We are thrilled to announce that Injective is partnering with Klaytn to bring decentralized trading to millions of users within the Klaytn eco-system.
By integrating Injective’s decentralized derivatives protocol, Klaytn users will be able to access a diverse array of new financial markets not found elsewhere. In addition, users on Injective will be able to create new markets using assets built on the Klaytn blockchain.
Klaytn is a public blockchain developed by Ground X, the blockchain arm of the leading South Korean internet provider and messaging firm, Kakao (a superapp used by over 90% of Korea’s population). Klaytn aims to offer a user-friendly interface and an intuitive development environment to push the frontiers of blockchain-powered services.
Klaytn is secured by participation from multiple top-tier brands around the globe. With its applications and web services having seen exponential growth in the Korean market, Klaytn is now setting its sights on global expansion, capturing a vast number of established global enterprise partners to its ecosystem, strategically spanning both blockchain-oriented and traditional finance organizations such as LG Electronics, Worldpay and Binance.
Injective’s Partnership with Klaytn
Injective shares Klaytn’s mission to transcend the current limitations in the blockchain space in order to accelerate global adoption of DeFi.
In pursuit of this goal, Injective plans to carry out an integration with Klaytn’s blockchain which greatly benefits the entire crypto ecosystem. For one, Injective’s derivative markets will soon be available through Klaytn’s native wallet. As a result, millions of Klaytn wallet users will be able to place trades that are executed on Injective in the backend. Not only does this bring new derivative markets to users within the Klaytn eco-system, but it also helps bring new volume to Injective’s exchange.
“Klaytn has showcased tremendous growth over the past few years. With this collaboration, Injective can help launch a number of innovative derivative products that were previously not available on the Klaytn blockchain. In turn, this will provide users with limitless trading opportunities,” said Eric Chen, Injective CEO.
A second benefit of this collaboration is that users on Injective will be able to create new markets using Klaytn-based assets. Klaytn has rapidly risen in popularity and is now processing millions of transactions on a monthly basis. Integrating Klaytn with the Injective will be a great boon for our ecosystem as a whole as individuals can seamlessly move assets across the two respective chains.
Jason Han, CEO of Ground X also said of the collaboration, “Not only will the the [Injective – Klaytn] partnership facilitate the growth of Klaytn’s DeFi eco-system, but it will also serve as a catalyst for the creation of many more innovative, inter-operable, decentralized services thanks to Klaytn’s integration with Injective.”
Injective’s Foray into Korea and Beyond
Similar to Klaytn, we prioritize creating a vibrant ecosystem through which everyone can have equal access to decentralized finance. Our integration will not only unlock decentralized derivative markets for millions of Klaytn users but also provide new avenues for users to create unique markets of their choice.
Klaytn is an enterprise-grade, service-centric platform created by Kakao’s blockchain arm, Ground X. Kakao is Korea’s largest social media service with hundreds of millions of registered users. It combines the best features of both public blockchains (distributed governance) and private blockchains (low latency/high scalability) via an efficient ‘hybrid’ design. Klaytn is secured by participation from numerous highly-reputable brands around the globe.
About Injective Protocol
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing. Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Bengaluru Bytes journalist was involved in the writing and production of this article.