Decentralized finance (DeFi) protocol Injective (INJ) has partnered with Wormhole to combine “10 new blockchains” to its community.
Injective is a Cosmos (ATOM) layer-2 decentralized alternate (DEX) that provides derivatives, token swaps and sports activities betting prediction markets. It can also be targeted on interoperability through cross-chain bridging, and presently helps digital belongings from Ethereum (ETH), Polkadot (DOT) and IBC-enabled chains reminiscent of Cosmos.
Injective Labs, the protocol’s builders, famous in a Wednesday announcement that the partnership will allow customers to switch and commerce belongings throughout any chain that’s built-in with Wormhole.
“The Wormhole integration will vastly enhance Injective’s capabilities with respect to interoperability. Users will soon find Wormhole integrated into the backend of the Injective Bridge whereby transferring assets from distinct EVM chains or Solana (SOL) can be done with the click of a button,” Injective Labs said.
Injective broadcasts new integration with @WormholeCrypto ‼️
Wormhole brings ten new chains, reminiscent of @Avalancheavax and @Solana, to Injective’s already interoperable chain, making Injective the major gateway to enter the @cosmos universe ⚛️ https://t.co/Zu8belwh7d
— Injective | Cosmos IBC | Ethereum suitable (@InjectiveLabs) May 25, 2022
Wormhole is a generic messaging protocol that interacts with totally different blockchains, offering providers reminiscent of cross-chain software help and token bridges.
Not all of the “10 new blockchains” are named particularly. Wormhole’s web site additionally solely lists 9 chain integrations which embrace Solana, Terra (LUNA), Ethereum (ETH), Avalanche (AVAX), Oasis Binance Smart Chain, Polygon (MATIC), Fantom (FTM) and Aurora (AOA).
With Terra falling right into a heap and Ethereum already being supported, it’s unclear what the different remaining chains out of the whole of 10 are.
However, the mission has highlighted the skill of Injective to (*10*) to enter the ecosystem.
“The options for users can extend far beyond asset transfers as well. For instance, DApps on Injective could enable seamless cross-chain trading across the Cosmos and Solana ecosystems while also being able to offer yields on Solana (or any other Wormhole supported asset).”
“Builders utilizing chains such as Avalanche, Algorand or Polygon can access assets within the broader Cosmos ecosystem via Injective,” it added.
Cosmos builders can even find a way to incorporate Wormhole’s generic messaging layer and add cross-chain functionalities inside their dApps.
— Wormhole (@wormholecrypto) May 25, 2022
Related: Assuming Bitcoin performs good, larger timeframe evaluation factors to $90 Solana (SOL) value
The announcement has executed little to sway the worth of Injective’s native token INJ to date, with the value dropping 2.6% in the previous 24 hours to sit at $2.21, at the time of writing. The token can also be down 91.1% since its all-time excessive of $24.89 in late April 2021, in accordance to knowledge from CoinGecko.
