Injective is a Layer 1 Cross-chain protocol in the Cosmos ecosystem, focusing on developing high-speed DeFi products with low transaction fees.
The project provides a multi-chain platform for DeFi applications such as decentralized exchanges, derivatives trading, lending, etc., with a Proof-of-Stake consensus mechanism and broad interoperability across many popular blockchains.
MAIN CONTENT
Injective is a Layer 1 Cross-chain standard of Cosmos, prioritizing speed and extremely low fees.
Notable products include Wallet, Bridge, Staking, Governance, and Burn Auction to control inflation.
INJ is supported by many large investment funds and a strong development ecosystem with an effective token burn mechanism.
What is Injective?
Injective is developed by Injective Labs, a public blockchain supporting diverse DeFi activities in the Cosmos ecosystem. The system uses the Cosmos SDK and Proof-of-Stake consensus mechanism based on Tendermint, allowing for fast transaction processing at low costs.
According to Injective Labs, the protocol can achieve over 10,000 transactions per second, meeting the needs of large-scale DeFi.
How does the project's products work?
Injective Hub is the main interaction center for users with many core functions such as wallet, cross-chain bridge, staking, governance, and token burn auction.
The Injective wallet helps manage multi-chain assets, while the Bridge seamlessly connects with Ethereum, Solana, CosmosHub, Moonbeam, and many other chains, supporting efficient asset transfers. The Staking mechanism on the platform allows users to delegate tokens to validators for regular profits.
Injective provides a comprehensive DeFi solution, helping to create new markets and minimize costs for users.
Eric Chen – CEO of Injective Labs, 2023
Burn Auction is a unique mechanism, where 60% of the transaction fees collected are used to auction INJ, and the winning INJ will be burned, creating robust deflationary pressure for the INJ token. Additionally, an insurance fund is established to protect users in the derivatives market.
The four main technical components include Injective Chain nodes, smart contracts/bridge orchestrator, API nodes, and dApps providing a stable and highly scalable platform.
What are the project's standout features?
Injective Chain is a public permissionless blockchain, where anyone can participate in the consensus mechanism and market development on the platform. This ensures transparency and full user control over all transactions.
The project stands out with a block creation time of just 1.1 seconds and an average transaction fee of under 0.01 USD, quickly and economically meeting the needs of large-scale DeFi applications. Notably, a series of reputable partners like Binance, CosmosHub, and Astroport have joined the ecosystem.
Cross-chain trading capability supports a variety of asset sources on Layer 1 like Ethereum and Cosmos, helping to flexibly expand DeFi activities.
The token burning mechanism has destroyed over 5.6 million INJ, helping control inflation and maintain long-term value for the token.
What is INJ and what is its tokenomics?
What is INJ?
INJ is the main utility and governance token of Injective, providing voting rights for holders and utilities on the platform such as reward distribution, liquidity support, and serving as collateral in derivatives trading.
Token data
Token Name: Injective Token
Symbol: INJ
Blockchain: Injective
Token Standard: ERC-20
Contract: 0xe28b3b32b6c345a34ff64674606124dd5aceca30
Token Type: Utility & Governance
Total Supply: 100 million INJ
Circulating Supply: 73 million INJ
INJ Token Allocation
The distribution of INJ is reasonably divided among funding rounds, the team, the community, and technology development, specifically:
Distribution % Binance Launchpad Sale 9% Seed Sale 6% Private Sale 16.67% Team 20% Community 10% Advisors 2% Development 36.33%
INJ Token Payment Schedule
The token payment schedule is allocated quarterly with a long-term plan to ensure supply stability and support ecosystem development.
INJ Token Utility
Governance: INJ holders have the right to vote on protocol development proposals.
Reward Distribution: INJ is used to reward participants providing liquidity through Liquidity Mining.
Token Burn: 60% of transaction fees are used to buy back and burn INJ, effectively controlling the total supply.
Collateral: INJ is used as collateral instead of stablecoins in derivative trading.
Storage wallet and exchange for INJ Token
Storage wallet for INJ Token
SafePal
Ledger
Trezor
Metamask
INJ Token exchange
Binance
MEXC Global
Coinbase
KuCoin
What does the roadmap of Injective look like?
The roadmap focuses on upgrading the interface, integrating bridges, and expanding trading functions quarterly from late 2022 to early 2024, aiming to complete the ecosystem and scalability.
Q4/2022: Injective Explorer V2, integration of Wormhole Bridge, Fiat support for DApps
Q1/2023: Injective Hub V2, Institutional Zone
Q2/2023: Upgrade of Exchange Module V2 and Casablanca
Q3/2023: Launch of Injective Orbital Chains
Q4/2023: Development of Mesh chain network and upgrade of Carcosa
Q1/2024: Implementation of Multi VM Chains and upgrade of Volan
Who is on the project team?
The team includes Eric Chen (CEO & Co-founder) with a background in financial research and product management from NYU Stern and Albert Chon (CTO & Co-founder), a software engineer graduated from Stanford with experience at Amazon and Open Zeppelin.
Who are the investors and partners of Injective?
Investors
Injective has raised a total of 56.7 million USD from prestigious funds like Jump Crypto, Binance Labs, Pantera Capital, and billionaire Mark Cuban. In early 2023, the project continued to receive 40 million USD investment from Jump Crypto and BH Digital.
Injective's 150 million USD ecosystem fund initiative will promote development and attract top developers.
Injective Labs, 25/01/2023
Partners
The project collaborates with many blockchain partners like KardiaChain, Cartesi to optimize experience and product development, along with large funds promoting the ecosystem.
Insights on INJ
Is INJ invested in by many large funds?
INJ has received investments from reputable funds and top investors, demonstrating trust and the potential for sustainable development of the project in the cryptocurrency market.
What is the current state of the INJ ecosystem?
The Injective ecosystem is heavily invested with a 150 million USD fund, along with the involvement of prominent dApps such as Frontrunner and Helix, while the major AMM Astroport has just joined to enhance value and assets in the protocol.
Does INJ have an effective inflation control mechanism?
Injective's continuous token burn mechanism has destroyed over 5.6 million INJ, contributing to maintaining scarcity and long-term value for the INJ token.
Frequently asked questions about the INJ project
What are the official information channels of Injective?
In addition to the official website, users can follow Injective through Telegram, Twitter at twitter.com/Injective_, and Discord for the latest updates.
What is the IEO price of INJ coin?
INJ was listed on Binance in October 2020 at an IEO price of 0.4 USD and has since grown with an ROI of 935.7%.
Which wallets can store INJ?
INJ supports storage on popular wallets like SafePal, Ledger, Trezor, and Metamask, making it convenient for users to manage their assets.
Are the transaction fees of Injective high?
With an average fee of under 0.01 USD and processing speeds over 10,000 TPS, Injective ensures very low transaction costs and fast speeds.
Can INJ be used in project governance?
INJ holders have the right to vote on important governance decisions, participating in the direction of the Injective ecosystem's development.
Source: https://tintucbitcoin.com/injective-inj-la-gi/
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