Do you want to catch the next bull run leg with the hottest financial app chain? Where other chains turn into zombie chains, this one keeps building. It’s also very much alive and vibrant. New partnerships and new features keep shipping. Its ecosystem keeps growing. It has been around since late 2018. As a result, all tokens are already circulating. In other words, there are no more token unlocks.
Furthermore, it’s also a deflationary token. How much better can it get, right? These are two tokenomics features I just love! So, it’s time to get busy and dive straight into the nitty-gritty of this protocol. Say hi to Injective.
What Is Injective ($INJ)
Injective ($INJ) is a financial app chain. An app chain concentrates on a specific use case. They cater to specific functions and offer other, specific features. For example,
More efficient processing.
Reduced congestion.
Or lower transaction costs.
Lightning fast
Lowest fees in crypto
Weekly token burns
Brand new RWAs
All of the above
Injective. The blockchain built for finance.
— Injective (@injective) September 26, 2024
As already mentioned, Injective is a financial app. So, this means that it caters to financial dApps. Almost everything on Injective and its ecosystem breathes finance. Check my previous videos on Injective. Here and here.
The team built Injective on Cosmos and used its Tendermint consensus mechanism. Nowadays, it is not uncommon, but in 2018 this was a novelty. However, Injective is also EVM compatible. This broadens its appeal and reach. So, along the way, the team also attracted quite a lot of attention.
This resulted in good funding. Backers include, for example, Binance Labs, Pantera Capital, and Marc Cuban.
Technical and Non-Technical Features
So, even though it is a financial chain, there are also general-purpose dApps on Injective. For example, there are also lively NFT and gaming scenes inside the ecosystem.
Factors that set Injective apart are technical and non-technical.
So, here are some examples of the technical area.
The team modified the Tendermint core. They try to reduce block time. This should result in better scalability.
Source: Tendermint docs
There are also Plug-and-Play modules. This creates developer-friendly conditions. Devs can build with minimal time and resources. For example, an exchange module that offers various trading options. This is at the heart of the protocol. Think of spot, derivatives, on-chain order books, and order matching.
Injective is also MEV resistant. So, it’s not possible to favor certain transactions and have them processed faster. The FBA (Frequent Batch Auction) deals with this. This influences Injective’s block times and TPS (Transaction Per Second). Block times are currently 650 ms (0.65 seconds) and its TPS is 25,000. That’s fast!
There’s also an RWA module that allows easy tokenization of RWA assets. For example, the #1 RWA project by market cap, Ondo Finance, supports Injective.
All these technical differences are what can give a well-thought-out appchain an edge over a general-purpose chain. These things like scalability and FBA are features financial apps need desperately.
Some non-technical examples are, for instance,
There’s a steady flow of collabs with promising projects. For example, Ondo Finance and Ethena use the platform.
It also welcomes institutions. One of the products on offer is an ETP or Exchange Traded Product. Major TradFi exchanges list these products and track the underlying asset. For instance, $AINJ is such an asset.
What Sets Injective Apart?
What is it that sets Injective apart from other, similar projects? Well, as I mentioned before, the team keeps building ad delivering. It’s a versatile team that easily adapts to new market trends and activities. For example,
The gas compression feature launched in January 2024. As the name implies, it compresses gas fees. This makes its transaction costs the lowest among all chains. It’s $0.0003 on Injective, compared to $0.00045 on Solana. The picture below shows a comparison of average gas costs across some major chains.
Source: Injective blog
It powers the first tokenized index for BlackRock’s BUIDL Fund. This allows retail, like you and me, to access this RWA Fund. The Fund is only accessible through dApps on Injective, like Helix.
Across all DEXes on Injective, the total trading volume exceeds $40 billion.
The protocol’s revenue is on the rise. In August, it reached 6th spot with $1.54 million. That’s a pain point for many protocols, not having sustainable revenue. Injective is one of the positive exceptions here.
Injective protocol revenue on the rise
Higher. pic.twitter.com/LXHk5MFsfS
— Injective (@injective) September 9, 2024
$INJ Tokenomics
The $INJ tokenomics are another feature that sets it apart. As I already mentioned at the beginning, all tokens already circulate. There are no more token unlock surprises with sell off pressure. I do like projects that reach this stage.
With a current $INJ price of $23.43, $INJ shows green colors everywhere. Over one year it pumped 180%. Its ATH was at $52.62 earlier this year in March. That’s a good 2x from here. During the next leg up, this token should and can do better than a 2x. With a current $2 billion market cap, that should be possible.
Another great feature is that $INJ is deflationary. Something I greatly appreciate because it reduces the token supply. Currently, the protocol is in V3.0. So, this V3.0 cuts the $INJ supply even more. The protocol auctions off part of the accumulated fees. It burns the $INJ it receives from this auction. To date, we’re looking at roughly 6.17 million $INJ tokens. That’s around $120 million at current rates.
Source: Four Pillars report
Injective’s Ecosystem
Injective’s ecosystem is already impressive. Currently, it boasts almost 300 projects. They’re spread out over 13 different sectors. So, let’s take a look at some highlights.
Analytics — With Dex Screener you have a tool that helps you analyze tokens.
Apps & tooling — You can find Akash network here.
Data — Pyth and Chainlink, two oracles, are part of this. And so is Google Cloud.
DeFi — No less than 28 protocols find their home here. Hydro Finance, a liquid staking protocol, is one of them.
DEXes – Helix and Dojoswap are worth mentioning.
Infrastructure — Over 40 platforms mingle around here. This includes Solana, Near, Osmosis, and Stacks.
Institutions. — Big exchanges are part of this. Like Binance Labs, Coinbase Institutional, Gate Labs, or Pantera Capital.
More infrastructure — Here you can find the likes of Wormhole or Axelar.
NFTs — Talis is the main marketplace.
Stablecoins — $PYUSD, $USDC, $USDT, they’re all there.
Wallets — Keplr, Leap, Phantom, EVM wallets, and cold storage wallets are all available.
So, as you can see, a busy and worthwhile ecosystem. And I only showed you the tip of the iceberg. There’s much more to discover.
Don’t ignore or fade Injective. There’s still plenty of growth available for $INJ and its ecosystem. Which is your favorite project or feature on Injective, or did I not mention it?
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.
We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence.
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This articles is written by : Fady Askharoun Samy Askharoun
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