INJECTIVE NEWS: INJ ALTARIS UPGRADE, USDY, USDM, AINJ & MORE!!
Welcome Ninjas to the Injective ecosystem news roundup; here are the top stories in Injective in the Second half of July:
Ondo Finance and Injective Integration brings USDY to Injective Ecosystem, 60M INJ staked, New Exchange-Traded Product for Injective, Hydro Trading Competition, Mountain Protocol Integration, Altaris chain upgrade, and more:
Tech news
Injective has released the Altaris mainnet upgrade for the Injective Chain, on August 1st, 2024. This upgrade brings many positive changes to the Injective Ecosystem
Enhanced Scalability
Optimizations for accelerated chain speed and performance.
Flexible chain-level consensus.
Improved developer experience.
Advanced oracle network for expanded tokenized asset offerings
Support for CosmWasm 2.0 to enhance smart contract capabilities.
Improved INJ burn auction mechanics.
AINJ: The Injective Staking ETP
Injective has announced the launch of AINJ, the Injective Staking Exchange-Traded Product (ETP) by 21Shares. This new product allows users to gain exposure to INJ via major traditional finance exchange venues and brokerages while capturing staking rewards. 21Shares is a primary issuer of crypto ETPs with a strong track record of working with the largest crypto projects in the space. Their collaboration with Cathie Wood’s Ark Invest on the Bitcoin ETF showcases their expertise and reliability, managing over $3 billion in assets for this product offering alone.
60 Million INJ Tokens Staked
Injective has achieved a significant milestone: the staking volume of INJ has reached 60 million tokens. This establishes Injective as one of the largest Proof-of-Stake (PoS) Layer 1 chains in history.
Ondo Finance Integrates with Injective: Bringing Tokenized Treasury Instrument USDY to the Ecosystem
Ondo Finance has officially integrated with Injective, marking a significant advancement in bridging traditional and decentralized finance. USDY is now available for use across various decentralized applications on Injective. This integration allows users and developers to leverage USDY in decentralized exchanges, money markets, and more, fostering increased adoption and innovative use cases for both institutional players and retail investors.
Helix news
Decentralized Ondo US Dollar Yield (USDY) Spot Market Listing on Helix
The USDY/USDT spot market is now available on Helix. Traders can place market and limit orders for USDY on Helix, the premier on-chain crypto exchange built on Injective. Ondo Finance’s USDY is the world’s first tokenized note secured by US Treasuries, offering similar accessibility and utility as stablecoins while providing a yield. This aims to enhance the safety, efficiency, and accessibility of financial services through institutional-grade on-chain offerings.
New BTC/wUSDM Perpetual Futures and wUSDM Spot Market on Helix
The BTC/wUSDM Perpetual futures and wUSDM/USDT spot market are now live on Helix from July 24, 2024. This launch enables USDM trading on Helix and marks the first instance where USDM can be used as margin for trading derivatives. Injective has integrated with Mountain Protocol to bring USDM, the first permissionless yield-bearing stablecoin, into the Injective ecosystem.
Hydro Protocol (HDRO) Trading Competition with 50,000 HDRO in Rewards
The second round of the Hydro Protocol (HDRO) trading competition is now open, with 50,000 HDRO tokens up for grabs from July 23, 2024, 1 PM UTC to August 6, 2024, 1 PM UTC. Helix traders worldwide can compete to win exclusive rewards.
Ecosystem news
StreamSwap Launches on Injective with Time-Based Token Swaps
StreamSwap has officially launched on Injective, introducing time-based token swaps. StreamSwap’s unique feature allows users to conduct token swaps based on fixed or custom time intervals. By utilizing time-based swaps, StreamSwap aims to enhance liquidity and capital efficiency within the Injective ecosystem.
Injective Powers Major Asset Tokenization Platforms
Tokenized treasuries have brought $1.2 billion on-chain in the last four months, with BlackRock’s BUIDL Fund accumulating over $527 million. Injective is leading this revolution, powering major asset tokenization platforms by integrating Ondo Finance’s USDY and Mountain Protocol’s USDM, providing innovative stablecoin solutions backed by U.S. Treasuries and bank demand deposits, and enhancing liquidity and capital efficiency.
Injective Integrates Mountain Protocol to Power Tokenized T-Bills
Injective has integrated with Mountain Protocol to introduce USDM. USDM is a stablecoin backed by treasury bills, providing a secure foundation and allowing users to earn and retain daily interest on their holdings through rebasing. USDM will be bridged into Injective as wUSDM, a wrapped version that reflects the current USDM price and includes the yield in its price. wUSDM will steadily increase by 5% annually, with daily increments reflected in its value on Injective.
Hydro Integrates Ondo USDY into Injective Network
Hydro Protocol has integrated Ondo Finance’s USDY into the Injective ecosystem, marking Hydro as the first LSDFi & RWA management protocol on Injective Network. This integration allows Hydro users to access the market-leading yield coin, USDY, and form Real World Asset (RWA) strategies for their crypto portfolios. USDY will be a core component of Hydro’s Real Yield Asset (RYA) product, which serves as the converging point of RWA and Crypto World Assets (CWA). RYA provides users access to multiple yields in one product, functioning similarly to an ETF in the traditional equity market.
Community news
In case you missed our summary of the Injective Builder House 2024 Key Sessions, we are sharing it here again:
The inaugural Injective Builder House was a resounding success, marking a significant milestone for the Injective community. Held in Brussels, during EthCC, this full-day event brought together industry leaders, developers, and community members from all corners of the Injective ecosystem.
Attendees were greeted with exclusive Injective merchandise and a day packed with insightful panels, hands-on workshops, and vibrant networking opportunities. Highlights included:
Panels and Talks: The main stage featured discussions on long-term value in crypto, scaling institutional capital in Web3 finance, and the integration of RWAs. Notable speakers included Eric Chen from Injective Labs, Robinson Burkey from Wormhole Foundation, and Matt Sorg from Solana.
Hands-On Workshops: Upstairs, sessions focused on Injective’s developer toolkit, rollup interoperability, and leveraging real-time data with Pyth. Workshops provided practical guidance on launching dApps, scaling tech stacks, and bridging traditional finance with blockchain technology.
The first Injective Builder House successfully connected industry leaders and community members, setting the stage for future impactful events.
Conclusion
And that is all for today’s Injective ecosystem bi-weekly review so if you enjoyed it Ninjas remember to click that like button, subscribe button and bell icon too. We are in the top 3 Injective relayers in the last month by total number of txs and in the top 10 by best uptime and performance as well. Ninjas, consider supporting our Injective infrastructure and educational content with a delegation to our Injective validator. Thank you so much for watching and I’ll see you Ninjas very soon in the next episode!
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