TLDR
- Injective launches pre-IPO perpetual futures, offering global investors access to private companies like OpenAI.
- The new offering allows users to take leveraged positions of up to five times on private company valuations.
- Pre-IPO perpetuals are powered by decentralized oracle infrastructure from Seda Protocol and pricing data from Caplight.
- OpenAI will be the first private company featured on Injective’s decentralized exchange, Helix.
- Injective’s model offers a decentralized, permissionless way to gain exposure to private companies without equity ownership.
Injective has introduced a new offering in decentralized finance. The protocol now allows investors to trade synthetic versions of private companies, such as OpenAI, via pre-IPO perpetual futures. This innovative move sets Injective apart from centralized platforms like Robinhood, providing a decentralized way for users to gain exposure to high-profile private companies.
A New Era in Pre-IPO Trading with Injective
Injective’s new pre-IPO perpetual markets offer a unique opportunity for global investors. Unlike traditional centralized platforms, users can take leveraged positions of up to five times on private company valuations. Injective’s offering ensures that users can engage with these markets on-chain, distinguishing itself from competitors.
According to Injective’s announcement, the pre-IPO perpetuals are powered by Seda Protocol and Caplight. Seda Protocol offers a decentralized oracle infrastructure, while Caplight aggregates pricing data from venture-backed companies. This combination of technologies enables a fully on-chain, decentralized, and permissionless trading experience.
The first pre-IPO perpetual market will feature OpenAI, the developer behind ChatGPT. Injective will list OpenAI on Helix, a decentralized exchange built on the Injective network. The protocol also plans to add additional private companies to its offering by October, allowing users to expand their exposure to other notable firms in the private market space.
On-Chain Perpetuals Offer Indirect Equity Exposure
Injective is expanding the decentralized finance (DeFi) landscape by bringing traditional financial markets on-chain. The protocol emphasizes composability, programmability, and capital efficiency in its offering. Unlike centralized pre-IPO products, which are restricted to institutional or accredited investors, Injective makes these markets accessible to a global audience.
The protocol’s use of on-chain perpetual derivatives offers a decentralized way for users to gain exposure to private companies. These derivatives are tied to reference prices of private companies, but they do not represent equity ownership. Despite this, they offer users indirect exposure to the underlying private company valuations.
Injective’s model highlights a growing trend in DeFi and real-world asset (RWA) tokenization. The RWA market has seen rapid growth, with the total value of on-chain financial assets reaching nearly $32 billion this year.
