Injective Protocol

Fast, Secure, and Fully Decentralized Trading

What is Injective Protocol?

Injective Protocol is an end-to-end decentralized protocol allowing decentralized perpetual swaps, futures, margin and spot trading. We have built every component of our protocol to be fully trustless, censorship-resistant, publicly verifiable, and front-running resistant.
The protocol itself is principally comprised of the Injective Chain, the Injective Exchange, and the Injective Futures platform.

Injective Chain

The Injective Chain is a layer-2 sidechain and Cosmos Zone connected to Ethereum. We leverage verifiable delay functions (VDFs) to enforce a fair transaction ordering consensus that reflects real-world time via proof-of-elapsed-time, solving critical race conditions and miner extractable value issues present in Ethereum.
Currently, Injective Chain powers our layer-2 derivatives platform, serves as a decentralized Trade Execution Coordinator (TEC), and hosts a decentralized open orderbook. The chain itself is built on top of Tendermint and allows for transferring and trading Ethereum-based assets on the Injective Chain. In the future, Injective will be integrated with Cosmos IBC, bringing advanced inter-chain decentralized finance capabilities.

Injective Exchange

Unlike traditional exchanges which serve as the gatekeepers of the crypto industry, Injective makes exchange a decentralized public utility. What truly differentiates Injective is that we decentralize and open source every component of decentralized exchange. Everything — from the front-end exchange interface, back-end infrastructure, smart contracts, to orderbook liquidity — is provided openly and for free. This turns the traditional business model of exchange on its head, as we eliminate the technical barrier of entry for one to permissionlessly run a highly performant exchange.
Injective’s model instead rewards relayers in the Injective network for sourcing liquidity. By doing so, exchange providers are incentivized to better serve users, competing amongst each other to provide better user experience, thus broadening access to DeFi for users all around the world.

Injective Futures

The Injective Futures protocol is a decentralized peer-to-peer futures protocol which currently supports decentralized perpetual swaps, contracts for difference (CFDs), and many other derivatives! Our protocol allows individuals to create and trade on arbitrary derivative markets with just a price feed.
Huge shoutout to the talented UMA team for pioneering the priceless construction and for their deep expertise in helping us design our futures protocol!

What are we most excited about?

With the launch of our mainnet in the third quarter of 2020, we are excited to release the world’s first end-to-end fully decentralized exchange protocol tackling the huge global derivatives market. Our beta testnet along with tutorials for developers to try out will be released soon!
Here is a sneak peek into some of the exciting features in the works:
  • New Decentralized Futures & Derivatives Markets
  • Integration with more DeFi platforms
  • Cross-chain trading
And most importantly, we are stoked to have you along with us on this journey of building a new decentralized and borderless financial system. To learn more, follow us on our various social media below and be part of the discussion in our growing community.

What can Injective Protocol do?

During our Korean Launch AMA on Kakaotalk, we received a number of questions in regards to derivatives markets and the vision of Injective in regards to these markets (Read about our Korean Launch here). Derivatives in the crypto space have enormous potentials and market fit, as centralized derivatives exchanges like Bybit, Deribit, and FTX have proven this past year.
Injective Protocol is fully decentralized in nature, which allows for the permissionless creation of derivative products and these derivatives markets will run on our decentralized peer-to-peer futures protocol.
Injective Protocol supports perpetual swaps, contracts for difference (CFD), and will continue to prepare and provide for other derivatives products. Furthermore, Injective Protocol allows individuals to create and trade on arbitrary derivative markets with just a price feed. We believe that this is a huge, untapped market with much demand and opportunity to serve unmet needs that even current centralized exchanges do not (or rather cannot) meet.
The team resolved the issue head-on regarding user experience by using a Layer 2 protocol. Ethereum’s 15+ second average block time along with its probabilistic finality greatly throttle trade throughput and turnover. This means that market makers cannot react quickly to market changes and thus incur additional risk by making markets on DEXes. The result is that DEXes act as a secondary market where users face more inefficient prices/higher spreads which ultimately results in less liquidity. By implementing our own decentralized trade execution coordinator which allows for free and near-instant order cancellations and greatly increasing trading speed by scaling our exchange execution and settlement on our own Layer-2 chain, these limitations are effectively broken.
This is all powered by the Injective Chain which operates our Layer-2 derivatives platform, serves as a decentralized Trade Execution Coordinator (TEC), with a decentralized orderbook. (Head on over here to read more about our ecosystem)

Team

Eric Chen: CEO
Albert Chon: CTO
Max Kupriianov: Principal Engineer
Bojan Angjelkoski: Frontend Engineer
Alexandros Athanasopulo: Blockchain Engineer
Ivan Paskov: Researcher
Vighnesh Iyer: Researcher
Author: pejuang cod

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