Injective

What is Injective?

Injective offers tools for constructing decentralized applications (dapps) that specifically target financial functionalities within the cryptocurrency space. The platform strives to establish an extensive decentralized finance (DeFi) infrastructure that is interconnected and capable of tapping into substantial liquidity. Utilizing the Cosmos software development kit (SDK), Injective leverages the rapid transaction capabilities inherent in the underlying architecture of the Cosmos blockchain, as well as the interoperability facilitated by Cosmos' Inter-Blockchain Communication (IBC) protocol.

The native token of Injective, known as INJ, serves the dual purpose of validating transactions through staking and governing the protocol through community voting. Furthermore, individuals who develop DeFi dapps on the Injective platform receive rewards in the form of INJ tokens.

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Recent Video Interview

Main points of the interview:

• Injective Labs focuses on decentralized finance, aiming to bridge traditional and decentralized finance.
• Recent major upgrades include gas compression and an RWA module.
• Injective Labs developed a blockchain specifically for finance.
• The platform features high interoperability, fast block production, and unique financial modules.

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How Does Injective Work?

Injective Protocol comprises several components that support the functionality and development of its decentralized exchange.

Injective Chain:

• A decentralized exchange (DEX) protocol built on Cosmos.
• Facilitates the transfer and trading of Ethereum tokens.
• Addresses scaling and throughput limitations of many Layer 1 blockchains.
• Allows developers to use familiar Ethereum development kits.
• Modules within Injective Chain DEX include Auction, Exchange, Insurance, Oracle, and Peggy.

Injective Exchange:

• An order book model exchange based on the 0x protocol.
• All components are open source, including the user interface, smart contract functionality, and order book management system.
• Implements a Trade Execution Coordinator (TEC) to prevent trade front running.
• Aims for transparency and accessibility in building the platform.

Injective Hub:

• A dashboard providing users with an overview and functionality for utilizing the Injective Protocol.
• Users can stake INJ to become network validators, ensuring the security of the Proof of Stake blockchain.
• INJ holders can delegate tokens to validators and earn a percentage of rewards.
• Serves as a platform for community members to propose and vote on changes, including new trading pairs, platform features, and governance procedures.

Injective Team Background

Founded in 2018 by Eric Chen, who holds the position of CEO at Injective Labs, and Albert Chon, who serves as the company's CTO, Injective Labs acts as the parent company overseeing the funding and development of the Injective protocol. Notable milestones for Injective include the mainnet release in late 2021 and the introduction of smart contract capabilities in late 2022.

Injective has garnered support from prominent crypto investors, with Binance hosting the INJ token launch. Additional funding has been secured from major venture capital groups such as Pantera and Jump Crypto. The protocol's development is further bolstered through partnerships across the industry, including the allocation of resources from its $150 million ecosystem fund. Some of Injective's most notable partnerships include Klaytn, Payfura, Tencent Cloud, Wormhole, and more.

Injective Project Development

Injective is unveiling inEVM, a groundbreaking Ethereum Virtual Machine (EVM) that achieves genuine composability across Cosmos and Solana. Developed in collaboration with Caldera, a Sequoia-backed L2 rollup infrastructure platform, the inEVM network provides Ethereum developers unprecedented access to Injective's global network and user base. This opens up new opportunities for developers to extend the influence of their protocols.

inEVM brings several key advantages for developers, including ultra-fast speeds through a parallelized structure, instant transaction finality, a modular toolkit, shared liquidity, and the ability to achieve composability across the Cosmos IBC universe and Solana.

Injective Price Analysis

As of November 24 2024 Injective has a marketcap of $2.7B. This is {{percentagefromath}} from its all time high of $52.62. In terms of its tokenomics, there's a total supply of 100M with 98% currently outstanding. Keep in mind Injective has a fully diluted value of $2.8B which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.