Mountain Protocol

Injective

when

Helix

Read

<p class="is-style-lead">Injective, the blockchain for finance incubated by Binance and backed by prominent investors including Pantera, Jump Crypto, and Mark Cuban, has announced a key integration with Mountain Protocol.</p> 
<p>Specifically, Injective (<a href="https://crypto.news/price/injective/">INJ</a>) has added support for Mountain Protocol’s yield-bearing stablecoin USDM and will allow its users to leverage it as collateral for derivatives trading.</p> 
<h2 class="wp-block-heading" id="why-does-it-matter">Why does it matter?</h2> 
<p>The firms said in a <a href="https://www.prnewswire.com/news-releases/injective-integrates-mountain-protocol-becoming-the-first-chain-to-offer-usdm-as-collateral-for-derivatives-302204734.html" target="_blank" rel="">press release</a> that the integration would see Injective users earn a yield on the stablecoin’s Treasury Bill-backed assets.</p> 
<p>Users will also use the USDM as a margin when trading derivatives, marking the first time users can tap into the regulated, compliant stablecoin as a margin in perpetual trading.</p> 
<p>Injective-based decentralized exchange Helix will be the first dApp to offer USDM as collateral for trading derivatives.</p> 
<p> You might also like: <a href="https://crypto.news/injective-eyes-expansion-into-web3-gaming-with-major-partnership/"> Injective eyes expansion into Web3 gaming with major partnership </a> </p> 
<h2 class="wp-block-heading" id="eyeing-the-rwa-market">Eyeing the RWA market</h2> 
<p>Injective Labs says USDM support benefits the blockchain network’s real-world assets ecosystem.</p> 
<p>According to Eric Chen, co-founder and CEO of Injective Labs, collaborating with Mountain Protocol brings users the benefits of both platforms, bridging traditional and decentralized finance.</p> 
<p>USDM expands the opportunities available to crypto users amid the growth in the RWAs market. The Injective Labs executive also noted that the security and sustainability that US Treasury bills support give to the RWAs space are crucial for Injective.</p> 
<p>The collaboration with Mountain Protocol follows Injective’s announcement that it had integrated with <a href="https://crypto.news/pantera-capital-backed-ondo-finance-hits-all-time-high/">Ondo Finance</a> to bring the tokenized treasury token USDY to its ecosystem. USDY is also set to help Injective’s RWA use case.</p> 
<h2 class="wp-block-heading" id="ownership-of-yields-back-to-individuals">Ownership of yields back to individuals</h2> 
<p>USDM is a significant addition to Injective’s RWA market and benefits INJ users.</p> 
<p>Notably, the partnership allows Injective to offer access to traditional assets without using traditional third-party providers. Doing so saves users from the high fees or regulatory and economic challenges of legacy providers like banks.</p> 
<p>Chen noted that integration with Mountain Protocol and USDM support ensures users get “full ownership of yields”.</p> 
<p> Read more: <a href="https://crypto.news/injective-price-has-more-upside-as-developer-commits-rise-analyst/"> Injective price has more upside as developer commits rise: analyst </a> </p>

Pantera-backed Injective adds USMD support with Mountain Protocol integration

Table of Contents

crypto.news

Other articles published on Jul 24, 2024

BlackRock's Bitcoin ETF Inflows Surpass Major Tech Stocks in 2024

How MoonBag’s $3.5 Million Liquidity Strategy Aims for Stability Amid Render’s Fluctuations

Shiba Inu and Dogecoin Investors Find Another Gem in RCO Finance, 3,000% Returns on the Table

Solana Flips Ethereum: Surpasses ETH in 30-Day DEX Trading Volume

Russia Approves Cryptocurrency Use in International Trade

US Senator plans to announce legislation for Strategic Bitcoin Reserve at Bitcoin 2024

Join our free newsletter for daily crypto updates!