Pre-IPO contracts break the barriers of TradFi

Helix Boldly Reshapes the Landscape

In recent days, the Perp DEX sector has been thriving, with platforms like Aster and Hyperliquid successfully surpassing 100,000 daily active users, and contract trading volumes continuously breaking records and reaching new highs. Thanks to their innovative incentive mechanisms and smooth trading experiences, these emerging exchanges have successfully captured a considerable market share from CEX.

However, a growth bottleneck is gradually emerging beneath the prosperity: The vast majority of trading pairs on Perp DEX are still limited to mainstream cryptocurrencies such as Bitcoin ( BTC ) and Ethereum ( ETH ). The singularity of asset classes restricts the future imagination space. When user growth and trading volume naturally hit a ceiling, all platforms will compete over homogeneous assets.

The core exchange Helix in the Injective ecosystem is reshaping the landscape with a bold answer. So where exactly will the next breakthrough for Perp DEX be?

RWA - Bringing the highest value asset class from the real world, Pre-IPO company equity, onto the blockchain.

Just after October, Helix suddenly dropped a bomb: it launched perpetual contracts for unlisted companies like OpenAI, which is different from the Pre-IPO investment channels provided by centralized platforms like Robinhood. Helix has given ordinary investors worldwide their first opportunity to access and trade these high-potential assets on-chain. Previously, such assets were monopolized by top institutions, such as investment banks and large capital. Complex KYC restrictions and investment amount limits made it even more daunting for ordinary investors.

The confidence of Helix in breaking down traditional financial barriers comes from the underlying Injective blockchain and its deep accumulation. InjectiveLabs, founded in 2018 by Eric Chen and Albert Chon, had a crucial starting point by being selected for the first phase of the Binance incubator (BinanceLabs, now called YZi Labs ). This not only brought seed funding to the team but also helped them stand out among hundreds of projects, which was even more critical in obtaining industry endorsement and access to top-tier resources within the Binance ecosystem.

As stated by Injective's official sources, its on-chain Pre-IPO perpetual contracts have features such as programmable ( Programmable ) leverage ( Leverage ) composability ( Composable ) and high capital efficiency ( Capital Efficient ), supported by data from SedaProtocol and Caplight Data, ensuring 100% security and transparency of on-chain operations.

In fact, it goes beyond just native crypto assets; Injective's ambitions have long been evident. It has targeted real-world assets (RWA) for perpetual contracts through the Helix platform, ranging from commodities like gold and oil to tokenized stocks of Apple and Google. The launch of the Pre-IPO market is the ultimate manifestation of its vision for “financial democratization,” completely breaking the barriers of traditional finance.

Top institutional endorsement: A capital matrix with seven years of deep binding.

In terms of financing endorsement, aside from billionaire Mark Cuban ( Mark Cuban ), Injective's list of investors is dazzling, including numerous institutions such as Pantera Capital and Jump Crypto. It is the continuous support from these top-tier institutions that provides a solid backing for Injective's focus on technological innovation and ecosystem expansion.

This top-level endorsement is not a one-time choice, but a deep binding lasting seven years. Ella Zhang, the head of YZi Labs, recently confirmed this by stating that the vision of YZi Labs supporting DEX started seven years ago when they incubated Injective, and they will work with founders like Eric Chen who are continuously building (#BUIDLing) to construct the ecosystem together. This long-term trust from industry pioneers is the most valuable intangible asset of the Injective ecosystem.

Conclusion

From a DEX solution focused on an on-chain order book to bringing a $20 trillion Pre-IPO market on-chain. The evolutionary path of Injective and Helix clearly presents the next frontier of DeFi. It is no longer content to engage in zero-sum games within the walled garden of the crypto world, but rather decisively takes initiative to decentralize the most valuable and unequal parts of the traditional finance sector.

In the second half of the Perp DEX, the competition is about who can break through the “crypto island.” While fierce competition over transaction fees is still ongoing on other platforms with BTC/ETH contracts, Helix has already led users to dive into the core area of traditional finance. This is not just product innovation; it is a transfer of power. In the past, the discourse power of finance was held by Wall Street, but now an ordinary user can engage in games with institutional giants in the same market as long as they connect their wallet.

Helix confirms with the Pre-IPO contract: “Financial democratization” is not just a slogan; when ordinary people get hold of the keys that were once out of reach, it is actually the blockchain technology that has opened a door. Next, let’s see how many people dare to hold this key and open the door to a new world.