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Injective Protocol decentralized derivatives trading platform raised $ 10 million in its most recent funding round.
Injective brings in $ 10 million
The Injective Protocol raised $ 10 million from some of Crypto’s best-known venture capital firms, bringing the overall valuation to over $ 1 billion. This round included contributions from Pantera Capital, BlockTower, Hashed, Cadenza Ventures, CMS and QCP Capital.
Shark Tank host and Dallas Mavericks owner Mark Cuban, known as the DeFi bull, also invested in the project.
By raising this money while foregoing little equity, Injective was able to prevent any dilution of ownership of the protocol and ensure that INJ owners control the future of the platform.
An alternative to redness
Injective Protocol is a decentralized trading platform on Layer 2 of Ethereum. It offers low fees, instant transactions, and access to stocks, crypto, forex, synthetic assets, and NFTs.
The project is applying as a decentralized and transparent alternative to Robinhood. Some investors are suspicious of Robinhood as Robinhood faced a capital shortage due to GameStop shorting incidents and started blocking deals.
Since Injective Trades cannot block in the same way, disgruntled Robinhood users can switch to their platform. Even so, Robinhood remains a far more mainstream app.
Disclaimer: The author owned ETH, BTC, and a number of other cryptocurrencies at the time of writing.
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