Ocean Protocol dey collaborates with Injective Protocol to create innovative derivative data products
Users fit leverage data assets and create entirely new derivative markets with data tokens
We are dey excited to announce sey we dey work with Injective to create innovative data derivative products. Going forward, this go allow Injective users to create and trade in new derivative markets with data products wey dey developed in the Ocean Market .
Futures Contracts Defined as Data Tokens
The collaboration go start with the release of futures contracts wey dey defined as data tokens. Injective users go dey able to leverage data assets. In addition, users go fit create completely new derivatives markets wey dey use these data tokens.
With this collaboration, Injective users go fit create and access decentralized derivatives for data tokens, to start with Term Contracts wey dey Defined as Data Tokens. This na another step towards the introduction of data tokens as first class citizens of the Decentralized Economy (DeFi) and the introduction of a new category of assets in the field of Decentralized Economy (DeFi).
- Manan Patel, Growth Accelerator in Ocean Protocol
Ocean power supply integration go dey possible by Balancer, wey dey built on Ethereum. Given the Ethereum Virtual Engine (EVM) compatible Injective Chain execution environment for Decentralized Economy (DeFi) applications, we go dey able to obtain dynamic billing data to create futures contracts.
We at Injective dey excited to partner with Ocean, wey continue to be leading provider of digital data assets. This collaboration go undoubtedly help open up new ways for users to interact with data tokens as well as with Decentralized Economy (DeFi) as a whole. We dey look forward to democratize access to data assets globally with the Ocean team.
- Eric Chen, CEO of Injective
Once price feeds dey live, users fit engage in creating new indexes, track data markets, etc. The creation of markets dey completely open and without rights. This go allow anyone to create a data market with only Balancer price feeds and deploy am in the wider Injective ecosystem. This fit help introduce new markets wey dey previously unthinkable in a decentralized economy.
A Rapidly Growing Data Market
Ocean Protocol na blockchain-based ecosystem wey go allow individuals and businesses to easily unlock the value of their data and monetize am. Through Ocean Market , data publishers fit monetize their data while still dey maintain privacy and control, while data consumers fit access data sets wey no previously dey available or difficult to find. Publishing a data set in Ocean dey equivalent to an Initial Data Offer (IDO).
The data market now dey valued at over $ 140 billion. This number dey expected to increase in the future. Tokens data assets, of course, dey present an important opportunity for the introduction of new forms of capital allocation. The Injective Protocol dey seek to go a step further by to introduce futures contracts designated as data tokens, wey go help unlock unlimited possibilities for data market transactions.
Looking straight ahead
We dey look forward to further cultivate the Decentralized Economy (DeFi) ecosystem by introducing more innovative use of data as an asset. This go help both new forms of digital assets and the real flexibility of data markets.
About the Ocean Protocol
The mission of Ocean Protocol na to launch a Web3 Data Economy that wey go reach the world, to give power back to data owners and allow people to gain value from data to improve our world.
Data na new asset class - the Ocean Protocol go unlock its value. Data owners and consumers dey use the Ocean Market app to publish, discover and consume data assets in a secure way, while still dey maintain privacy.
Ocean data tokens dey convert data into data assets. This go enable data portfolios, data exchanges and data cooperatives, to utilize cryptocurrency wallets, bills of exchange and other tools for Decentralized Economy (DeFi). The projects go use Ocean and OCEAN libraries in their own applications to fit help promote the Data Economy.
The OCEAN token dey used to lock in data, govern the funding of the Ocean Protocol community, and to buy and sell data. Its supply dey distributed over time to promote short-term growth and long-term sustainability. OCEAN dey designed to increase with increasing volume of use.
Visit oceanprotocol.com to learn more.
About the Injective Protocol
The Injective Protocol na the first Level 2 decentralized transaction protocol wey go unlock the full potential of decentralized derivatives and Decentralized Economy (DeFi) without borders. The Injective Protocol go allow fully decentralized transaction without restrictions, to allow individuals to fit trade in any derivative market of their choice. The Injective Protocol dey backed by a leading stakeholder group, wey include Pantera Capital, one of the world's most well-known venture capital companies, and the leading cryptocurrency exchange, Binance.
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