Injective Protocol has introduced cutting-edge technology that would allow their traders to be able to trade forex futures on their decentralized platform.
Earlier, when one thinks of forex trading, one thinks of transactions that occur usually only in traditional markets and central exchanges alone. This, however, is about to totally change with Injective Protocol that is launching the first-ever decentralized forex future trading platform in the world. This was made known through a press statement shared with Coinspeaker.
According to this statement, users will now have access to trade forex through the decentralized exchange. Users will now be able to trade currencies like Euros and US Dollars. The platform also had its decentralized stock trading added to Coinbase Custody.
Users of the platform will have the possibility to trade forex perpetuals on the platform through its Solstice Pro network that gives all users more leverage than the traditional market. Invariably, a trader using this platform is able to better protect himself from risks that occur both in the traditional market and that of the crypto industry.
While we all know that forex in the traditional market involves trading international currencies and the interest rates in such markets, there are still some traders who trade forex based on events that happen across the varying geopolitical zones of the world which gives them an opportunity to harness profit.
However, regardless of these enormous trading opportunities, traders have generally been unable to enjoy this feature on decentralized exchanges. Injective changes this as it has been built to support all market types.
Eric Chen, the CEO of Injective Protocol, made it known that the protocol was designed to give traders a platform that would allow them to trade any market of their choice. He added that many markets that were unavailable to many would now become readily available for users via trading on the platform.
Injective Offers New Opportunities with Decentralized Forex Futures Trading
Trading forex futures on decentralized exchanges in previous times was almost impossible due to the number of challenges that the industry portends.
Despite the immense popularity of forex trading, it is almost impossible to trade via DEX. One reason is because of the inflexible framework that most of the DEXs are built on. There is no leeway especially when It comes to the issue of a novel market. Not to talk of the speed and efficiency thatbis needed to trade forex markets.
It is a known fact that trading on forex requires speed and enormous precision. Most DEXs of today depend on an Automated Market Maker (AMM) structure that usually leads to slow transactions and high price slippage. Any DEX operating an AMM would require a higher technology and an easier platform that would enable them to be able to trade easily on the platform.
Injective uses the first layer-2 DEX Protocol to give users access to an international market of DeFi whilst still allowing them trade on any market of their choice.