Injective Partners with Matic to Expand Layer-2 Derivatives Trading Globally
Recently, Matic Network entered into a partnership with Injectives Lab to improve the way layer-2 derivatives are traded globally. The partnership will involve four major verticals, which will ensure that the decentralized financing world is adopted more quickly around the world.
It's not news that the Matic Network is a layer-2 scaling solution that is supported by large blockchain inclined companies like Binance and Coinbase. Matic Network has the purpose of offering a generalized layer-2 platform, thereby allowing Ethereum developers to easily scale their decentralized apps which can be used for numerous purposes. Matic network is a member of the Binance harem, as it just carried out an IEO on Binance a year ago.
Injective Lab intends to work with its counterpart in a bid to promote more research into the layer-2 mechanism. Though, the public has anticipated for the layer-2 infrastructure and has accessed a bit of it for a while, there is much that has not been uncovered or accessed at the moment.
Currently, both Matic Network and Injective Labs are at the forefront in the development of the layer-2 infrastructure, as they have spent a massive part of their time, researching into it. Their partnership will lead to a synergy when layer-2 research is concerned.
When two giants work together in a field, it shouldn't be surprising that a lot of things will be achieved.
Apart from the aforementioned, this partnership portends good news for both parties in the aspect of them listing each other assets on the different platforms.
Injective Labs intend to list Matic assets on its platform as time does on, thereby expanding the derivatives markets that are accessible on their decentralized exchange. This permits Matic users to have access to a new space that they can interact with the Matic tokens.
“I’ve been a passionate supporter of Injective for quite some time. We are excited to see new Matic derivatives on Injective’s platform. As two pioneers in the layer-2 blockchain sector, I am certain that our teams can bring forward the burgeoning field of DeFi,” said Sandeep Nailwal, Matic COO.
The last aspect of this integration, which can be seen as one of the most important aspect is the leveraging of the layer-2 bridge that Matic is building on Ethereum. What this means is that the assets that are created on Matic can be moved easily to Injective since the latter has an EVM-compatible infrastructure. It will allow Injective to easily access the new derivative products that use assets built on top of Matic.
“We have been close with the Matic team for quite some time. In fact, some of our developers worked with the Matic team a few months ago to research innovative layer-2 solutions. I’m excited to deepen this relationship further with new forms of collaboration.” said Eric Chen, Injective CEO.