Injective Protocol

What is the token?

• Injective Protocol (INJ) is a blockchain built for finance, focusing on DeFi applications like exchanges, prediction markets, and lending protocols.

• The INJ token governs all components of Injective, enabling multi-chain smart contract transactions.

Tokenomics

• The maximum supply of INJ is 100,000,000, with 88,000,000 INJ already in circulation.

• Injective Protocol features a deflationary token supply, with 60% of fees used to buy back and burn INJ tokens weekly.

• The remaining 40% of fees incentivise developers to build on the Injective platform.

Market Data

As of today 03 December 2024, the price of Injective Protocol is ₹2,732.40 INR, with a 24-hour trading volume of 477840538.93 USD. The market capitalization for Injective Protocol is 3117078727.2USD. The circulating supply is 98848019.96 Injective Protocol, with the total supply also being 100000000 Injective Protocol.

Token Pros and Cons

Pros:

• Decentralisation ensures transactions and operations are transparent and less prone to manipulation.

• High liquidity and narrow spreads are achieved by allowing any participant to provide liquidity.

• Lower trading fees compared to some centralised exchanges.

• Users have the capability to create their own derivatives and trading instruments.

Cons:

• Potential security risks inherent to decentralised platforms.

• Injective’s limited history makes its long-term stability and success difficult to predict.

Why Should You Invest in the coin?

• The INJ token shows potential for recovery and hitting its all-time high in the next bull run.

• Cross-chain transactions and access to advanced decentralised markets could significantly increase the INJ token’s value as DeFi popularity grows globally.

USP of the coin

• Injective Protocol uniquely enables automatic smart contract execution, offering a powerful foundation for developers to innovate.

Problem the coin is solving

• Injective Protocol addresses scalability and usability issues in DeFi, offering zero gas fee trading and an advanced PoS consensus mechanism for easier navigation and familiar user interfaces.

Founder and Team Background

• Founded in 2018 by Eric Chen and Albert Chon, Injective Protocol is built on Ethereum with a layer-2 solution aimed at overcoming traditional DEX shortcomings.

• The platform offers low latency, high liquidity, and a trustless trading environment, with a focus on derivatives markets and a vision for a decentralised financial economy.

ICO Price

• INJ was priced at $0.40 at its launch in October 2020.

Risks Associated in Investing in the Coin

• Investing in INJ involves typical cryptocurrency risks such as market volatility and security challenges.

• The protocol’s relatively new status contributes to uncertainties regarding its long-term stability and success.

Whitepaper Insights

The Injective Protocol is a decentralised, cross-chain protocol built for finance. It is an open, interoperable layer-one blockchain that powers next-generation DeFi applications, including decentralised spot and derivatives exchanges, prediction markets, lending protocols, and more. The protocol is designed to be highly interoperable, allowing for multi-chain smart contract transactions to occur seamlessly.

The INJ token is the native utility and governance token for Injective. It plays an integral role in protocol security, market maker and relayer incentives, derivatives collateralisation, and more. The token governs every single component of Injective, allowing for a decentralised governance model.

Injective Protocol utilises a deflationary tokenomics model. Every week, 60% of all fees collected on Injective are used to buy back and burn INJ tokens, leading to an overall deflationary supply that makes the INJ token more scarce over time. The remaining 40% of the fees are used to incentivise developers to build on Injective, creating a positive feedback loop that benefits all participants in the ecosystem.

Injective Protocol seeks to solve a variety of issues that continue to plague developers in the blockchain space. It was built from the ground up to be easy to navigate for anyone, providing a familiar set of features and layouts to users. It also helps to reduce scalability concerns by introducing zero gas fee trading and leveraging an advanced PoS (Proof-of-Staking) consensus mechanism.

The Injective ecosystem includes 100+ projects and over 150,000 community members globally. It is backed by a group of prominent investors such as Binance, Pantera Capital, Jump Crypto, and Mark Cuban. The protocol is designed to be highly interoperable, allowing for multi-chain smart contract transactions to occur seamlessly.

In conclusion, Injective Protocol is a unique and innovative blockchain protocol that aims to revolutionise the DeFi space by providing a decentralised, interoperable, and scalable platform for next-generation DeFi applications.