Injective Protocol Raises $10M From Mark Cuban, Pantera, BlockTower & More

pInjunctive Protocol a decentralized derivatives exchange announced the completion of a M quotpartyquotnbspa hrefhttpswwwtheblockcryptocomlinkedinjectiveprotocolraisesmillionmarkcubanothers targetblankfunding roundanbsplast week in the form of a private placement token sale at a billion future valuation Several wellknown venture capital firms includingnbspa hrefhttpspanteracapitalcom targetblankPantera Capitalanbspa hrefhttpswwwblocktowercom targetblankBlockTowera Hashed Ventures CMS Holdings and QCP Capital participated in addition to billionaire entrepreneurnbspa hrefhttpsenwikipediaorgwikiMarkCuban targetblankMark CubanappCombining the advantages of centralized and decentralized exchangesnbspa hrefhttpsinjectiveprotocolcom targetblankInjective Protocolsanbspquotgoal is to enable an unparalleled decentralized trading experience whereby retail traders globally can for the first time access limitless markets without the typical predatory fees and slow transaction timesquot saysnbspa hrefhttpstwittercomericinjectivelangen targetblankEric Chena CEO Launched in December of last year Injective is the first universal layer DEX enabling crosschain crypto and synthetic asset trading across spot perpetual swaps and futuresppa hrefhttpsinjectiveprotocolcomecosystem targetblankThe protocolanbspuses both thenbspa hrefhttpsethereumorgen targetblankEthereumanbspandnbspa hrefhttpsvcosmosnetworksdk targetblankCosmos SDKanbspecosystems throughnbspa hrefhttpsblogcosmosnetworktheinternetofblockchainshowcosmosdoesinteroperabilitystartingwiththeethereumpegzoneddbcf targetblankpeg zonesanbspin order to create a fast secure and fully decentralized trading infrastructure that allows anyone to create and trade without the expensive gas feesnbspa hrefhttpswwwcoingeckocomencoinsinjectiveprotocol targetblankINJanbspis the protocols native token and supports protocol governance fee value capture exchange collateral participation incentives and PoS securityppDue to the size of the investment Injective issued the native tokens to investors through the protocols treasury Injective sold the tokens with a lockup period of year at a billiondollar valuation At the time of writing INJ is trading at with a market cap of M With the proceeds Injective looks to upgrade its trading platform and double itsnbspcurrent team of by next year They will also initiate an internal trading desk to help with the exchanges liquidity hiring a head trader from Tower Researchp