Injective. L1. DeFi power.
intro
With $60M investments. Injective (also INJ) aims to create and to be a strong foundation for decentralized finance tools — INJ’s goal is to build basis for prediction markets (f.e. as Polymarket on EVM), loan protocols, DEXs with decentralized spot & futures trading, i.e. we can use IRL, but now it’s totally online, anonymous and safer.
In this article I’ll be your guide to the Injective’s ENORMOUS ecosystem and opportunities it provide’s. Let’s dive straight into it!
Brief
or A small talk about Injective
The Injective blockchain is designed with the aim of facilitating decentralized finance through its Layer-1 structure. Blockchain has it’s own token — $INJ, with a current price of $35.8 per. Injective provide features, like:
- cross-chain trading
- MEVs resistance (max. extractable values) (so miners won’t “rule the world”)
- cheap transcation costs ($0.0003 USD vs $10 USD in Ethereum mainnet)
Overall, Injective has brought notable innovations to the decentralized finance (DeFi) realm, including a hybrid computing architecture, a Layer-1 foundation for multiple Decentralized EXchanges (DEX) for trading cross-chain derivatives, a transaction model with zero gas fees, and an ecosystem based on the INJ token for governance, staking, platform involvement and generally as a fee-paying method.
I remember as $INJ was somewhere nearby $6 in summer 2023. Yeah, tough times, but true titans are shining right now, thankfully to the Old Orange Master over there, so now we can se as token price made a clear x6 move — as a trader I couldn’t not to mention it. The increase of the $INJ price can be attributed to the remarkable advancements achieved by the blockchain since its inception; Following a rebranding effort, Injective has emerged as a frontrunner in the dynamic blockchain landscape, showcasing substantial changes in its objectives, portfolio, and overall image — we can see how different Dapps are building more and more on Injective, day by day. We can see NFT sector evolves in a rapid pace; traders (flippers) come to Inj from different chains — Solana, Ethereum…
- All time high for $INJ is $52.04
- Peak market cap over $3.2 billion.
- TVL (for 24th February 2024) is $44,89m
- Supply 100 million $INJ
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Now you understand general purposes of Injective blockchain and why it supposed to be a game-changer!
Moving onto the next stage: history, innovation.
Backers. Technologies.
Eric Chen and Alber Chon — two CHADS who introdused world Injective in 2018
These Guys are insane! if you see them just RUN — they will sweep away everything in their path, to build a strong and robust construction site for Web3 BUILDing!
Injective Blockchain has achieved sky high scalability since its dawn, including the introduction of a mainnet, a testnet, and finally a rebranding, all while sustaining remarkable speed and providing an impeccable user experience. Notably, prominent cryptocurrency backers such as Binance Pantera, Jump Crypto have supported Injective, further solidifying its role as a frontrunner in the DeFi landscape.
You can find detailed information about Injective’s investment rounds on Cryptorank by this link
Tendermint PoS technology
Injective uses a Tendermint-based Proof-of-Stake (PoS) consensus for fast and secure transactions. It’s interoperable with Ethereum and other chains, employing a decentralized cross-chain bridging architecture. The exchange module focuses on various markets and aims for zero gas expenses. Smart contracts using CosmWasm facilitate easy multi-chain transactions.
Injective’s Tendermint-based consensus enhances network security, randomly selecting nodes for block voting. It ensures consistent transaction sequences across systems, preventing double-spending attacks. The Proof-of-Stake (PoS) method, with periodic node selection, provides additional security. Injective’s advanced consensus process guarantees users a reliable and secure experience with immediate transaction finality.
By implementins PoS, Injective provides immediate transaction finality, ensuring that once a transaction is confirmed, it becomes irrevocable.
This stands as a notable advantage compared to PoW blockchains, where the potential for forks can result in transaction reversals.
It can be to much technical information for non-asian people (for most of us), in simple terms Injective is:
- fast
- cheap
- secure
- high-liquid (very important, so users won’t lose funds on slippage!)
Injective provides cross-chain bridge between Ethereum, Solana, Moonbeam and Cosmos with guaranteeing interoperability аcross chains.
Alright, done with that. Code lovers, next part is for YOU!
Injective for developers
Why build on Inj?
Injective is convenient and smooth condition platform to build on, because of it’s reliable out-of-the-box modules, great integration with other blockchains and broad DeFi ecosystem side with plenty of liquidity.
Injective has open smart contracts framework, so Dapps’ developers can seamlessly integrate their creation into blockchain.
The list of the key tools developers can use to create innovative DeFi applications, fostering the expansion of the ecosystem:
- Plug-and-play modules for dApp development
- TypeScript monorepository
- Injective Labs SDK in Go
- Injective Developer Tools
In other words, Injective gives access to developer resources, which include training courses, technical support, and instructional materials, which enables mutual assistance leading to the inception of creative initiatives and advancements in the blockchain.
More information about developer part of the blochain is on Injective’s website.
For bridging, LP, lending or swapping protocols, Injective offers following features for builders who need to encourage traders to use the product.
Now now, let’s slowly figure out everything:
- The Exchange module facilitates traders in establishing and trading new spot and derivatives markets, with on-chain programmatically managed order book, trade execution, order matching, and settlement processes.
- The Auction module permits token holders to bid on token baskets generated from exchange trading fees. The blockchain burns or removes the INJ tokens paid by the highest bidder from circulation.
Injective employs a unique deflationary process involving a weekly auction of 60% of protocol fees, with the winning bid’s INJ tokens being burned. This mechanism aims to reduce circulating tokens, potentially resulting in an elevated $INJ price.
- Insurance offers services to underwriters supporting exchange-hosted derivatives markets, while Oracle supplies real-world pricing data, akin to traditional stock market information, used to determine asset values on the INJ exchange.
Additionally, there’s the Peggy module, which acts as an Injective blockchain bridge connecting to the Ethereum blockchain. Its purpose is to facilitate the exchange of ERC-20 tokens for the Cosmos native currency. This cross-chain compatibility expands the token options available to users and enhances interoperability between different blockchain ecosystems.
Conclussion
the end
Injective blockchain, a groundbreaking Layer-1 platform, introduces decentralized finance with community-led governance, resistance to MEV, and cross-chain trading. Its advanced features, robust technology, and thriving ecosystem position Injective as a pivotal player in shaping the future of DeFi. In the evolving landscape of blockchain and DeFi, Injective stands out as a project with immense potential, offering new opportunities for investors, developers, and users.
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Thank you for the reading of #0 — About Injective.
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Peace🤍.
