Injective Integrates Polkadot Assets

Published on: 05.06.2022
Injective Integrates Polkadot Assets

Injective integrates Polkadot assets to expand the cross-chain universe. This integration allows Injective to be the primary gateway for cross-chain Polkadot assets to enter the Cosmos world.

This integration will be made possible by Moonbeam, an EVM-compatible smart contracts platform for Polkadot. In addition, Axelar will act as an interoperability network that facilities the bridging process behind the scenes.

Polkadot is a sharded multichain protocol that connects and secures a network of specialized blockchains. Sharded chains are referred to as “parachains” because they run on the Polkadot network in parallel.

Each parachain on Polkadot has its own special focus. For instance, Moonbeam is currently the most popular Polkadot parachain that provides an EVM development environment for users to deeply EVM compatible dApps on Polkadot.

How did Injective integrate Polkadot assets?

Support for Polkadot assets made possible via integrations with both Moonbeam and Axelar.

On a high level, Injective is integrated with Moonbeam which supports Polkadot-based assets. Axelar is an interoperability network that facilitates the bridging transaction for Polkadot assets on the backend.

Of course, all of the technical complexities abstract away for the end user so that they can bridge over assets from Polkadot to Injective in just a few clicks!

 Bridging Polkadot assets to Injective

You can begin transferring assets from Polkadot using the Injective Bridge. Simply connect your MetaMask or ledger wallet, select Moonbeam from the dropdown menu on the Bridge and press the “Transfer Now” button.

Note: You will need to add the Moonbeam network to your MetaMask if you have not done so in the past. You can find detailed instructions for how to do so here.

Why is this integration important for the Injective ecosystem?

Furthermore, the integration of Polkadot assets positions Injective into becoming the primary gateway for Polkadot assets to enter the interchain Cosmos universe.

A diverse array of dApps on Injective can now provide new functionalities unlocked by Polkadot native assets. For example, exchange dApps built on Injective can begin to offer spot market trading for Polkadot assets such as DOT.

New dApps building on Injective can enjoy the benefits of a truly interoperable network now that Injective supports major chains such as Cosmos, Ethereum, and Polkadot. Upcoming integrations with EVM compatible chains and Solana will continue to expand the possibilities for users on Injective.

ABOUT Injective Protocol
Injective is an interoperable blockchain for building powerful DeFi & Web3 applications. Injective provides out-of-the-box order book and derivatives primitives needed to create mainstream DeFi apps. Smart contract-enabled apps on Injective are natively compatible with Ethereum and Cosmos IBC while also being able to achieve instant transaction finality. INJ is the native deflationary scarce asset that powers Injective and its rapidly growing ecosystem.

Website | Twitter

ABOUT Polkadot
Polkadot is a sharded multichain protocol that connects and secures a network of specialized blockchains.

Website | Twitter

Injective Blog

Market Stats:
BTC Dominance: 54.61%(+0.11%/24h)
ETH Dominance: 18.06%(+0.48%/24h)
Defi Market Cap: $86.74B(+28.54%/24h)
Total Market Cap: $2352.49B(-2.22%/24h)
Total Trading Volume 24h: $101.4B(+28.61%/24h)
ETH Market Cap: $424.68B
Defi to ETH Ratio: 20.43%
Defi Dominance: 3.51%
Altcoin Market Cap: $1067.88B
Altcoin Volume 24h: $61.96B
Total Cryptocurrencies: 30302
Active Cryptocurrencies: 10123
Active Market Pairs: 82746
Active Exchanges: 781
Total Exchanges: 8709
BTC: 65157.21$(0.32%/1H)
ETH: 3475.27$(0.16%/1H)
AVAX: 26.44$(-0.52%/1H)
BNB: 587.26$(0.06%/1H)
MATIC: 0.55$(0.2%/1H)
FTM: 0.53$(1.02%/1H)
ADA: 0.38$(0.1%/1H)
DOT: 5.76$(0.33%/1H)
UNI: 9.72$(1.07%/1H)
CAKE: 2.21$(0.08%/1H)
SUSHI: 0.81$(0.45%/1H)
ONE: 0.01$(0.38%/1H)