July Update: CosmWasm Chain Upgrade, and Larger Ecosystem Build!
July was a big month for Injective. From the highly anticipated mainnet chain upgrade, to multiple spotlights on ecosystem growth, Injective is leading to a more vibrant DeFi ecosystem.
For a recap of July, check out this highlight reel 👇
1. CosmWasm Chain Upgrade
Injective has undergone a mainnet chain upgrade on July 5th which includes support for CosmWasm smart contracts, interchain accounts, binary options, negative maker fees and more.
- The new CosmWasm implementation will allow developers to build a diverse set of applications on Injective while still utilizing the existing core modules that Injective provides.
- Negative maker fees for approved markets will provide incentives to market makers when trading on Injective, thus encouraging more liquidity on-chain.
- Binary options markets will now be supported on-chain to provide support for new types of applications to be built on Injective.
2. Negative Maker Fees — Live For 17 Markets!
Negative maker fees are now live for seventeen (17) markets across exchange dApps built on Injective. Institutions can receive a -0.01% maker rate for perpetual swaps and spot markets such as $DOT, $EVMOS, $APE, $BTC, $ETH and more.
With this benefit, and a Dedicated Market Maker (DMM) program that can provide rewards of up to $120,000 every four weeks, Injective provides some of the highest benefits for institutional traders.
3. Binary Options: Frontrunner Testnet
Frontrunner is a decentralized sports prediction market that enables anyone to bet with zero limits, and zero gas fees. With CosmWasm and the new binary options module powered by Injective, Frontrunner launched its testnet product, Frontrunner Preseason, with a 12-week trading competition starting July 20.
To sign up for early access, click here.
4. Ecosystem Addition: Wavely Exchange Launch
Wavely Exchange, another order book derivatives exchange built on Injective, launched this month, with new features including light mode, new desktop and mobile trading interface. Users can also generate PnL cards to share with friends through the portfolio section.
5. Ecosystem Addition: New Trading Guild
Dexterium has adopted and launched Injective’s open-source Trading Guilds since last month, allowing users to generate yield with the automated guild strategies they choose. In the current Dexterium Trading Guilds, the INJ Dojo trading bot has reached 24% APY.
6. INJDojo Trading Competition
INJDojo, the exchange dApp built by and for the nINJa community, is hosting its first-ever trading competition. The trading competition is a four-week competition that started on July 20, offering exclusive NFTs and aa $10,000 prize pool.
To sign up for the competition, click here.
7. Injective In the News
Eric Chen, co-founder and CEO of Injective Labs, was featured on CoinDesk TV to share his insights on the current market, overall industry trends, and what’s working in DeFi and why.
Injective’s mainnet chain upgrade was also featured on ZDNet, covering Injective’s CosmWasm smart contract implementation and the new negative maker fees support for market makers utilizing Injective’s trading API.
8. Tweet of the Month
- Injective has reached over 88M total on-chain transactions.
- Injective has reached 41,000 followers on CoinMarketCap’s Gravity page, and ranked Top 10 projects on CoinMarketCap by followers gained and by page engagement!
- Cosmoverse announced Eric Chen as a speaker at Cosmoverse 2022.
- Injective Labs hosted a Community Call to chat about mainnet chain upgrade, Frontrunner, and new ecosystem additions.
- Injective Labs hosted an AMA on Discord with Comdex to learn about their proposal to launch new assets on Injective.
- Stakely has included Injective on its website to display information about Injective staking, profit calculator, and relevant resources.
- Injective Explorer has launched a new interface with new sections to start displaying CosmWasm smart contract code deployments on Injective.
- Injective’s developer docs have been revamped to include CosmWasm details.
Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications. Injective was created using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.