DeFi & NFT
By Dan Saada
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Injective is integrating with stacks to enable fully decentralized Bitcoin derivatives to come up with a vibrant multi-chain ecosystem which is completely decentralized.
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With Stacks collaboration, Injective is set to launch derivatives which are based on the Stacks Token (STX) alongside native assets, built on the Stacks blockchain.
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They are set to deploy a bridge which will be able to interact with the Stacks blockchain. Users are going to be able to lock-up and transfer stacks-based tokens to the Injective…
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DeFi enthusiasts will thus be able to take part in creating expiry futures and perpetuals across distinct networks like BUSD/STX.
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Stacks operates via Proof of Transfer (PoX) which serves as the consensus mechanism between Stacks and the Bitcoin.
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Stacks transactions settle to Bitcoin, which eventually enables Stacks transactions to benefit from Bitcoin’s security while Stacks scales independently of Bitcoin.
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Also Stacks holders consist of a broad range of people and organizations, which including leading venture funds such as Y-Combinator, Union Square Ventures, and SV Angel.
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Crypto Market Summary from the Injective Labs: Bitcoin is trading around $36,000, up almost 9% over the past 24 hours while constantly testing the 7-day moving average.
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Open interest for Bitcoin futures has stabilized to around $680 Million while the BTC perpetual funding rate is slightly positive over the past week.
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ETH is trading around $2,570, up 2.5% over the last 24 hours. ETH has had relatively strong support above the 100-day moving average over the past two weeks.
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Total value locked in DeFi is around $60 Billion, up over 25% since the lows at the end of May. Most major alts have slightly recovered from the crash this weekend.
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DeFi enthusiasts can also take part in creating decentralized expiry futures and perpetuals across distinct networks such as BUSD/STX, which would tap into both Binance Chain…
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Injective are excited to continue building a robust exchange protocol through which traders can access multi-chain markets, allowing Injective Labs to bring forth a new paragon…
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