🌎 Injective Integrates Mountain Protocol’s USDM for Derivatives Trading

Injective, the blockchain platform for finance incubated by Binance and supported by investors like Pantera, Jump Crypto, and Mark Cuban, has announced a pivotal integration with Mountain Protocol.

Injective Supports Mountain Protocol’s USDM

Injective has added support for Mountain Protocol’s yield-bearing stablecoin, USDM. This integration allows users to leverage USDM as collateral for derivatives trading.

Significance of the Integration

This integration enables Injective users to earn a yield on the stablecoin’s Treasury Bill-backed assets. Additionally, users can utilize USDM as margin when trading derivatives. This marks the first instance where users can employ a regulated, compliant stablecoin as a margin in perpetual trading scenarios.

Helix to Offer USDM as Collateral

Helix, a decentralized exchange on the Injective blockchain, will be the first decentralized application (dApp) to offer USDM as collateral for trading derivatives.

Expanding into Real-World Assets (RWA)

Injective Labs highlights that USDM support bolsters the blockchain network’s focus on real-world assets (RWA). According to Eric Chen, co-founder and CEO of Injective Labs, the collaboration with Mountain Protocol merges the advantages of traditional and decentralized finance.

“USDM expands the opportunities available to crypto users amid the growth in the RWAs market,” Chen noted.

Benefits of USDM Integration

The security and sustainability provided by US Treasury bills are crucial for Injective’s RWA space. This integration follows Injective’s recent collaboration with Ondo Finance to introduce the tokenized treasury token USDY to its ecosystem. USDY is also anticipated to enhance Injective’s RWA use case.

Ownership of Yields

USDM is a significant addition to Injective’s RWA market, providing benefits to INJ users. This partnership allows Injective to offer access to traditional assets without relying on traditional third-party providers, thereby saving users from high fees and regulatory or economic challenges associated with legacy providers like banks.