Injective Exchange to Face Revamp as Full Spot and Perpetual Markets Launch on Equinox Testnet

In preparation for the mainnet release, the team at Injective Protocol launches a complete revamp of the protocol from the ground up. Each product feature is upgraded, supported by the major improvement of the exchange that suits users’ needs.

Revamp of the Injective Exchange

The protocol has launched its Testnet program, testing its Spot and Perpetual Markets on the Equinox staking. A walk-through guide was posted to show users the functions of the exchange. The guide is aimed at collecting feedback from the community in the shortest possible time. The guide includes token mint on the Kovan Network, USDT transfer guide, placing limit and market orders, canceling orders, etc.

As preparations get more robust, the Injective Exchange upgrade has been accompanied by series of improvements to its trading engine detailed yesterday, 18th June, in an Injective Protocol Blog Update on Medium. The details of the enhancements below expand on the culmination of several significant improvements across the frontend user interface and core backend logic for the order book model.

Entirely New Infrastructure Powering the Exchange

The protocol has undergone a series of tests in the past, including the SolsticeSolstice V2, and Solstice Pro. The team has used the information gathered from these events to improve the Injective Exchange engine revamping an entire structure to enable genuinely decentralized trading that is lightning fast. 

CEO and Co-Founder Eric Chen took to Twitter to describe how the team accomplished the task. Chen explained how the Injective team met in person during covid to revamp the entire platform before the Equinox release. What we have now is a more improved version of the Solstice exchange released last year.

Source

Upgraded Oracle Module

The protocol will provide users with a wide array of oracle resources available in its module. The injective oracle module allows markets to be proposed based on various oracle providers, e.g., Coinbase, Chainlink, and Band Protocol. On Injective, users can launch derivatives using just price feeds.

The module does not expand on users’ choices, helps aggregate prices from different sources but also help in managing price manipulation, ensuring it never happens. 

High Throughput and Transaction Speeds

Compared to other top existing Decentralized Exchanges, which have a Transaction-Per-Seconds (TPS) of just 20, Injective Exchange has been enhanced to handle 10,000 TPS. These rates make it a highly scaled Decentralized Exchange (DEX) protocol and far surpasses the rate of Ethereum.

Injective Protocol

Decentralized Governance

Both spot and perpetual markets have now launched based on the Governance proposal on Equinox. The entire listings of both platforms will be determined by users who have staked their INJ on the Equinox staking protocol (Governance). Governance will have the power to make new markets and vote on new listings.

Enhanced User Interface UI

The front end of the protocol has been greatly improved to allow a more intuitive interface.  For example, traders can now dynamically reposition elements on the frontend, such as the charts or order book. These new customizable features will help to create a more tailored experience for each user.

Re-engineered Injective Codebase

The entire codebase has been changed from the ground up to create a more performant developer-friendly environment. The new native Typescript packages allow anyone to quickly deploy new applications or frontend interfaces on top of our protocol. In addition, these npm packages will help ease the process of interacting with the Injective Chain.

Metamask and Ledger Support

The protocol has added support for the Metamask and Ledger platform. Users can connect directly to the exchange and securely transact with these Web3 platforms without going through intermediaries.

About Injective Protocol 

Injective Protocol is the first decentralized multichain platform with an unmatched layer 2 trading engine. It’s the first protocol that unlocks the full potential of decentralized derivatives and borderless DeFi in a fast, secured and fully decentralized manner. 

Fully backed by a prominent group of global partners, including Mark Cuban, Panthera group, and Binance, the protocol enables access to unlimited decentralized markets for futures, perpetual spots, synthetics, and much more.

Source : bsc.news

Leave a Reply

Your email address will not be published.

en_USEnglish