Conflux and Injective Launch Cross-chain Derivative Trading
Conflux Network and Injective Protocol announce their strategic collaboration through social media. Conflux network, an open network building next-gen e-commerce, took to its official Twitter handle to excitedly announce the strategic partnership. The partnership aims to achieve two goals: First, traverse through the existing assets of Conflux Network; second, create innovative derivatives and support its trading.
Inject Protocol, a universal Decentralized Protocol (DeFi), expressed its excitement on Facebook and Twitter; It’s thrilled to welcome Conflux Network and work on the phase 3 testnet. The company has achieved the incredible task of launching the Testnet early, making way for the early announcement of the mainnet launch.
In a blog post, Injective Protocol mentioned the collaboration would be spearheaded by computer scientist and Turing Award winner, Dr. Andrew Yao. The partnership is supported by industry giants like Sequoia China and Baidu Ventures. The blog expresses Conflux Network’s Founder, Fan Long’s views on the alliance. Injective’s contribution in innovating the derivative trading space is humongous, which will enable it to launch Conflux Network’s products in the market effectively.
Eric Chen, CEO of Injective Protocol, was thrilled to be associated with Conflux Network; he stated the collaboration is the first of its kind in the derivative market space. The strategic partnership would open a new dimension of innovative derivatives for its users that do not exist in the market at this point—the allies aim to work closely with assets present in layer one protocols to achieve that.
The post further highlighted the competitive advantages of the GHAST protocol and Conflux ecosystem: It supports as many as 3000+ transactions per second irrespective of any roadblocks in its way while abiding by all security protocols. Furthermore, Injective Protocol’s Ethereum Virtual Machine (EVM) functionality will smoothen the amalgamation of two ecosystems. Conflux Network’s compatibility with EVM and Solidity will enable smooth transfer of smart contracts from Ethereum to Conflux’s system.