Injective

What is an injection protocol (INJ)?

INJ is the native token of the Injective protocol developed by Injective Labs. If you are interested in the current price of INJ, check out the price chart above.

Injective is interaction protocol built specifically for DeFi applications compatible with Ethereum. This allows users trade on various DeFi markets and also develop them. This includes trading perpetual and futures contracts, crypto assets, synthetic assets and any other type of asset.

Trades using the Injective protocol are completed instantly and do not incur any gas fees. Additionally, Injective supports cross-chain trading, which means users can trade their assets across different blockchains.

Central Limit Order Book is the core of the Injective trading system. The limit order book displays the quantity limit orders which are currently open at every price level. It provides users with transparency while at the same time giving them an easy to use interface and fast transaction speeds.

Apart from trading, Injective also allows users develop decentralized applications (dApps). With Injective’s compatibility with Ethereum, developers can build cross-chain dApps using Ethereum-based tools. For this they have the right to receive developer rewards.

The consensus mechanism used by the Injective protocol is Proof-of-Stake (PoS) algorithm based on Tendermint. How it works? Simply put, for each period, a random node is selected from a set of validators. This node must then propose the next block. The chain is immediately updated and a new block is added if other validators approve it. To become node validators, users must stake INJ tokens.

To be as informed as possible, check out Injective Protocol’s price history and trends in the chart above.

Founders of injection laboratories

Injective Labs was founded Eric Chen and Albert Chon. Eric Chen not only has extensive knowledge of blockchain-based protocols, but also has a deep understanding of traditional banking. Before founding Injective, he was a trader and crypto researcher at a large crypto fund.

Albert Chong has a degree in computer science. He developed the ERC-1178 token standard, which is widely used in many projects. Before co-founding Injective Labs, Jeong worked as a full-stack software engineer at Linc Global and a software development engineer at Amazon.

Purpose of INJ tokens

INJ is the utility and control token of the Injective protocol. The Injective token is stored on the Ethereum network as ERK-20 token. Below are the main uses of injection coins:

• Control. INJ owners can vote on various decisions regarding the future development of the Injective protocol.
• Safety. INJ tokens are used to reward PoS consensus mechanism node validators for their participation in securing the Injective protocol.
• Providing collateral for derivative financial instruments. INJ tokens can be used as collateral for margin trading. This allows users to access the derivatives market on Injective.
• Market maker rewards. Market makers who help provide liquidity on the DEX trading platform are compensated through fees charged to users of the Injective exchange.
• Bid. INJ tokens can be staked to generate annual returns of up to 12%.

INJ Tokenomics

INJ tokens are deflationary because their maximum supply is 100 million tokens. 31.67% of the total supply was spent on Binance Launchpad, seed and private sales. The remainder was divided between the team and consultants, as well as ecosystem development and community growth funds.

If you are planning to purchase Injective coins, keep in mind that INJ price is subject to change. This is because the volatility of the entire crypto market affects the injective price, just like the price of other digital assets.

So, if you are interested in buying this digital asset, be sure to check out the chart above.