It’s a bird, it’s a plane, it’s…Bitcoin derivatives!
Bitcoin DeFi, DeFi for Bitcoin, #BitFi, whatever you’ve taken to calling it, jumped into the limelight yesterday as Injective Protocol announced they’ll be integrating with Stacks to give users access to new Bitcoin-based derivatives. Dubbed a ‘DeFi Robinhood’ by TechCrunch , Injective is hot off a $10 million fundraise from the likes of Pantera Capital, Mark Cuban, BlockTower, and is also backed by Binance.
Derivatives created on Injective, such as expiry futures, synthetics, and perpetuals, are fully decentralized and accessible to everyone. By integrating Stacks, Injective enables users to create both perpetual contracts and expiry futures markets for unique Bitcoin derivatives that are actually tied to the Bitcoin network itself. Through the Injective ecosystem, traders will be able to freely take part in new forms of market creation such as expiry futures and perpetuals across distinct networks.
In addition to Stacks, the team has begun working on integrations with other top blockchains such as BSC , Polkadot , Avalanche , and NEAR . With Stacks, they will be able to launch derivatives based on the Stacks token (STX) alongside native assets built on the Stacks blockchain, effectively creating a bridge that allows for both market creation and trading for STX, as well as other tokens based on the Bitcoin network.
We’re looking forward to supporting Injective with their integration work and can’t wait to see these products available to users. It’s clear that DeFi’s future is open, collaborative, and includes Bitcoin in a major way.
1/ Injective is integrating with @Stacks to enable fully decentralized #BTC derivatives ⚡️
@InjectiveLabs users will be able to access derivatives that are based on the Stacks token (STX) alongside native assets built on the Stacks blockchain.
— Injective 🥷 (@Injective_)
Jun 10, 2021
Bitcoin DeFi: Injective Protocol to Leverage Stacks for Fully Decentralized Bitcoin Derivatives DeFi for Bitcoin takes another step into the limelight today as Injective Protocol announced they’ll be integrating with Stacks to give users access to new Bitcoin-based derivatives. Dubbed a ‘DeFi Robinhood’ by TechCrunch , Injective is hot off a $10 million fundraise from the likes of Pantera Capital, Mark Cuban, Blocktower, and is also backed by Binance. Read more here .
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