Injective Protocol is the first layer-2 DEX that unlocks the full potential of decentralized derivatives and borderless DeFi.

This AMA allowed users to connect with Eric Chen, cofounder and CEO, who answered the questions and listened to the feedback.

I’m Eric Chen. I’m cofounder and CEO of Injective Protocol. Prior to Injective, I was a researcher at Innovating Capital working on trading strategies and protocol research. Before that I was also part of the NYU Blockchain Labs

Question from the CryptoRank team

#1. Can you tell us about Injective Protocol ? What problems do you solve, both in the space and for the community?

Eric: – Injective Protocol is an end-to-end decentralized protocol allowing decentralized perpetual swaps, futures, and spot trading. It is the first layer-2 fully decentralized protocol that enables fast, secure, and most importantly, fully decentralized trading on top of Ethereum. We built every component of our protocol to be fully trustless, censorship-resistant, publicly verifiable, and front-running resistant. We’re incubated by Binance labs and recently raised a round led by Pantera Capital and Binance Launchpad

#2. Could you shortly describe the milestones Injective Protocol has achieved, and about your upcoming plans?

Eric: – Recently we’ve released our Solstice Testnet!! This is our first major milestone since our IEO. You can check out how to participate here:

https://medium.com/injective-labs/solstice-testnet-early-access-launch-7aaafc8cc392

Questions from Twitter

#1. What are your goals to provide a more fluid, scalable, and secure change for users? Where will the most important steps be taken in the roadmap of the injective protocol?

Eric: – We want to ensure that we can support a high volume of users with the best possible onboarding and trading experience. The most important step will be testing all possible scenarios during Solstice and the following phases. We will be announcing the last phase after the trading competition very soon! Stay tuned

#2. The Injective Chain is the core backbone for Injective’s layer-2 derivatives platform, what features of it colelct the essence of the project and make it different to any other DeFi derivatives platform?

Eric: – Injective is the first layer-2 decentralized exchange protocol that unlocks the full potential of borderless DeFi. It allows any individual to create and trade arbitrary DeFi instruments with just a price feed. Users are empowered to create their own markets within Injective Protocol. Our DEX is based on the Cosmos-SDK and Ethereum network that integrates a verifiable delay function (VDF) to prevent transaction fraud and front-running. We use a Tendermint-based Proof-of-Stake (PoS) to facilitate cross chain DeFi trading across Cosmos, Ethereum, and many other layer-1 protocols.

In addition, we are the first DEX to introduce on-chain referral via which any user can earn 40% of exchange trading fees as a reward for referring their friends.

#3. Can you talk about your long-term plans for Injective in partnership with Elrond?
Injective Protocol has just integrated with Polkadot. What are the highlights and the main advantages of that integration?

Eric: – We’re really excited to be connecting with Elrond to enable EGLD as one of our many collateral offerings! Our integration with Polkadot will also allow us to connect with all of the parachains with the biggest diversity of communities!

CryptoRank community questions

#1. Where do you want to be in 5 years from now on (vision, marketshare, investment products)? How will you make your protocol accessible to all people in order to penetrate markets where crypto is still not adopted very much (entry barriers such as capital, fiat gateways, knowledge, etc.)?

Eric: – I hope that five years from now, Injective will be a global CME! We’re actively working on expanding global communities and ensure that everyone from all over the world will be able to learn about Injective!

#2. Most of trading pairs in Injective DEX is in USDT. Then what is the importance of INJ? Uniswap is the biggest DEX now. Are you planning to be a DEX as that with so many coins?

Eric: – Needless to say, INJ token is the backbone of everything you see on the exchange!
We plan to have more volume than Uniswap

You can read more about INJ here: https://medium.com/injective-labs/introducing-the-injective-token-pioneering-a-new-decentralized-economy-ca7db063a90f

#3. In which chains does Injective Protocol currently run? Will there be a bridge for most of the most used blockchains? Do you plan to develop new bridges?

Eric: – We’re releasing a video tutorial very soon! Here are the details:

https://medium.com/injective-labs/solstice-testnet-early-access-launch-7aaafc8cc392