Injective Raises $40M from Jump Crypto and BH Digital to Accelerate Growth
Summary
NEW YORK, Aug. 10, 2022 /PRNewswire/ -- Injective, a blockchain built for finance, today announced a new $40 million funding round led by Jump Crypto.BH Digital, the crypto arm of famed hedge fund manager Alan Howard, has also joined the round.Injective is the first fully decentralized smart contracts platform optimized for building decentralized finance applications such as exchanges, derivatives, prediction markets, and options. Jump has previously engaged in similar comprehensive deals with popular blockchains such as Solana and Oasis.Injective is built with Cosmos SDK and utilizes an Ignite (formerly Tendermint) proof-of-stake consensus mechanism. dApps built on Injective generated over $7 billion in cumulative volume, becoming one of the fastest growing ecosystems in the industry today. "Businesses and financial institutions have already begun to participate in DeFi in a big way and the natural next step will be building personalized decentralized applications. Injective uniquely provides traditional finance infrastructures, such as an order book module, on-chain and is highly interoperable with prominent layer 1s, including Ethereum, Evmos, Axelar, and Moonbeam.Injective is built with the Cosmos SDK and utilizes a Tendermint proof-of-stake consensus for secure transactions with instant finality.
Funding
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