Injective is Integrating with Stacks to Enable Fully Decentralized Bitcoin Derivatives

Our goal is to create a vibrant multi-chain ecosystem that is entirely decentralized. On Injective, users have the ability to create and trade unlimited derivatives that originate from distinct blockchain networks. With our Stacks collaboration, Injective will be able to launch derivatives that are based on the Stacks token (STX) alongside native assets built on the Stacks blockchain.

What is the Stacks blockchain?
Stacks is a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications (DApps) to Bitcoin. These smart contracts are brought to Bitcoin without changing Bitcoin itself, but leverages its security and stability.

Bitcoin Derivatives on Injective
“Stacks is perhaps one of the first movers in the crypto space, having started back in 2013. We are thrilled to be joining such a gifted and forward-thinking community to bring Bitcoin derivatives to our protocol as we continue to accelerate the adoption of the Injective multi-chain ecosystem,” said Injective CEO, Eric Chen.

“What was previously just a murmur is turning into a roar. Bitcoin DeFi is here to stay. Stacks and Injective are paving the way for Bitcoin-based derivatives and making it clear that DeFi’s future goes way beyond the blockchains and platforms where it started its journey. Together, the two protocols provide new opportunities for regular users to access Bitcoin derivatives in a fully decentralized manner and broadens the ways DeFi can be accessed and experienced. ,” said Head of Growth at the Stacks Foundation, Mitchell Cuevas.

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https://blog.injectiveprotocol.com/injective-is-integrating-with-stacks-to-enable-fully-decentralized-bitcoin-derivatives/