Injective Protocol, a decentralized derivatives exchange protocol, raised $2.6m in seed funding.
The round was led by Pantera Capital with participation from QCP Soteria, Axia8 Ventures, K42, Boxone Ventures, Bitlink Capital, BitScale, Krypital Group, The Cabin Capital, and Innovating Capital.
Beyond providing working capital, the new strategic investors will also provide liquidity solutions for the decentralized exchange as well as support the project’s business development and market brand recognition internationally.
Founded in 2018, Injective Protocol is a fully decentralized, front-running resistant layer-2 decentralized exchange protocol. It is based on the Cosmos-SDK and Ethereum network that integrates a verifiable delay function (VDF) to prevent trade manipulation and front-running.
It was selected as one of the eight projects to join the Binance Labs Incubation Program in 2018.