The next-generation DeFi applications, such as decentralized spot and derivatives exchanges, prediction markets, lending protocols, and more, are powered by the layer-one blockchain caller Injective designed specifically for finance. The protocol is built on the Cosmos SDK and uses Tendermint consensus to ensure security and scalability.
- Token Price: $7.49
- Market Cap: $599,367,045
- Exchange: INJ is currently trading live on Binance, BTCEX, CoinW, Deepcoin, and BingX.
Injective Token (INJ) is the native utility token of the Injective Protocol. INJ tokens can be used to pay for fees on the exchange, stake to earn rewards, and participate in governance. With a circulating supply of 80,005,555 INJ coins and a max. supply of ONLY 100,000,000 INJ coins, INJ is a coin that’s very scarce. Injective’s ecosystem consists of more than 100 projects and more than 350,000 community members worldwide. A number of well-known investors, including Binance, Pantera Capital, Jump Crypto, and Mark Cuban, support Injective.
Injective Token should be on your investing radar in 2023 for the following three reasons. The Injective Protocol, for starters, is a novel and forward-thinking idea that has the potential to upend the derivatives market. Second, the INJ token has a compelling use case and is supported by a sizable user base with a clear roadmap. Third, the Injective Protocol has a robust development team and is well-funded.
Some of the key features of the Injective Protocol:
Scalability: The scalable and adaptable Cosmos SDK serves as the foundation for the Injective Protocol. As a result, the Injective Protocol can process several transactions without experiencing performance issues.
Protocol Fee Value Capture: To maintain the deflationary character of INJ, 60% of all fees collected by dApps are entered into an on-chain buy-back-and-burn auction. According to the website, 5,689,125 INJ is Burned.
Protocol Management: Every element of Injective, including chain upgrades, is governed by the INJ token. The Injective community has actively participated in governance from the mainnet’s introduction, with each proposal being approved by a DAO governance vote. You may access the detailed governance page here.
Developer Rewards: 40% of user fees on dApps developed on Injective go directly toward rewarding new developers who build on the platform, resulting in an ongoing flow of developers to Injective.
The Injective Protocol is constantly being improved since it has the potential to dominate the derivatives industry. Injective Token is a wonderful alternative to take into consideration if you’re looking for a cryptocurrency with a substantial use case and a promising future.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.
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