The Injective Protocol is getting ready to launch Project X, which is expected to bring about the mass adoption of decentralized finance (DeFi) by revolutionizing how users and developers access finance, according to the thread released by Injective Protocol official Twitter account Friday, October 7.
1/ Introducing the DeFi superapp built on @Injective_: Project X!
Project X is set to pioneer a new age of finance with its upcoming launch, revolutionizing the way in which both developers and users can access finance to bring true mass adoption 🚀https://t.co/nCGugjMc3d
— Injective 🥷 (@injective) October 7, 2022
Project X is a next-generation decentralized finance protocol that combines Automated strategy vaults that allow the generation of passive yield and Automated market makers (AMMs) with impermanent loss (IL) protection used for market making.
It also has a one-click launchpad for fundraising and listings to enable projects to launch at a hundred times cheaper rate and ten times more efficiently.
Over the years, traditional finance has kept users out of smart strategies even though institutions provide billions of dollars to build optimal trading strategies and models. Project X, through its automated trading vaults, will allow users to access trading strategies that were previously inaccessible to everyday users and also provide passive liquidity. Its trading vaults will act as an AMM without impermanent loss (IL) risk.
According to them, all strategies and trading vaults will be executed on-chain, providing further liquidity across the primitive on-chain order book used by dApps built on Injective.
In addition, Project X launchpad will enable developers to run fundraising events for their projects and instantly list them on the Injective exchange dApps with a single click. The launchpad will therefore allow anyone to create various forms of decentralized launches, which include dutch auctions and direct listings.
Using the LaunchPad, users create a new token, fundraise for their projects using several arrays of available decentralized auction formats and bootstrap the initial liquidity for the created token using the automated trading vaults, among other things.
As of now, details about the launch date of Project X have not been announced. According to Injective, the launch date will be made available via their social channels, and users will soon be able to use and test the features Project X offers.
