Injective Protocol Partners with Big Data Protocol and Easyfi

Injective Protocol is the first of its kind: a layer-2 decentralized exchange protocol that unlocks the potential of decentralized derivatives. The Injective Protocol has just added one more transformation to the mix in partnering with EasyFi and Big Data Protocol.

Introduction

The decentralized finance (DeFi) ecosystem is growing at an impressive rate and the financial sector is seeking an unprecedented transformation. The Injective Protocol has just added one more transformation to the mix partnering with EasyFi and Big Data Protocol. Injective, a layer-2 exchange protocol utilizing DeFi to unlock the full potential of borderless finance. 

Partnerships

Injective first announced its partnership with Easyfi Network stating that the duo will be launching the first-ever synthetic stock futures lending platform. What this means for Injective users is that they can now partake in purchasing stock futures on the platform as well as lending and earning additional yield. 

Injective Protocol announced its partnership with Big Data Protocol (BDP), a Web 3.0 data marketplace to create and launch structured data token products. The partnership will allow Injective to create and trade data derivatives based on the BDP Data Market. Since data token structured products can take on different forms, users will be able to trade tokenized data futures. Also, users can create new derivative markets to utilize these data tokens. The partnership will also enable Injective to create both perpetual and expiry futures. This is achieved through the chain’s Ethereum Virtual Machine (EVM), granting a compatible execution environment for futures.

The Significance

One of the benefits of Injective’s partnership with BDP is that users can create new markets such as indices and data tracking markets. Within the BDP ecosystem, users can buy one token to track the performance of all data tokens. Also, it opens up a world to market creation that is decentralized and permissionless. Markets that were previously inconceivable in the centralized finance marketplace are now possible in DeFI. 

EasyFi and Injective will collaborate to enable users to lend their stocks and make more profit through passive investing. EasyFi will add new markets to their lending module while Injective’s tokenized derivatives will act as collateral markets. Liquidity can be added to EasyFi’s lending protocol and users can also borrow assets from the borrowing side. However, only users who hold these derivative tokens of stocks futures can add liquidity to the supply side.

About Big Data Protocol

Big Data Protocol is a Web 3.0 data marketplace powered by Ethereum Network. The Protocol enables the tokenization of commercially valuable data in a network of about 14,141 professional data providers. These data tokens are made available on Uniswap and users can earn data by providing liquidity to data tokens. 

About EasyFi 

Easyfi is focused on the scalability and adaptability of DeFi. It utilizes a layer 2 lending protocol to achieve its goals. It runs on blockchain networks enabling borrowing and lending of assets. Overall, it boasts an open and inclusive financial network infrastructure.

About Injective Protocol

Injective Protocol is the first of its kind: a layer-2 decentralized exchange protocol that unlocks the potential of decentralized derivatives. Injective Protocol is backed by many heavyweights in the DeFi space. Binance, a leading centralized exchange, and Pantera Capital, a renowned venture capital firm, are a few notable investors. In short, Injective Protocol enables users to trade any derivative market of their choosing. 

Source : bsc.news

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