Binance incubated blockchain for finance Injective announced a major integration with Mountain Protocol.
In particular, Injective supports the yield-bearing stablecoin USDM from Mountain Protocol and lets customers use it as collateral for derivatives trades. Injective users would receive a yield on the stablecoin’s Treasury Bill-backed assets due to the integration, the firms said in a news release.
For the first time, users can access the regulated and compliant stablecoin as a margin in perpetual trading when they utilize the USDM as a margin when trading derivatives. Helix, an injective-based decentralized exchange, is the first decentralized application (dApp) to accept USDM as collateral for derivatives trading.
According to Injective Labs, the blockchain network’s real-world asset ecosystem benefits from USDM support. Co-founder and CEO of Injective Labs Eric Chen claims that working with Mountain Protocol combines the advantages of both systems, allowing consumers to benefit from both traditional and decentralized financing.
The opportunities USDM offers cryptocurrency users are expanded in light of the RWAs market’s growth. The executive from Injective Labs also mentioned how important it is for Injective to have the security and sustainability that US Treasury Bills provide to the RWAs space.
Injective announced that it had connected with Ondo Finance to introduce the tokenized Treasury token USDY to its ecosystem. This announcement was made before the collaboration with Mountain Protocol. Additionally, USDY will support Injective’s RWA use case.Â
Ownership of Yields Back to Individuals
Users of INJ gain from USDM, a noteworthy addition to Injective’s RWA market. Interestingly, Injective can now provide access to traditional assets without relying on conventional third-party providers, thanks to the relationship.
By doing this, customers avoid the expensive costs, legal troubles, and financial hardships associated with legacy suppliers like banks. Chen stated that consumers are guaranteed “full ownership of yields” thanks to integration with the Mountain Protocol and USDM compatibility.
