Injective, the first layer-2 decentralized exchange protocol, rolls out the first-ever decentralized stock trading. Through a partnership with Terra and Band Protocol, Injective now allows its customers all over the world to buy equities that trade in the US stock market, starting with the FANG index composed of Facebook, Amazon, Netflix, and Google. More stocks will be added in the near future.
The tokenized shares can be purchased in fractions using the Injective Solstice V2 network via USDT eliminating gas fees and making transactions instant. The integration with Band Protocol’s oracle technology enables it to provide secure decentralized price feeds for stocks, while Terra’s framework allows tokenizing traditional stocks.
Launching tokenized stocks became popular among crypto companies — for instance, this year Q4 Bittrex Global and FTX launched trading in tokenized stocks and bitcoin pairs for tops stocks respectively. The majority of digital currency exchanges will most likely continue this trend as using a blockchain to exchange data is one of the best ways to increase transaction speeds while reducing costs.
It’s exactly the goal of Injective Protocol. Incubated by Binance Labs in 2018, Injective Protocol backed by $3M in funding from Pantera, Binance, Hashed, and other notable investors. Its first layer-2 decentralized exchange protocol unlocks the full potential of borderless DeFi and allows fully decentralized trading in various forms including perpetual swaps, futures, margin, spots, etc. Each component of the protocol is built to be completely trustless, censorship resistant, publicly verifiable, and robust.
“Decentralized protocols let Injective make finance easy to access and to work with everybody all over the world,” said Eric Chen, CEO of Injective Protocol. “Unfortunately, billions of people still haven’t access to qualitative tools and platforms for equity investing as the existing ones often face technical challenges and can’t satisfy customers’ needs. Injective endeavor to fix these fundamental issues allowing everybody to trade stocks without any fees.”
