The Astroport mainnet is now live on Injective, bringing the most powerful AMM to the Injective ecosystem! Injective now has the most liquid on-chain orderbook infrastructure coupled with a sophisticated AMM application, creating a highly capital efficient environment for users everywhere.
Astroport is a sophisticated AMM protocol that allows any user to swap or LP crypto assets using multiple pool types, including Curve-style stableswap pools and Uniswap V2-style constant product pools. Astroport users will also be able to take advantage of Injective’s interoperable network, swapping assets bridged from not only Cosmos or Ethereum, but also from Solana, Aptos, and Avalanche through Injective’s Wormhole integration.
Since Astroport launched its testnet on Injective in early January, it has attracted a great deal of attention from the broader Cosmos community during the early-access testing phase. Now the mainnet launch not only marks Astroport’s first-ever interchain deployment but also brings a new avenue for users to instantly swap crypto assets and earn yield within the Injective ecosystem. In addition, the Astroport and Injective communities are working together to provide new incentives and opportunities for early users.
What Is Astroport?
Astroport is an automated market maker (AMM) that aims to make it easy for users to swap crypto assets. Unlike traditional exchanges, Astroport’s AMM exchange automatically matches buyers and sellers through algorithms and smart contracts, allowing for instant trades to occur at a predetermined price.
As Astroport is built on Injective, users will be able to take advantage of Injective’s interoperable network, swapping assets from not only Cosmos or Ethereum, but also from chains such as Solana through Injective’s recent Wormhole integration. Users can bridge assets to Injective via the Injective Bridge. Then, they can create liquidity pools on Astroport to begin earning as LPs and start trading new markets.
Astroport Brings Major Benefits to the Injective Ecosystem
Astroport is one of the largest DeFi applications in history, reaching billions in volume within a few short weeks of launch.
Astroport contributors spent a great deal of time analyzing a number of major L1 networks before determining Injective to be the host chain for its V2 iteration. Astroport has now officially migrated its mainnet to Injective as its first new deployment, bringing one of the largest AMMs to the Injective ecosystem.
Astroport brings a new source of automated liquidity to Injective’s burgeoning ecosystem. In addition, Astroport can potentially begin to work in tandem with Injective’s MEV resistant on-chain orderbook. Effectively, users can now carry our new arbitrage and trading strategies that tap into the liquidity on the CLOB and Astroport’s AMM. In turn, Astroport can become the primary trading venue for the masses, which would not be possible without Injective’s next-generation infrastructure stack that is optimized specifically for financial applications.
Astroport also further bolsters Injective ecosystem with the first AMM type of application, aiming to onboard more retail users who wish to trade long tail assets. The exchange dApps on Injective have already processed over $8.5 billion with the highest liquidity profile available in the on-chain orderbook market today.
Now Injective not only supports orderbooks which serve the needs for popular pairs, but also AMMs which tend to offer better liquidity and yield for long tail assets. As a result, sophisticated traders, institutions and everyday users can all benefit from a more enhanced trading experience not found elsewhere.
Governance: Protocol Revenue and New Dual Incentives
Astroport’s governing body, the Astral Assembly, is also carrying out proposals to connect the Injective deployment to Astroport’s main instance for cross-chain governance and ongoing fee sharing, which can generate more protocol fees to Injective as a whole.
In addition, the Astral Assembly is planning to direct new incentives to the initial LP pools available on Astroport. This can allow users to earn higher LP rewards which is also a first for the Injective ecosystem. The Injective community can also choose to vote on new proposals to provide dual rewards into these LP pools so users are able to earn both ASTRO and INJ simultaneously.
Getting Started on Astroport
To swap or LP on Astroport, you’ll need to deposit assets on Injective first. Here you can find a quick walkthrough on how to get started.
Bridge assets to Injective
- Go to the Injective Bridge and connect your wallet
- Select the chain you are transferring assets from, and choose the token you want to bridge to Injective. Note that Injective supports both Cosmos assets (via IBC) and non-Cosmos assets via bridges (including Wormhole)
- Click “Transfer Now” and follow the instructions on the pop-up
- Once the transfer is completed, you can check the balance in your Injective Wallet
- For Injective’s native asset INJ, you can also deposit from centralized exchanges such as Binance, Kucoin and Gate.io to your Injective wallet by choosing Injective as the supported network
- To move ASTRO tokens from Terra to Injective, use Astroport’s new interchain bridging portal here
Onboard with Fiat
- You can also onboard onto Injective using popular fiat currencies
- Go to Kado, choose your payment currency (e.g. USD) and enter the amount in fiat you would like to swap
- Connect the wallet that you’d like to receive funds to
- Select your payment method and transfer
- Once the transaction is completed, you will see the USDT balance on your Injective Wallet
Visit Astroport Swap
- Once you have assets on Injective, visit the Astroport website
- Connect your preferred wallet and select the Injective network
- You can now begin swapping for a range of assets including ASTRO, INJ, ATOM, USDC, USDT, and many more.
Visit Astroport Pools
- You can also begin LP’ing for a range of pools to earn rewards
- In order to encourage liquidity provisioning and to bootstrap the Injective Astroport satellite, Astroport proposed to offer ASTRO rewards to four pools: ASTRO-USDT, INJ-USDT, ATOM-USDT and USDC-USDT
- The initial amount of ASTRO rewards for each pool should last for 8 weeks (according to the Astroport Incentive Framework). After the initial 8 weeks of rewards, the community should re-evaluate the amount of fees produced by these pools and adjust ASTRO rewards.
- The pool creation process on Astroport is decentralized so you can launch one yourself. Visit the Astroport Docs for a step-by-step guide on creating pools or join the Astroport Discord to chat with other astronauts.
Moving forward, Astroport will release new trading assets and pools, bringing never before seen assets and surprise benefits to the Injective universe!
Experience it now with Astroport on Injective at app.astroport.fi.
Injective is a lightning fast interoperable layer one blockchain that brings Cosmos and ethereum interoperability to the premier finance applications. Injective provides developers with powerful modules for building exchange, DeFi, derivatives & Web3 apps. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
Website | Telegram | Discord | Blog | Twitter | Learn | Youtube | Facebook |LinkedIn | Reddit | Instagram |Orbit Newsletter