The cryptocurrency derivatives trading agreement Injective Protocol and CMS Holdings reached a strategic cooperation. The two parties will cooperate in the design of crypto asset derivative products based on the Injective protocol, market strategy and liquidity management of the trading market. CMS will serve as an Injective consultant and be the first batch of institutional traders on the Injective mainnet. CMS Holdings was founded by Daniel Matuszewski, the former head of Circle Trade, an over-the-counter (OTC) trading platform of crypto asset company Circle. The company ’s other partners include Bobby Cho, the former head of trading at the encryption department of broker Cumberland DRW, and the technical head of the former Circle Julien Collard-Seguin. Injective Protocol is a Layer2 decentralized derivatives trading protocol supported by Binance Labs and others, based on Cosmos and Ethereum networks, and integrates a verifiable delay function (VDF) to prevent cheating and bad transactions.