Injective Protocol Launches Fully Decentralized Stock Trading

Place/Date: Palo Alto, CA - December 24th, 2020 at 11:04 am UTC · 3 min read
Source: Injective Protocol

Injective Protocol Launches Fully Decentralized Stock Trading

Photo: Injective Labs / Medium

December 21, 2020, 8 AM PT: Injective, the first universal DeFi protocol for cross-chain derivatives trading, launches the first-ever decentralized stock trading through partnerships with Terra and Band Protocol. The release will begin with the trading of Tesla, Airbnb, Google, and Amazon. Over the coming weeks, we will be adding a number of new markets to the platform as well.

Anyone can leverage the Injective Solstice V2 network to buy stocks via USDT in a completely decentralized manner with zero gas fees. Injective enables 1-second block times and instant finality, leading to unparalleled scalability and speed. Injective integrates with Band Protocol’s oracle technology to provide secure decentralized price feeds for stocks, as well as Terra’s framework to tokenize traditional stocks.

Eric Chen, CEO of Injective Protocol, said:

“We strive to make finance more accessible and available to anyone through decentralized protocols. Investing in stocks still remains inaccessible for billions of people worldwide while the existing platforms act as gatekeepers and suffer from technical challenges. Injective helps to seamlessly rectify these salient issues to allow anyone to trade stocks with zero fees.”

Robinhood and Interactive Brokers had outages just this December, effectively locking individual investors out of their brokerage accounts while the markets were moving. Traditional stock exchanges also often charge significant fees per trade which can quickly become exorbitant. While platforms like Robinhood claim to have “zero trading fees”, they’re making money through market maker rebates, which ends up increasing the costs for traders.

Injective was first incubated by Binance Labs back in 2018 and also recently conducted a public offering on Binance Launchpad. The project is backed by a prominent group of investors including Binance, Pantera, and Hashed. Injective has built the first layer-2 decentralized exchange protocol that unlocks the full potential of borderless DeFi. It enables fully decentralized trading in various forms including perpetual swaps, futures, margin, spots, etc. Every component of the protocol is built to be fully trustless, censorship-resistant, publicly verifiable, and front-running resistant.

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 was incubated by Binance Labs and backed by $3M in funding from Pantera, Binance, Hashed, and other notable investors.