Injective and AllianceBlock in Strategic Partnership

Injective announced its partnership with AllianceBlock to release decentralized oil and gas futures.

The partnership between Injective and AllianceBlock seeks to take a step towards bridging the gap between traditional and decentralized finance.

Launching Decentralized Oil and Gas Derivatives

The initial process in the partnership is geared towards launching oil and gas derivatives. However, as time progresses, more asset classes like exotics would be added. Currently, AllianceBlock is developing a data tunnel by working with collaborators of Injective’s oracle, such as ChainLink.

“At AllianceBlock, it is our mission to build the first globally compliant decentralized capital market, and this partnership with Injective Protocol is an incredibly important step towards achieving this goal. This is a great step towards enriching the derivative ecosystem, and in turn the next generation of investment banking infrastructure we are so proud to be developing,” said Rachid Ajaja, CEO and co-founder of AllianceBlock.

“This collaboration will allow institutional traders to fully engage with the burgeoning DeFi ecosystem. This partnership is a notable development that will ensure the well-functioning of the derivatives ecosystem we are building and we are delighted to be enhancing our market position by partnering with Injective Protocol in pursuit of the development of this ecosystem,” he added.

More Info

With Injective, AllianceBlock will be able to generate new derivative products that are currently unavailable in the ecosystem. Such products include the possible development of new crypto indices that will assist crypto investors in gaining exposure to new asset forms.

As a result of this partnership, AllianceBlock will be able to source additional liquidity because they can now be traded on Injective’s decentralized derivatives exchange.

Eric Chen, Injective CEO, notes, “We are thrilled to be working alongside the team at AllianceBlock. This also enables us to further our mission in bridging together traditional finance with DeFi. Oil and gas futures are some of the most commonly traded commodities in traditional markets but have thus far been inaccessible within DeFi. On Injective, traders will now be able to trade these markets and much more on the first truly decentralized derivatives exchange.”

Currently, Injective has added new innovative markets to its derivatives exchange, including yield farming derivatives and stocks such as Tesla. In the course of the partnership, Injective will also expand its derivatives trading ecosystem by utilizing AllianceBlock’s innovative impermanent loss hedging product. This partnership shows that Injective is actively working to explore new means to promote DeFi adoption.

Before now, Injective Protocol announced the launch of the first-ever decentralized forex futures trading in the world. Therefore, traders will be able to participate in a highly developed form of trading.

INJ Price

As of the time of writing, Injective Protocol price was $16.35, with a 24-hour trading volume of $44,869,803. INJ price also went up 5% in the last 24 hours. Besides, it has a circulating supply of 13.5 million INJ coins and a max supply of 100 million. Binance is also the current most active market trading INJ.

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