As is apparent from its recently disclosed summarized performance report, which illuminates factors that have contributed to the expansion of its native ecosystem, Injective was on an expansion rampage. For instance, Helix introduced trading bits and futures while it joined hands with Google Cloud to host the Illuminated Hackathon.
Furthermore, these sentiments extend to various other sectors, such as DeFi and NFT Fi, among others. Injective ecosystem expansion has been primarily concentrated on decentralized applications and blockchain statistics.
The partnership between Injective and Google Cloud saw the former venture host Illuminate Hackathon. It was hosted in collaboration with DoraHacks, inviting developers to craft their projects on the network and claim a fair share of the prize pool worth $100,000. There is no restriction on the segments that can be explored—SocialFi, DeFi, NFT, tooling, and gaming, among others.
One aspect that every participant gains, no matter their position on the tally board for the prize, is assistance from Google Cloud and Injective. This includes mentorship, technical guidance, and rewards to help them make a move to the next stage of their operations.
Many other platforms are deciding to organize Hackathons or similar events. The objective is often to reward participants for exploring functionalities and identifying vulnerabilities before projects go live. Illuminate Hackathon is a Web3 hackathon event that is on the list with ETHIndia, NEARCON IRL Hackathon, and Interledger Summit 2023.
Helix launched Trading Bots and Pre-Launch Futures, then gained a substantial portion of October developments. This pertains to making it convenient for users to capitalize on minor fluctuations by automating spot market trades.
Pre-Launch Futures is an expansion of its portfolio, beginning with the inaugural listing of TIA, the native token of the Celestia ecosystem. Another token that has been listed after TIA is Axelar’s AXL. Injective is celebrating this development by giving away 30,000 TIA tokens to traders across the globe.
Levana Protocol making its debut on Injective mainnet. The perpetual swap exchange on the mainnet has entered the ecosystem by offering real yield chances to LPs, that is, liquidity providers, along with risk-adjusted trading capabilities and high-leverage options. It offers a maximum of 30x leverage. Levana is hosting this development by organizing a trading competition. It enables users to explore its modules.
Levana was last seen clocking a trading volume of more than $18 million in Injective mainnet. Moving forward, there are plans in the pipeline for new markets that could make their way into the ecosystem.
October developments for Injective in DeFi are:-
- Mito going live for the users of Injective for early access.
- Exotic Markets launching options infrastructure protocol.
- Neptune Finance making its debut on testnet for early use cases.
October developments for Injective in NFT Fi are:-
- Talis Protocol achieved the milestone of $1 million in trades.
- TFM going live with detailed analytics.
- Quants are tentatively scheduled for launch on November 11, 2023.
Other general developments are opening up registration for .inj Domain Name, Ninja Blaze announcing its testnet launch, and Ninji coming up with an extended version.