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Injective Overview

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.

Project Development

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

January

February

March

  • 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

April

  • Injective raises $10 million from Pantera, Mark Cuban, BlockTower, Figment, and many more with coverage from TechCrunch

May

June

July

August

  • The Injective Hub is released to provide a unified platform for DeFi, governance and staking
  • Injective rebrands its products and all visuals

September

October

November

December

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.

Injective Team

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.

$INJ

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.

About Injective

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.

Twitter | Telegram | Telegram Announcements | Blog | Discord | Github | Youtube | Reddit | Instagram | Facebook | LinkedIn | Injective Hub Docs

If you have further questions, drop us a message to support@citadel.one. You can also join our chat in telegram, there is an active discussion of all current updates, as well as round-the-clock support from our managers.

About Citadel.one

Citadel.one is a non-custodial Proof-of-Stake platform for the management and storage of crypto assets. Users can create public addresses for all supported networks with one seed phrase, connect their Ledger or Trezor device, or import an address generated by another wallet.

The analytical dashboard provides relevant information on wallets’ balances and networks’ main metrics. In Citadel.one, we standardize the semantics, making interactions with the platform as easy as possible. The same goes for network metrics. By using universal terms, we are making it easier for users to understand and compare networks.

One of the main functions of the Citadel.one platform is participation in the PoS consensus — users can stake and delegate their assets, claim rewards, and follow the latest network proposals in the voting tab.

Citadel.one offers its users instant cryptocurrency exchange services that allow fast and secure crypto assets swap. It is also possible to buy and sell crypto with a credit or debit card. Citadel.one users can track rewards, withdrawals, transfers, and deposits across all supported networks and add comments to these transactions.

Among PoS platforms, Citadel.one supports BAND network ($BAND) Secret Network ($SCRT), Cosmos ($ATOM), ICON ($ICX), IOST ($IOST), KAVA ($KAVA), BSC ($BNB), Juno ($JUNO), Comdex ($CMDX) and Tezos ($XTZ). We also support Ethereum, Bitcoin, and Tether ($USDT) for our users’ convenience. Mobile and desktop versions, new networks, including Polkadot are scheduled for the upcoming updates. Furthermore, delving into the idea of true decentralization, we envision Citadel.one a decentralized autonomous organization and a genuinely community-owned platform in the nearest future.

Learn More About Citadel.one

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