The adoption of synthetic assets is on the rise, and to further accelerate the process, a strategic partnership has been announced between Injective Partners and Fantom. The association will specifically explore the avenues to create a crop of new derivative products. Besides, the coming together will help bring the Fantom assets to the decentralized exchange of the Injective Partners.
Fantom is known for its innovative distributed ledger technology. It offers customers a range of services related to decentralized finance (DeFi). Among its important features, the ledger comes equipped with lending and borrowing services besides offering the services related to the synthetic assets.
The partnership will integrate the Ethereum bridge of Fantom with Injective partners’ decentralized exchange, which is fully EVM-compatible. In fact, this compatibility will make it possible for users of Injective Partners to enjoy the DeFi applications and synthetic assets of Fantom.
Despite exponential growth lately, the segment of synthetic assets has tremendous potential, which is still untapped. The primary reason behind this is the regulatory hurdles, although the framework offered by Injective Partners can easily overcome these issues to offer an optimum borderless solution for synthetic assets. Injective Partners has recently got the Synthetic Gold Market live on the Solstice Testnet. The company also launched the world’s first decentralized stocks future trading last month. Injective Partners realized that Band Protocol’s oracle is the best to bring decentralized price oracles for types of stocks regarding point of decentralization, cost, and developer experience. In sum, initiatives in the domain of synthetic assets are gaining momentum, and the phenomenon is expected to gain further traction in the coming months.