Injective Protocol is a fully decentralized layer-2 DEX protocol built for the next generation of decentralized derivatives exchange. The Injective Chain is a Tendermint-based IBC-compatible blockchain that supports a decentralized orderbook-based DEX protocol and a trustless ERC-20 token bridge to the Ethereum blockchain.
It is the first layer-2 fully decentralized exchange protocol for decentralized perpetual swaps, futures, and spot trading that unlocks the full potential of decentralized derivatives and borderless DeFi. Every component of the protocol has been built to be fully trustless, censorship-resistant, publicly verifiable, and front-running resistant.
By providing the unrestricted and unprecedented ability to express diverse views in the decentralized financial markets, the team is striving to empower individuals with the ability to more efficiently allocate capital in our society.
The year 2021 was marked by rapid growth and adoption of Injective. During this time, Injective launched its state-of-the-art mainnet and released Web3 products that would come to redefine the entire crypto industry.
The Injective ecosystem continues to be one of the fastest-growing ecosystems in all of crypto. Alongside powerful exchange relayers built on Injective, a number of decentralized applications and protocols such as Terra have integrated with Injective as well.
You can view all ecosystem projects and collaborators on the official Injective ecosystem page.
Injective 2021 Milestones
- Solstice Decentralized expiry futures launch alongside synthetics for Tesla, GameStop, forex, and much more
- The Solstice testnet processes over 1,000,000 trades and Injective is accepted into the prominent Defi Alliance cohort
- Injective works with Burnt Banksy to mint the first-ever authentic Banksy NFT, gaining coverage from mainstream media such as CBS & Forbes
- Equinox Staking goes live after a successful pre-stake period and the Frequent Batch Auction model goes live to prevent front-running and MEV
- Injective raises $10 million from Pantera, Mark Cuban, BlockTower, Figment, and many more with coverage from TechCrunch
- The first phase of the Injective mainnet commences alongside the insurance fund release
- Injective incubates Burnt Finance: a fully decentralized auction protocol
- The canary chain is launched with a revamped Injective Pro exchange
- Thai Bank venture arm joins Injective as a validator
- The Injective Hub is released to provide a unified platform for DeFi, governance and staking
- Injective rebrands its products and all visuals
- The multi-chain Injective Bridge goes live and the Injective API is introduced for institutions
- Picasso Exchange launches on Injective and a new ecosystem page is released for all Injective collaborations
- The Injective mainnet is launched and quickly surpasses $100 Million in volume in just a few days
- The $120 Million Injective Astro program is introduced and new exchanges such as MarsX and Unlimited Exchange are built on Injective
- Injective helps created the first-ever IBC enabled markets with a novel oracle integration
- Spot markets for ATOM become available on Injective
- Injective becomes one of the fastest-growing exchanges of all time and reaches $1 Billion in total volume at record time
- Injective lists Terra UST pairs and the first-ever decentralized LUNA perpetuals which reach $50M in volume in just a week
- Injective Bridge onboards the Terra blockchain via IBC
- Picasso introduces a swap interface, the Terra community builds Lunatics Exchange on top of Injective, Unlimited Exchange introduces a new interface and Huobi Pool starts to build a Huobi relayer on Injective
- Injective burn auctions begin and over $700,000 worth of INJ is burned in less than a month
- Injective validator Orman creates an Injective stats dashboard
Injective will continue to pave a path towards pioneering the new Web3 economy moving forward.
The focus in 2022 will be to build the most powerful decentralized derivatives exchange, an interoperable smart contract layer, novel cross-chain integrations, and innovative Web3 applications.
After a career as a researcher at NYU Blockchain Labs and Innovating Capital, in 2018 Eric Chen (CEO) founded Injective Protocol together with Albert Chon (CTO). The idea behind the project was to improve DeFi usability and security, eliminating problems related to high latency, poor liquidity, and UX. The ultimate goal was to give DEX users the same flawless experience they have with CEXs, eliminating the gap between the two.
INJ is developed by Injective Labs, a research & development firm dedicated to the creation of a completely decentralized system that contributes to the Injective Protocol.
The staff at Injective Labs consists of dynamic engineers, traders, and operators.
Injective Labs not only hosts a relayer interface that connects users to the Injective network, but it also offers backend support for the protocol.
The INJ team has a webpage that is solely dedicated to the INJ laboratories.
The INJ token is a decentralized public utility and governance token of Injective Protocol. It is extremely important since it has an impact on governance, derivatives collateralization, market maker, protocol security, relayer incentives, and more.
The maximum supply of INJ tokens is 100,000,000. The current circulating supply is 100,000,000 INJ.
Use Cases of INJ Token
- Governance of the Protocol and Ecosystem
The INJ exchange is owned and controlled by the INJ holders. INJ token enables users to participate in its ecosystem through a decentralized autonomous organization (DAO) structure wherein users can trade as well as create market derivatives.
You can host an exchange on the relayer node, which makes you eligible for 40% of the exchange costs/fees on orders that you source. Plus, you also create an effect on the Injective Chain, such as futures protocol exchange parameters and protocol upgrades.
- Market Maker Incentives
The Injective DEX charges exchange fees of 0.1 percent for makers and 0.2 percent for takers. Market makers that contribute to bootstrap liquidity on the DEX trading platform are eligible for fee reductions. These market maker awards will be provided on a regular basis by analyzing exchange balance snapshots from user accounts to calculate fee savings for certain periods of use.
- Collateral Derivatives
The INJ token can work as a stablecoin alternative to provide collateral for margin trading and the usage of Injective’s derivatives market. Furthermore, INJ may be utilized for collateral backing and insurance pool staking in specialized futures markets, allowing stakers to earn interest on their locked liquidity provider tokens.
- Staking Injective Protocol (INJ)
You can stake your INJ tokens by delegating to an existing Injective Chain validator or become a validator yourself as an INJ token holder. You’ll get staking incentives for safeguarding the Injective network, and you’ll be able to participate in the protocol’s governance.
Injective Protocol is an Ethereum-compatible front-running resistant completely decentralized cross-chain protocol. It not only supports existing Ethereum users but is also intended to help connect users from various blockchain networks together into a single crypto community. The interoperable backbone that powers Injective Protocol enables cross-chain interactions between sovereign blockchains.
To learn more about Injective Protocol visit their official website.
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