrual for MIR tokens, as CDP redemption fees for each mAsset are directed towards MIR stakers, regardless of the platform upon which they are traded.
“We’re entering a significant new phase for DeFi, particularly cross-chain DeFi, where porting TradFi assets onto permissionless blockchains augments their characteristics with composability,” says Do Kwon, Co-Founder and CEO of Terra. “Collaborating with Injective and Band Protocol, we envision DeFi consisting of decentralized derivatives markets that reflect any TradFi asset side-by-side with crypto — fueled by the accessibility that blockchains afford a global set of users.”
Mirror, Injective, and Band Protocol are unified in our vision to democratize opportunities within the financial sector. We will strategically continue to add support for new stocks, indices, ETFs, and other unique derivatives. Together, we are collectively confident in Injective’s ability to deliver a never-seen-before and unparalleled derivatives trading experience for everyone globally.
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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About Mirror Protocol
Mirror Protocol is a DeFi protocol powered by smart contracts on the Terra network that brings price exposure to real-world assets on-chain. Bridging DeFi with traditional markets, Mirror introduces mAssets — synthetics that can be held in fractional amounts and transacted without involving real assets, while maintaining open access and censorship resistance. Though developed by Terra, Mirror is a decentralized protocol from the onset, with all decisions determined by on-chain governance.
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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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