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#Cross-Chain Liquidity Pledging on Injective Goes Live with Stride

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On April 3rd, it was announced that the cross chain transaction protocol Injective has launched the INJ liquidity pledge function through the Cosmos ecological liquidity pledge pro

#Cross-Chain Liquidity Pledging on Injective Goes Live with Stride

On April 3rd, it was announced that the cross chain transaction protocol Injective has launched the INJ liquidity pledge function through the Cosmos ecological liquidity pledge protocol Stride. Users can receive pledge rewards through STINJ and also receive cross DeFi (lending, trading, etc.) profits, thereby increasing the overall utility of INJ.

Injective has launched the INJ liquidity pledge function through Stride

The cryptocurrency market is witnessing an exponential growth in the number of DeFi platforms that offer cross-chain solutions. Injective, a cross-chain transaction protocol, announced the launch of its INJ liquidity pledge function on April 3, 2021. This function operates through Cosmos ecological liquidity pledge protocol Stride, which allows users to receive pledge rewards through STINJ and gain cross-chain DeFi profits.
##What is Injective Protocol and Cosmos Network?
Injective Protocol is a decentralized, layer-2 DeFi protocol built on top of the Tendermint consensus engine. It is designed to enable fast, secure, and fully decentralized derivatives trading across different blockchain networks. The protocol operates with zero gas fees and promises lower transaction fees and fast settlement times. It also allows for infinite trading pairs, making it possible for traders to access markets previously unavailable to them.
Cosmos Network is a decentralized ecosystem of independent parallel blockchains, called Zones, that interact with each other via the Inter-Blockchain Communication (IBC) protocol. Cosmos has devised a unique consensus mechanism, Proof of Stake, to secure its blockchain. The network allows for seamless communication and transaction routing among the Zones.
##What is INJ Liquidity Pledge Function?
The INJ liquidity pledge functionality is designed to enable users to pledge INJ tokens as a liquidity provider to a Uniswap-like automated market maker (AMM) pool. This ensures that AMM pools always have a sufficient amount of liquidity. Users who pledge their tokens receive STINJ, an interest-earning token.
Another notable feature of INJ liquidity pledge is its cross-chain functionality. Users who pledge their tokens on the Injective Protocol can also earn profits from other DeFi activities, such as lending and trading, on other blockchain networks. The cross-chain compatibility of INJ liquidity pledge enables users to reach these profits without the need to move their tokens across different networks.
##How Does Stride Enable Cross-Chain Functionality for INJ Liquidity Pledge?
Stride facilitates the cross-chain functionality of INJ liquidity pledge through the Cosmos IBC protocol. As the largest liquidity provider on the Cosmos blockchain, Stride has developed an expertise in cross-chain liquidity provisioning. The Stride platform runs on the Cosmos inter-blockchain communication (IBC) protocol, which allows it to connect to multiple blockchains seamlessly.
The INJ liqudity pledge feature, by integrating with Stride, is now interoperable with other networks in the Cosmos ecosystem such as Binance Chain, Kava, and Terra. This integration enables users of these networks to access and take advantage of the INJ liquidity pledge feature as well.
##What Benefits Does the INJ Liquidity Pledge Offer?
By offering INJ liquidity pledge, Injective Protocol enables its users to earn rewards on their staked tokens without requiring them to move their tokens to multiple networks. This feature allows users to access cross-chain functionality seamlessly, while earning cross-network DeFi profits. The liquidity pool that the pledged tokens provide ensures there is enough liquidity to perform transactions on the Injective Protocol.
##Conclusion
Injective Protocol’s INJ liquidity pledge offering is significant because it enables investors to not only earn token rewards but also cross-chain DeFi profits, thereby increasing the overall utility of INJ. This feature leverages the seamless cross-chain functionality provided by Stride on the Cosmos ecosystem, marking an important milestone for DeFi protocols looking for solutions to liquidity provision across blockchain networks.
##FAQs
1. What is Cosmos IBC protocol?
Cosmos IBC protocol is an Inter-Blockchain Communication protocol that allows for seamless communication and transaction routing among zones on the Cosmos network.
2. How does INJ liquidity pledge function work?
The INJ liquidity pledge function enables users to pledge INJ tokens as a liquidity provider to a Uniswap-like automated market maker (AMM) pool. Pledged tokens earn STINJ, an interest-earning token.
3. What is Stride?
Stride is a Cosmos ecological liquidity pledge protocol that enables cross-chain functionality on the Injective Protocol.

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