Evgen_by | Injective

Posted on Aug 25, 2023Read on Mirror.xyz

Side Protocol Integrates Injective to Unlock Mesh Liquidity Networks

Side Protocol has integrated with Injective, bringing new DeFi primitives and atomic asset exchange into the ecosystem. The integration is currently live on the Side Protocol testnet, enabling seamless atomic asset swaps across a number of chains.

Side Protocol is a distributed inter-blockchain liquidity mesh network that allows for peer-to-peer trading of assets across different blockchains without the need for bridging. This decentralizes liquidity across diverse blockchain networks, making it easier for users to access the assets they need.

The integration with Injective will allow users to trade assets from different blockchains on the Injective platform. This will provide users with more liquidity and trading options, and it will also help to reduce the friction associated with cross-chain trading.

The Side Protocol integration is a significant development for the DeFi space. It is one of the first projects to successfully implement a decentralized cross-chain liquidity network. This integration has the potential to revolutionize the way assets are traded in DeFi, and it could help to make the DeFi space more accessible and efficient.

Here are some of the benefits of the Side Protocol integration for the Injective ecosystem:

  • Increased liquidity: By connecting to Side's liquidity network, Injective will be able to offer users access to a wider range of assets. This will make it easier for users to find the assets they need to trade.

  • Reduced friction: The Side Protocol integration will eliminate the need for bridging, which can be a time-consuming and expensive process. This will make it easier and cheaper for users to trade assets across different blockchains.

  • Improved security: The Side Protocol is a decentralized network, which means that it is not subject to the same risks as centralized bridges. This makes it a more secure way to trade assets across different blockchains.

Overall, the Side Protocol integration is a major development for the Injective ecosystem. It will make it easier, cheaper, and more secure for users to trade assets across different blockchains. This could help to make the DeFi space more accessible and efficient for everyone.

Here are some of the ways that Injective makes money:

  • Exchange fees: Injective charges a trading fee on all trades that take place on its platform. This fee is paid in INJ tokens.

  • Staking rewards: Injective users can stake their INJ tokens to earn rewards. The amount of rewards that users earn depends on the amount of INJ tokens they stake and the length of time they stake them for.

  • Liquidity mining: Injective offers liquidity mining programs to incentivize users to provide liquidity to its platform. Liquidity providers earn rewards in the form of INJ tokens.

The Side Protocol integration is expected to generate additional revenue for Injective through increased trading fees and liquidity mining rewards. It is also possible that the integration could lead to new partnerships and opportunities for Injective, which could further boost its revenue.