Injective, the interoperable smart contracts platform optimized for DeFi apps, announced today it now officially supports Polkadot native assets. The integration enables Injective to be a primary gateway for cross-chain Polkadot assets to enter the Cosmos universe.
Support will be made possible via Moonbeam, an EVM-compatible smart contracts platform for Polkadot. Moreover, Axelar will act as an interoperability network that facilities the bridging process.
Polkadot + Injective
Polkadot is a sharded multi-chain protocol that connects a network of specialized blockchains.
Sharded chains are referred to as “parachains” because they run on the Polkadot network in parallel. Polkadot is powered by a shared security model which means that all parachains built on Polkadot are secured by a shared group of validators.
Each parachain on Polkadot has its own special focus. For example, Moonbeam is currently the most popular Polkadot parachain that provides an EVM development environment for users to deeply EVM compatible dApps on Polkadot.
Injective is an interoperable blockchain for building DeFi applications. Injective provides out-of-the-box orderbook and derivatives primitives needed to create mainstream DeFi apps.
Smart contract-enabled apps on Injective are natively compatible with Ethereum and Cosmos IBC while also being able to achieve instant transaction finality. INJ is the native deflationary scarce asset that powers Injective and its ecosystem.
Users of Injective can begin transferring assets from Polkadot using the Injective Bridge.
“The integration of Polkadot assets positions Injective into becoming the primary gateway for Polkadot assets to enter the interchain Cosmos universe. A diverse array of dApps on Injective can now provide new functionalities unlocked by Polkadot native assets. For example, exchange dApps built on Injective can begin to offer spot market trading for Polkadot assets such as DOT. New dApps building on Injective can enjoy the benefits of a truly interoperable network now that Injective supports major chains such as Cosmos, Ethereum, and Polkadot. Upcoming integrations with EVM compatible chains and Solana will continue to expand the possibilities for users on Injective.”
– The Injective Team
Source Link: https://www.cryptoninjas.net/2022/06/03/decentralized-defi-platform-injective-adds-support-for-polkadot-assets/