📝 Hello everyone, I am 𝟏𝟎, welcome back to the #BlockchainDevelopmentHistory project research series. Today, we will focus on (Injective / INJ).
Mouthful of Injective, the Yapper leaderboard event launched in collaboration with veteran financial public chain @injective and Kaito AI. An AI algorithm-driven content creation competition platform. Just actively participate in content creation for a chance to share thousands of $INJ rewards every month!
👇👇👇
1. What is Injective?
Injective ($INJ) is a Layer 1 public chain born for finance, founded in 2018 by Eric Chen and Albert Chon, and incubated by Binance Labs. Injective is not a jack-of-all-trades, but is specifically tailored for high-frequency, low-latency DeFi applications, taking a specialized route.
2. How hardcore is Injective?
1. On-chain order book + derivatives module
Injective is one of the few Layer-1 public chains that natively supports on-chain limit order books, perpetual contracts, and options trading, bidding farewell to the AMM model, making trading more decentralized and transparent.
2. Performance optimization to the extreme
Each block takes about 1 second to confirm, with instant transaction settlement and negligible gas fees.
3. Cross-chain interoperability
Supports cross-chain protocols such as Cosmos IBC and Wormhole. Not only is it a core member of the Cosmos ecosystem, but it can also interconnect with chains like Ethereum and Solana, making Injective a hub for multi-chain DeFi.
4. $INJ Deflationary Mechanism
60% of the protocol fees collected by the platform are burned. As the ecosystem grows, INJ becomes scarcer, and its value potential is self-evident.
5. Heavyweight Background
Incubated by Binance Labs, backed by Jump Crypto, Pantera, and Mark Cuban, the project's reputation and resources are robust.
3. How does Injective work?
1. Exchange Module: This is Injective's trading engine, supporting users to create and trade spot and derivatives markets on-chain, handling order books, matching, settlement, etc.
2. Auction Module: The platform will auction off accumulated trading fees converted into a basket of tokens every week, with users bidding using INJ. The INJ of the winning bidders will be burned, reducing circulation and increasing scarcity.
3. Insurance Module: Provides funding protection for the derivatives market, supported by community underwriters.
4. Oracle Module: Connects real-world prices to provide accurate data for on-chain asset pricing.
5. Peggy Module: Connects Ethereum and Injective, allowing ERC-20 tokens to cross-chain into the Cosmos ecosystem.
4. Why is INJ valuable?
1. Network security relies on it: INJ tokens can be staked to participate in Injective's proof-of-stake mechanism. Those who stake help secure the network and can earn rewards, benefitting both from earnings and maintaining system stability.
2. You have coins, you have a say: INJ holders can participate in governance, voting on key decisions such as protocol upgrades and parameter adjustments, truly controlling the future direction of the platform.
3. The more trades, the more rewards: Relayers can earn up to 40% of trading fees as rewards by matching orders, and these rewards are distributed in INJ. The more active the platform, the greater the demand for INJ.
4. Enhanced by deflationary mechanisms: 60% of each trading fee will be burned, meaning that the total supply of INJ will decrease, increasing scarcity, which is beneficial for long-term value appreciation.
5. Hard currency in the derivatives market: INJ can also be used as collateral to participate in derivatives trading, which is one of the core functions of DeFi, further enhancing the utility of the token.
5. The correct posture for mouthfuls of $INJ
1. Registration: Use your X (formerly Twitter) account to register on the Injective leaderboard.
2. Participate: Create and share content related to Injective, including articles, tweet threads, memes, and discussions.
3. View rankings in real-time: The system will AI score based on your content influence, creativity, and activity. Rankings are updated in real-time, allowing you to track your progress at any time.
4. Participate in interactions: Engage more with the Injective team and the Yapper community (like AMAs, comments, Q&A), not only can this earn points, but it can also gain more exposure.
5. Maintain stable output: The leaderboard is evaluated every 7 and 30 days, suggesting a stable publishing frequency to favor active and continuous creators.
6. Reward Mechanism: At the end of each month, INJ rewards will be distributed based on leaderboard rankings. The higher the ranking, the more rewards. Your efforts will be recognized!
