What is #Injective Protocol?
And what is their local token $INJ used for?
A thread on all things #INJ 🧵
And what is their local token $INJ used for?
A thread on all things #INJ 🧵
Injective Labs is an interoperable layer 1 protocol for building Web3 decentralized applications (dApps) with a special focus on exchanges, Decentralized Finance (DeFi), and derivatives applications
Founded by Eric Chen and Albert Chon in the year 2018, Injective Protocol is a decentralized derivatives exchange based on Ethereum backed by a layer-2 solution.
Injective Protocol envisions a newly constructed economy that is decentralized in nature.
The vision is to invent a more safe and more confidential system of exchange, payments, and remittances.
The vision is to invent a more safe and more confidential system of exchange, payments, and remittances.
Injective’s core exchange module provides an advanced on-chain order book and matching engine for spot, perpetual, futures and options markets, resistance to Miner-Extractable Value (MEV) through frequent batch auction order matching, and zero gas fees for users.
Makers pay 0.1% on trades and takers pay 0.2% in trading fees on the Injective Decentralised Exchange.
Injective Chain, is the core backbone for Injective’s sidechain layer 2, which works based on a hand-in-hand process with Cosmos zone. The Injective Chain also represents the infrastructure of the project.
Smart contracts are implemented on Injective through #Cosmos's CosmWasm, allowing for multi-chain smart contract transactions to occur seamlessly. Injective, however, is the only blockchain that enables automatic smart contract execution.
This capability serves as a powerful building block for developers to create novel use cases that would not be possible on any other chain.
This infrastructure powers the Defi applications of next-gen in a decentralized and trustworthy mechanism. Injective Chain is a platform of derivatives that fully hosts an orderbook, EVM execution environment, trade execution coordinator, and a token bridge to Ethereum.
Some of the big names of the blockchain industry are part of the Injective ecosystem.
To name a few: API3, Avalanche, Axie Infinity, Binance, Covalent, Huobi Pool, Harmony, Klaytn, Kraken, Ledger, Near, Polkadot, Stacks, and Uniswap.
To name a few: API3, Avalanche, Axie Infinity, Binance, Covalent, Huobi Pool, Harmony, Klaytn, Kraken, Ledger, Near, Polkadot, Stacks, and Uniswap.
The INJ protocol platform is owned, governed and controlled by holders of $INJ.
This allows users to take part in the ecosystem through a DAO whereby users of the network can perform transactions and establish market derivatives.
This allows users to take part in the ecosystem through a DAO whereby users of the network can perform transactions and establish market derivatives.
Tokenomics 📌
Injective Protocol’s native token is $INJ
$INJ is a digital asset utilized for governance, exchange value capture, liquidity mining, and staking
Every 14 days, 60% of exchange fees are used to buy back and burn $INJ, allowing the quantity of INJ to decline
Injective Protocol’s native token is $INJ
$INJ is a digital asset utilized for governance, exchange value capture, liquidity mining, and staking
Every 14 days, 60% of exchange fees are used to buy back and burn $INJ, allowing the quantity of INJ to decline
$INJ is currently priced at $2 per coin and is ranked at 159 on @CoinMarketCap.
With a marketcap of approx 150,000,000 and a fully diluted market cap of 205,000,000.
The max supply sits at 100,000,000 and the current circulating supply sits at 73,000,000
With a marketcap of approx 150,000,000 and a fully diluted market cap of 205,000,000.
The max supply sits at 100,000,000 and the current circulating supply sits at 73,000,000
That's it for $INJ.
follow me -@yqboom for more project summaries and Technical analysis.
Cheers lads.
follow me -@yqboom for more project summaries and Technical analysis.
Cheers lads.
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