- Injective has launched the first on-chain pre-IPO market through Helix, enabling decentralized trading of private company equity exposure.
- The initial offering allows users to access synthetic trades tied to OpenAI shares in a fully on-chain format for the first time.
- Helix’s “Pre-IPO Perpetual Markets” provide up to 5x leverage and trading incentives such as maker fee rebates.
- Each pre-IPO perpetual contract reflects the valuation of its underlying company via real-time on-chain oracle feeds.
- The platform plans to add more private companies, with community governance directing future listings.
Injective, a blockchain protocol, announced on Wednesday the launch of an on-chain pre-IPO market through its decentralized exchange Helix. This new product allows traders to gain exposure to private companies, starting with synthetic trading of OpenAI shares, all handled in a decentralized manner.
The launch introduces “Pre-IPO Perpetual Markets” on Helix, letting users trade contracts that simulate the price of private company shares. According to the company, these contracts offer leverage up to five times and include maker fee rebates to encourage active participation.
Injective indicated that each perpetual contract is linked to the valuation of its underlying company, using continuously updated on-chain price feeds known as oracles. “This launch marks the first time OpenAI shares are accessible in a fully on-chain format,” the group stated. These new private company perpetuals are part of Helix’s initiative to make previously restricted private equity markets available in decentralized finance, or DeFi.
The company revealed plans to broaden its offerings, including more private firms such as SpaceX, Perplexity, Anthropic, Monzo, xAI, Revolut, Airtable, and Notion. Injective stated that community members holding INJ tokens will have the ability to propose and vote on which assets to list through the Injective Hub governance portal.
Earlier this year, Injective partnered with Republic, aiming to explore the use of blockchain technology for equity instruments. The platform reported $1 billion in trading volume for real-world asset perpetual futures over the last 30 days, highlighting increased adoption of its DeFi infrastructure for accessing private equity markets.
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