INJECTIVE NEWS: INJ, PYTH, USDY, HELIX GUILDS & MORE!!

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

USDY ON INJECTIVE: The first interoperable tokenized treasury in crypto is on Injective, what does this mean for Injective and the wider Cosmos ecosystem? All the details in this episode

HELIX GUILDS COMPETITION: From November 27 to December 11, a chance to win 10k TIA and 1k INJ tokens. If you would like to participate, watch this video to learn more

SPL TOKENS ON INJECTIVE: What are SPL tokens and what is the positive impact for the Injective and Solana ecosystems?

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

Tech

The gas fees on Injective are over 300 times lower than on Ethereum. In addition, Injective is the fastest L1 built for finance with 0.8s block time. In summary, Injective is blazing fast with practically 0 gas fees.

Remember that two months ago in September, Injective announced inEVM. It is important to highlight again that this is a major milestone because what inEVM means is the first Ethereum Virtual Machine with true composability across Cosmos and Solana. In other words, dApps launched on the inEVM layer can be composed directly with Solana and Cosmos applications. This is great for Ethereum developers, since now they can leverage the most popular programming language for blockchain, Solidity, to deploy their dApps into the Injective ecosystem, thus benefiting from ultra-fast speed, instant finality, and composability across the Cosmos and Solana ecosystems.

Injective has integrated Solana Program Library (SPL) tokens. What this means is that now assets from the Solana ecosystem, such as PYTH for example, can be seamlessly accessed via the Injective Hub and Bridge. Users can now access and trade Solana-based assets, including PYTH but also many other tokens. Moreover, thanks to this integration of SPL tokens, the trading volumes and revenue on Injective will increase by leveraging the liquidity and growth of the Solana ecosystem.

Helix news

The PYTH perpetual market was added to Helix’s pre-launch futures. Helix is the first exchange to provide access to PYTH even before the major CEX exchanges. Pre-launch futures is the latest product offering of Helix, and the inauguration of this new product was previously with Celestia’s TIA pre-launch futures which was a great success.

The Helix Guilds competition will last from November 27, 2023 at 3PM UTC until December 11, 2023 at 3PM UTC. The total rewards are 10k TIA and 1k INJ tokens. The rewards will be determined by the trading volume in the TIA/USDT market and the weighted average balance of TIA. The top 1 Guild in each of these two categories will share 5k TIA and 500 INJ token as rewards. More specifically, each Guild has a Guild Master and up to 150 members, and the Guild Master will win 20% of the rewards while the other members will earn 80% of the rewards. If you would like to participate, either as a Guild Master or member, you can follow the link included her for additional details.

Helix is leading in terms of trading volume for Celestia’s TIA across all DEXs, well done Helix!

Ecosystem news

USDY is the first ever tokenized note secured by US Treasuries and it was launched by Ondo Finance, providing similar utility as stablecoins and also a yield. Furthermore, USDY tokenized treasuries are interoperable and will help to accelerate real-world assets (RWA) adoption. USDY is the first interoperable tokenized treasury in crypto and Helix is the first platform to support the USDY/USDT spot market within the Cosmos ecosystem. There has been a recent growth of the marketcap of RWAs in 2023 from $100 million at the beginning of 2023 to over $700 million. A major driver of this growth was Ondo Finance. Please note that the USDY tokens are not being offered or sold, and will not be offered or sold, in the United States or to U.S. persons.

Injective has now integrated the first ever native Injective wallet called Ninji wallet. This is great news and the Ninji wallet will enhance and simplify the UI with new unique features. Moreover, OKX wallet and Binance Web3 Wallet have also integrated Injective.

Community news

The Injective Illuminate hackathon, done in partnership with Google Cloud, has been extended until December 21st due to the unprecedented high demand and sign-ups. Therefore, you still have time to apply, to submit your project and a chance to win rewards.

Eric and Albert, the Injective Labs co-founders, were featured on the latest Forbes 30 under 30 list, huge congrats!

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. Remember that we are now securing Injective as a validator in the active set, so if you would like to support our Injective content you can follow the link below to stake 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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