Injective Protocol Raises $40M to Expand Ecosystem

Resources for Ecosystem, Liquidity, New Products

Blockchain platform Injective Protocol has successfully raised $40 million from a funding round led by Jump Crypto. Also joining in was BH Digital, the cryptocurrency initiative of famous hedge fund manager Alan Howard.

The money raised will help boost the project's INJ token, support liquidity for decentralized applications on Injective, and develop new products. 

“This funding round definitely helps us to make sure there are sufficient resources to grow the ecosystem, further boost the liquidity on Injective, and attract diverse applications to build on Injective,” Vivian, the Marketing Manager of Injective Protocol, told BSC News.

With the help of Jump, a major fund in the crypto industry with significant blockchain expertise, the Injective network will expand and more liquidity will be put in the ecosystem than before. Additionally, BH Digital is the cryptocurrency arm of Brevan Howard, one of Europe's largest hedge funds with $13.7 billion in assets under management, making it a solid launch pad to help Injective connect closer to traditional markets and sizable financial investment institutions.

Injective began as a layer-two Decentralized Finance (DeFi) protocol for cross-chain derivatives trading. Its INJ token was opened for sale on Binance Launchpad in October 2020. Built in Cosmos, Injective launched its layer-one mainnet in November 2021.

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What is Injective Protocol:

Injective is an open, interoperable, layer 1 blockchain built for finance applications. It provides solutions tailored for DeFi developers to quickly build and launch dApps for widespread use. Injective uniquely provides traditional finance infrastructures, such as an order book module, on-chain and is highly interoperable with prominent layer 1s, including Ethereum, Evmos, Axelar, and Moonbeam. 

Injective is built with the Cosmos SDK and utilizes a Tendermint proof-of-stake consensus for secure transactions with instant finality.

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Where to find Injective Protocol:

Website | Twitter | Reddit | Telegram | YouTube 

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