The DeFi ecosystem’s expectations continue to spiral upwards amidst the recent innovations, partnerships, and growth levels surrounding the Blockchain ecosystem, which recently has been tremendous. In a recent news release by Fantom Finance, the financial platform that provides its clients with trading synthetic assets services, they have partnered with the DeFi Protocol, Injective Protocol. Injective Protocol’s status as the inaugural Layer 2 protocol with the ability to fully utilize borderless Defi means that this collaboration’s sole aim will bolster the adoption of synthetic assets by both parties involved.
The partnership will bolster synthetics adoption
The announcement, which was made via popular social media, Twitter, with Fantom Finance verified handle, expressed the lending platform’s delight to work with Injective Protocol to solidify its synthetics. The public’s expectations now will be that new products can now b built since the native synthetic assets of Fantom will now be able to work on the Decentralized Exchange of Injective Protocol.
The partnership will majorly be enjoyed by both parties’ clients, who will now enjoy cross-chain synthetic assets trading and benefits to their delight. The partnership will also mean that both Injective Protocol and Fantom Finance’s progress trajectory will be measured alongside each other, as it is expected that the exposure, speed, and general marketability of both firms increase rapidly.
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The partnership’s proposed growth levels will lead both sides individually to the forefront of the booming DeFi space. The CEO of Fantom Finance, Micheal Kong, In his delight at the new partnership, believes that the partnership will grow the decentralized derivatives trading in innovative ways space had never witnessed. Micheal concluded his statement by assuring the public that they are set to see new synthetics adoption amidst a mass of innovative new products on the pipeline.
The partnership is a win-win for both
Another critical angle the partnership tends to tackle for Fantom Finance is its minting assets capacity. The minting magnate currently mints about 16 synthetic assets. This figure is set to increase as the partnership will now allow Fantom mint as much as 175 assets available for all of its trading services via the fTrade and fLend platforms. However, the typical benefit for Injective Protocol is that its sojourn into the space of synthetic market and asset trading will now be made easy, as it can now rely on the vast experience of Fantom Finance in Synthetic assets trading.
This assertion was confirmed by CEO of Injective Protocol, Eric Chen, who also expressed his delight at the partnership and confirmed that his companies ambitions of venturing into the synthetic assets market could only be made possible by a firm in the caliber of Fantom Finance. Like Kong, Chen expects that the partnership leads both organizations to the pinnacle of success in the DeFi space.