#Injective has introduced its first ever CW20-reflection standard with #dojoswap to enable developers to create tokens in a more flexible way!
Lets take a look at some key points⬇️
1. New Token Standard:
Injective and DojoSwap introduce the CW20-reflection standard, allowing developers to create customizable tokens with innovative features.
2. Flexible Tokens:
CW20-reflection standard enables the creation of tokens with customizable protocol fee sharing parameters, opening doors for diverse applications🔥
3. Collaborative Effort:
This release is a joint effort between Injective and DojoSwap, following the success of CW404 token standard for NFT fractionalization🤝
4. Financial Hub:
Injective has become a key financial hub in major layer one ecosystems, fostering adoption of financial primitives and embracing open standards 🚀
5. Inspiration:
The CW20-reflection standard was inspired by EVM counterparts, customized for the Cosmos ecosystem, and designed to promote innovation in DeFi
6. Functionality:
Tokens can function either as taxed tokens or reflection tokens, with customizable tax parameters and compatibility with AMM DEX‘s
7. Usage Flexibility:
Addresses can be whitelisted to prevent taxes, and tokens can be converted into a bank version to remove transfer taxes, allowing usage on various DEX’s and CEX’s
8. Deep Liquidity:
Injective exchange dApps offer deep trading liquidity compared to other DeFi Ecosystems, ensuring low slippage for orders, even for large transactions exceeding $50,000, which is crucial for the efficient operation of the reflection token standard🚀
9. Low Gas Fees:
With the lowest gas fees among major blockchains, Injective provides a cost-effective environment for reflection tokens, reducing transaction costs significantly🚀
10. Encouraging Innovation:
CW20-reflection standard encourages the creation of new financial primitives, driving innovation in the crypto world and reinforcing Injective’s position as a leading L1 for finance🔥
