Photo by Tezos on Unsplash

Injective Protocol — Trading NFTs Just Landed


Photo by Tezos on Unsplash

 

     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 trade
  • Hub Injective
    Injective staking, governance, insurance funds, and wallets all have a uniform interface
  • API with injectables
    A custom-built institutional API for Injective

 

     HOW DO 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 leveling 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 constitute 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.
Please note that the tech industry evolves rapidly and this article's information is correct at the time of publishing. As Heraclitus said, “Change is the only constant”, so if anything sounds old or off please holler on the socials or comment here so everyone stays peeled.
Affiliate links may be included in these articles and signups through these links are highly appreciated. These links support better research and quality writing and help you find the right products with less hassle, so it’s a win-win :) Great care is taken to ensure the links are from authentic, non-spammy sources.

Stay updated on the latest stories by signing up for the newsletter. Please don’t mark these emails as spam, instead, you can easily unsubscribe.

How do you rate this article?


12

1

TheNiftyRevolution
TheNiftyRevolution

Entrepreneur/Photographer/Creator/Writer "There's no heart without art" Here to write, if it takes off, thanks a lot fam, if not thanks still!


theniftyrevolution
theniftyrevolution

Exploring creativity and the love of fancy things in life through Cryptoart or NFTs (Non Fungible Tokens). An important disclaimer before reading anything else. It’s kind of a must for crypto investment stories nowadays. Articles I publish are not financial advice, as I am not “paper qualified” to give away such advice. This is simply the humble adventures of a crypto and NFT enthusiast.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.