INJECTIVE NEWS: INJ CW404, MITO MAINNET LAUNCH & DOJO

Hi Ninjas!
Welcome to the Injective ecosystem news roundup, here are the top stories in Injective in the 2nd half of February:

CW404: Injective and DojoSwap launched the first ever fractional NFT standard and the first CW404 token launch on the Cosmos ecosystem happened on the DojoSwap launchpad. Learn all the details about the CW404 standard in this episode

MITO MAINNET LAUNCH: Launchpad and Automated Trading Vaults, the inaugural vaults and launchpad covered in this video as well as the next steps for Mito

INJECTIVE ECOSYSTEM UPDATES: Helix, DojoSwap, Neptune, Filament, Gryphon, xNinja and more

New Injective dApps, tech updates, milestones, events and much more in this episode, and now for today’s top stories:

Tech

Injective announced the CW404 standard in collaboration with DojoSwap. The CW404 is bringing the first ever fractional NFT standard to the fastest L1. CW404 combines the properties of fungible and non-fungible tokens, thus creating the new concept of semi-fungible tokens and this enables users to own fractions of an NFT. The CW404 standard is inspired by the ERC-404 standard but with improvements to allow the token standard to conform more similarly to the function signatures of the existing CW20 and CW721 standards. Remember that CW20 is a specification for fungible tokens based on CosmWasm and CW721 a specification for non-fungible tokens based on CosmWasm. The CW404 token identifies as both a CW20 as well as a CW721 token.
Injective is the perfect L1 for CW404 for several reasons. Firstly, while on Ethereum an ERC404 transaction costs on average $60 in the case of CW404 transactions on Injective the average costs is over 1,000 lower at around $0.05, and this is thanks to the recent Injective gas compression upgrade.
Moreover, infrastructure has already been set up to allow CW404 tokens to achieve maximum liquidity and low slippage on Helix and DojoSwap. Several projects have already launched new products focused on the new CW404 standard including SushiFighter NFT, DojoSwap and NinjaVault. Kage Finance also announced support for the CW404 standard with a suite of CW404 tools.

The Solana Name Service is supported now on the Injective explorer, so what does this mean? You can get your own .sol domain at injective.sns.id and then rather than having to search for a long wallet address, you could simply type your .sol domain in the Injective explorer which will greatly simplify searching for your wallet address.

Helix news

Helix announced some new listings. The QUNT spot market went live as well as the BONK perpetual futures market, so you are now able to trade with leverage BONK perps on Helix. The QUNT token from Injective Quants aims to provide a fun entry point into the world of DeFi and it is one of the major NFT projects on Injective.

Helix announced previously a trading competition from January 29th 2024 until February 19th 2024 with $30k worth of INJ tokens as rewards to celebrate the listing of pre-launch futures such as LayerZero’s ZRO and Jupiter’s JUP. The rewards were distributed to the top 100 traders with the highest effective real volume during the trading competition.

Ecosystem news

The Mito mainnet went live! This is a major milestone achieved, with over 150,000 ninjas that joined and supported Mito during the early access launch phase. Mito is focused on the Mito Launchpad, which is a decentralized platform built to democratize initial token sales, and the Mito Automated Trading Vaults for optimizing crypto returns using smart contract-powered trading vaults. From February 22nd, users can access early token sales happening within the Injective ecosystem via the Mito Launchpad. The inaugural project was Quants, because it was selected by the Injective community through a voting to be the first offering on the Mito Launchpad. Quants’ QUNT was oversubscribed by 656%. Once the launchpad was completed, users received 50% of the tokens and the other 50% was deposited into the QUNT/INJ trading vault. In addition, users have the option to withdraw their tokens from the vault instantly or further stake their LP tokens for rewards.
Moreover, on the 26th February, four additional trading vaults launched on Mito, the DOJO/INJ, TALIS/INJ, NINJA/INJ and the INJ/USDT vault with exclusive access for Ninja Pass holders during the first hour. At launch, all the vaults will implement a Constant Product Market Maker (CPMM) strategy. Additional trading vaults will be introduced in the coming weeks and new strategies for the vaults will be introduced as well such as ASMM vaults, managed vaults and more. Mito is democratizing the access to DeFi services by providing to users the advanced financial resources that traditionally have been only available to sophisticated institutions and hedge funds.

The Sushi Fighter NFT collection, created by the DojoSwap team, was the first to use the CW404 standard, and it was the first ever CW404 token launch on the Cosmos ecosystem. The launchpad for SUSHI concluded with a 316% oversubscription and over $4.8 million committed, thus making it the 2nd largest launchpad so far after the DOJO launchpad. When users hold a full SUSHI token, then a SUSHI FIGHTER NFT will be randomly generated and minted into the users wallets. SUSHI is the first fractional NFT on Injective leveraging the CW404 standard, and thus liquidity pools with yield mining rewards are available, meaning that users can earn while holding SUSHI. Furthemore, SUSHI started trading on Talis and it is now the most liquid and the NFT with the highest marketcap on INJ.
DojoSwap continues to achieve milestones with over $65 million in TVL, over 24k unique traders, over $250 million total volume traded, 6 airdrops and 4 more upcoming and more. Black Panther’s BLACK token will also launch on DojoSwap’s launchpad.

The Filament Shinobi testnet was announced and it will soon go live. The testnet will have several phases, Hokage for Filament’s discord community, Sensei for their advisors and early supporters, Jounin for Filament’s waitlist participants, Chunnin for Injective contributors and users such as stakers, developers or ambassadors, and finally the last phase 5 called Genin which will be open to communities competing as trading guilds on Filament.

Neptune announced the leaderboard which will represent the largest portion of the airdrop in the upcoming tokenomics. The leaderboard quantifies users’ contributions to the goal of the Neptune protocol. Users can earn points by lending and/or borrowing and this will be measured per dollar value lent or borrowed per day. To encourage teamwork, there will be increased rewards for group milestones achieved. In addition, testnet users will get a 1500 points head start. Moreover, being an early supported, using testnet or participating in Galxe campaigns will also be rewarded.

Gryphon reopened its INJ/nINJ vault for 36 hours given the high demand and mentioned that new features are upcoming such as New UI, nUSD and more.

xNinja, a SocialFi dApp on Injective, launched its mainnet. Moreover, xNinja also announced the XNJ token launch in the DojoSwap launchpad.

Community news

The official Injective handle on X has moved to @injective and the growth of Injective on X has been impressive with over 515k followers.

The Injective billboards on ETHDenver were considered by most as the best of the event, similarly as in the previous conference last year. Injective hosted two amazing side events at ETHDenver with the Builder Brunch and Happy Hour.

Galxe is now integrated with Injective with connection possible with Metamask and Keplr. Galxe is focused on incentivized learning similarly as Zealy. Ninjas, remember that for each new episode that we release, we also include new quizzes on the Cosmos ecosystem Zealy. If you study our videos and answer correctly all the quizzes you will be able to earn rewards.

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. If you would like to support our Injective content please consider staking some INJ with Cosmic Validator. Thank you so much for reading and I’ll see you Ninjas very soon in the next episode!

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