The Integration Will Expand Harmony Defi Ecosystem by adding cross-chain derivatives and Access to New Assets for Users
United States, April 12, 2021 /AlexaBlockchain/ – Harmony, a sharding protocol with a trustless Ethereum bridge, has partnered with Injective Protocol, a Layer-2 decentralized exchange, offering a wide array of financial derivatives.
The Harmony-Injective integration will expand Harmony DeFi ecosystem by adding cross-chain derivatives and access to new assets for users. Harmony stated that this integration with Injective will bring tremendous value to both Harmony and Injective users.
Harmony users can find new channels for native Harmony assets, such as the ONE token with hedging features or trading across other layer-1 protocols.
Injective users will have access to a whole new set of assets with which to trade and use them to form indices or cross-chain financial products.
What is Harmony?
Harmony is a sharding protocol with a trustless Ethereum bridge. Harmony developers can use Ethereum tooling such as Solidity and Ether.js. Users can also seamlessly swap Harmony and Ethereum assets. Harmony is able to achieve 2-second finality for fast transactions and is able to support 1000 delegating stakers for secure shards. Similar to layer 2 protocols, Harmony is now fully interoperable with the Ethereum ecosystem.
What is 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 is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
Last week, Harmony announced partnership with Benchmark Protocol and the deployment of Sushi on Harmony. This partnership with Injective Protocol continues on its goal of growing the Harmony DeFi ecosystem on behalf of its users and community.