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Injective (INJERC20)ETH

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Injective (INJERC20) Price Statistics

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    $21.41 - $22.76
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Injective Protocol: The Fastest L1 Blockchain Shaping DeFi

The vast majority of protocols in the DeFi industry are aimed at expanding its possibilities. Injective is a Layer-1, or base layer, protocol built on Cosmos, a blockchain network that rivals Ethereum. It is an open, scalable blockchain with smart contracts that is designed for DeFi applications. Any developer can easily create finance apps with inherent value using Injective's plug-and-play modules, which include an order book and a derivatives trading module. With the use of smart contracts, developers can create sophisticated applications using cutting-edge protocols. Let’s take a closer look at Injective protocol and find out more about this project.

What Is Injective Crypto?

Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain order book. All types of financial markets, including spot, perpetual, futures, and options, are also entirely on-chain. The decentralized cross-chain bridging infrastructure works with Ethereum, IBC-enabled blockchains, and chains like Solana that are not compatible with the Ethereum Virtual Machine (EVM).

Additionally, Injective offers a powerful interchain smart contract platform built on CosmWasm that is the next generation and extremely interoperable. Injective is a custom application created with the Cosmos SDK that uses a Proof-of-Stake consensus mechanism based on Tendermint to provide instant transaction finality and maintain blazing-fast speed (10,000+ TPS).

Key components of Injective include:

  1. Blockchain for L1 smart contracts: Injective offers a cutting-edge interchain L1 that can reach extremely fast speeds while requiring no gas fees.
  2. Unlimited DeFi applications: Injective allows anyone to build DeFi applications with Injective’s robust infrastructure and financial primitives such as an on-chain order book.
  3. Cross-chain trading and yield generation: Injective has the ability to enable a wide range of trading and yield generation operations across various L1 blockchain networks, including Cosmos and Ethereum.
  4. Community-driven network governance: Injective's decentralized community, which is managed by a DAO structure, votes on all new improvements.
  5. Pioneering interoperability: Injective provides native connections to several other cryptocurrencies, including Cosmos, Solana, Ethereum, and many more.
  6. Intuitive developer experience: Flexible and expressive programming environments driven by Golang and Rust provide an intuitive developer experience.
  7. Environmentally friendly: Tendermint PoS consensus technology from Injective results in a 99% reduction in carbon footprint.
  8. Compatible with the Inter-Blockchain Communication (IBC) protocol: This allows Injective to communicate with other IBC-compatible chains. An Ethereum token bridge lets holders of ERC-20 tokens trade their holdings on Injective.

Injective Hub

Injective Hub is the dashboard that provides users with the overview and functionality they need to make the most of the Injective Protocol. 

Users can access the Injective Hub to stake their INJ to become network validators tasked with upholding the security of the Proof of Stake blockchain. INJ holders can also choose to delegate their tokens to network validators and earn a percentage of their rewards in return.

Injective Hub is also the location for community members to propose and vote on proposals that will shape the future of Injective. Examples of proposals that are put to vote include new trading pairs, platform functionality and governance procedures.

Injective Coin: The Power Behind the Ecosystem

INJ is the native utility token of Injective. For governance, token burn auctions, and staking on the PoS network, INJ is a limited resource. Since 60% of all fees earned from dApps are auctioned off every week via a buy back and burn mechanism, the burn auctions on Injective are particularly distinctive. This then enables the supply of INJ to gradually decline significantly. The INJ burn auction is distinctive in that it contributes to the growth of the Injective ecosystem as a whole.

Protocol governance, dApp value capture, Proof-of-Stake (PoS) security, developer incentives, and staking are just a few of the use cases that INJ is meant for. Here are its other features: 

  1. Protocol Governance: The INJ token governs every single component of Injective, including chain upgrades. Since its mainnet launch, the Injective community has actively contributed to governance, with all proposals passing through a DAO governance vote.
  2. Protocol fee value capture: 60% of all fees generated from dApps enter an on-chain buy-back-and-burn auction to maintain the deflationary nature of INJ.
  3. Tendermint-based Pos security: INJ is used to secure the Injective blockchain using a Proof-of-Stake mechanism. Validators and delegators can both participate in staking.
  4. Developer incentives: 40% of fees generated by users on dApps built on Injective go directly towards incentivizing new developers building on Injective which brings an ever growing funnel of builders to Injective.

INJ: Price Changes

INJ was worth $0.77 when it launched in October 2020. The token rose to a high of $25.01 on April 30, 2021, just as the crypto market swelled to an all-time high. The token’s price was volatile for the rest of 2021 but trended downward. INJ slumped even further in May 2022, when it fell to lows of $1.55.

INJ’s market cap sank to about $120 million when the token crashed in May 2022. So did Injective’s total valued locked (TVL), which cratered from highs of $182 million in February 2022 to $64 million in June 2022.

Injective launched the token with an initial supply of 100 million INJ tokens. It aims to increase these over time through block rewards – where new INJ tokens are issued to those that validate batches of transactions on its proof-of-stake side chain.

At launch, Injective targeted the rate of annual inflation at 7%, and aims to decrease this to 2% over time. Injective also incorporated a deflationary measure to counteract rampant inflation. Every two weeks, the protocol sells 60% of the trading fees it accumulates for INJ, then burns that INJ to deflate the token’s total supply.

Injective Protocol: Partnerships to Help the Ecosystem Thrive 

Injective has partnered with a number of DeFi companies to bring decentralized trading to the masses, for instance, partnering with Klaytn, a public blockchain developed by Ground X, and integrating Injective’s decentralized derivatives protocol, Klaytn users were able to access a diverse array of new financial markets. By partnering with Tencent Cloud in April 2023, Injective Protocol aims to support builders in the Injective ecosystem.

Where to Buy Injective Protocol (INJ) Crypto?

StealthEX is here to help you buy INJ coin. You can do this privately and without the need to sign up for the service. Our crypto collection has more than 1300 different coins and you can do wallet-to-wallet transfers instantly and problem-free.

Just go to StealthEX and follow these easy steps:

  1. Choose the pair and the amount you want to exchange — for instance, BTC to INJ. 
  2. Press the “Start exchange” button.
  3. Provide the recipient address to transfer your crypto to.
  4. Process the transaction.
  5. Receive your crypto coins.

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Injective Price Chart

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