25 May, 2022, 09:00 ET
NEW YORK, May 25, 2022 /PRNewswire/ -- Injective, a blockchain built to support decentralized finance applications (dApps), announced the integration of Wormhole, the generic cross-chain messaging protocol. With the addition of Wormhole, Injective will be able to add more than 10 additional Layer 1 and Layer 2 blockchains such as Algorand, Avalanche, BNB Chain, Fantom, Oasis, Polygon and Solana to its interoperable network.
Injective is the first fully decentralized network optimized for building dApps focused on exchanges, derivatives, prediction markets, and options. Injective is natively able to connect to Ethereum, Cosmos, and a number of other IBC-enabled chains. Its integration with Wormhole will enable Injective native dApps, such as Injective Pro and Frontrunner, to welcome new users and liquidity from previously inaccessible ecosystems.
This integration makes Injective the primary gateway for cross-chain native assets from Solana and other prominent Layer 1 chains to enter the Cosmos universe. Wormhole's powerful generic messaging layer will enable developers building on Injective to leverage cross-chain capabilities in their dApps.
"As the world moves to become cross-chain, we sought to partner with Wormhole to create limitless opportunities to expand access to Injective," said Eric Chen, CEO of Injective Labs, core contributor to Injective. "With Wormhole being a major force within the crypto industry, the partnership will be focused on expanding Injective's network and supporting new dApps built on top of the blockchain moving forward."
"Wormhole seeks to enhance accessibility in crypto by allowing information to transfer seamlessly across chains," said Hendrik Hofstadt, Wormhole contributor. "We are thrilled to connect with Injective, as they are rapidly becoming a dominant force in the DeFi industry."
Injective brings Ethereum compatibility to the Cosmos IBC universe, allowing for financial applications built on Injective to experience rapid success. Injective Pro, the premier DEX built on Injective, has processed over $1 billion in trades within the first month of its launch.
To learn more about Injective Labs., follow @InjectiveLabs on Twitter, subscribe to the Injective Blog, or visit Injective.com.
To learn more about Wormhole, follow @wormholecrypto on Twitter, subscribe to the Wormhole Blog, or visit wormholenetwork.com.
Injective is the first Layer 1 proof-of-stake blockchain optimized for building financial applications. Injective is compatible with other Layer 1 chains, which allows it to congregate liquidity, creating more capital-efficient markets. The Injective ecosystem features a flexible and expressive programming environment which allows developers to take advantage of powerful DeFi primitives, namely on-chain order books and order matching. Injective Labs is one of the core contributors to Injective.
The Wormhole Network is a generic message-passing protocol that connects high-value blockchains and allows applications leveraging the messaging layer to facilitate interoperability between ecosystems. Secured by 19 guardians, developers are able to leverage the protocol to send arbitrary data cross-chain including tokens, NFTs, oracle data, governance decisions and more.
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