Injective Protocol — Trading NFTs Just Landed
WHAT IS INJECTIVE PROTOCOL?
Injective is a layer one protocol that may be used to develop strong exchange, DeFi, derivatives, and Web3 applications
The Cosmos SDK was used to construct Injective, which can achieve instant transaction finality while maintaining lightning-fast speeds
The Injective Protocol and its fast-expanding ecosystem are powered by $INJ, a native deflationary scarce asset
Binance has incubated Injective, which is supported by Pantera Capital
THE FEATURES OF INJECTIVE
Injectable Benefits
With the $120 million Injective Astro program, you can earn prizes with every tradeHub Injective
Injective staking, governance, insurance funds, and wallets all have a uniform interfaceAPI with injectables
A custom-built institutional API for Injective
HOW DOES TRADING THE BAYC ASSET PAIR WORKS?
With the BAYC/WETH listing, Injective Pro, the derivatives exchange platform built on Injective has become the first-ever exchange to publish an NFT floor price perpetual market
With 10,000 unique NFTs, the Bored Ape Yacht Club (BAYC) collection launched in 2021
And with celebrity endorsements from the likes of Justin Bieber, Madonna, and Tom Brady, the NFTs have subsequently rocketed to public recognition
BAYC values have climbed dramatically since its debut, with a current floor price of over 120 ETH (about $370,000) (as of April 2022)
Although BAYC is one of the most popular NFT projects on the market today, users who want to buy an asset may be unable to do so due to its high price
The goal of floor price perpetual is to minimize the entrance barrier to such projects by allowing retail users to trade based on the floor price of NFT collections without having to hold custody of the NFT
People can go long or short on NFT collections for as little as $1 on Injective Pro, allowing more users to acquire exposure to high-value assets or hedge against NFT market volatility
Injective Labs, the startup behind Injective Pro, collaborated with NFT portfolio management firm NFTBank to establish a bespoke price feed for the BAYC collection, which verifies the market’s initial price
The price feed is hosted by Burnt Finance, a completely decentralized NFT system
The Bored Ape Yacht Club floor price perpetual aim to give everyday traders access to this market, thereby levelling the playing field for the majority of people who want to join the Bored Ape community
The BAYC floor perpetual will be listed on Injective Pro straight away, and you may begin trading right now
DISCLOSURE:
None of these articles constitutes financial advice. Articles are highly summarised to make it easy for the reader and save your time, so please DYOR further before putting your hard-earned money into any product mentioned.
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