Injective Protocol FAQ
In this article, we will address a few frequently asked questions on Injective Protocol and give answers to them
Injective is the layer-1 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi.
It combines the power of solutions with a fee-less system to yield one of the most powerful decentralized exchange platforms.
Why Injective?
- Injective is a DeFi protocol which allows cross-chain derivatives trading with only a price feed and 0 gas fees, thus opening more opportunities for trading on markets.
- Injective Chain is built on top of Tendermint using the Cosmos-SDK framework.
- Injective cross-chain capabilities allows users to trade across different layer one protocols such as Ethereum, Cosmos, Polkadot, etc.
- $INJ token provides: Protocol governance, Exchange fee value capture, Derivative collateralization, Liquidity mining, Staking
- Injective provides cross-chain yield generation for a multitude of assets.
- Novel ordering matching mechanism has been developed
- As Injective is a protocol, other DEXs could be build on the Injective Protocol
What is the APR?
APR may change.
What are the risks of staking?
Staking is safe since you are the owner of your private keys. The only risk from staking comes from the possibility of getting slashed. A slashing is an event where the validator forfeits a defined proportion of staked tokens, which are then burned or redistributed to other stakeholders. Therefore, it’s very important to choose a good validator.
How to choose a Validator? How many nodes are running on the Protocol?
Injective Protocol currently has 41 validators. Validators can make themselves public and your decision could be based on the reputation. The maximum commission rate and maximum commission rate change are the parameters that delegators should look into on Mainnet. At Staking Dashboard you’re available to check staked amount and commission rate of each validator. Moreover, some of the validators participate in Injective communities and have their own ones, so you can ask any questions to them.
Can I re-delegate to a different validator?
It is possible to redelegate to a different validator instantly. However, if you do it once then you would need to wait until the Unbonding Period to re-delegate the tokens from that validator to a different one.
Links
Staking guide
blog.injective.com/injective-hub-guide
What is staking?
https://blog.injectiveprotocol.com/what-is-staking/
Mainnet Staking
https://staking.injective.network/connect
Citadel.one Validator communities
https://t.me/citadelofficial
https://twitter.com/CitadelDAO
About
https://cryptoseq.medium.com/why-injective-protocol-inj-is-an-incredible-investment-opportunity-5ea7fea97228
https://cryptoseq.medium.com/why-injective-protocol-inj-has-the-potential-to-be-bigger-than-bnb-36e762ca4673
Why Injective? Leave your answer here https://twitter.com/InjectiveLabs/status/1404188703220809731?s=20
You’re welcome to Stake $INJ with Citadel.one validator!
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.
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