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Injective Protocol (INJ) Things You Need To Know Before Investing

What Is Injective Protocol (INJ)?

Injective Protocol (INJ) enables access to unlimited decentralized finance markets. Users can create any financial market on Injective’s fast, cross-chain, zero gas fee, secure, and fully decentralized exchange protocol.

The Injective Chain is custom-built to support Ethereum-compatible DeFi applications that reach instant finality, sub 2 second block times, and lightning-fast transaction speeds (10,000+ TPS). 

The trading infrastructure of Injective is supported entirely by a central limit order book that integrates the user-friendly interface and speed of centralized exchanges with the transparency of decentralized exchanges. Injective unique decentralized ordebrook exchange protocol can support cross-chain trading of crypto, perpetual, futures, synthetics, and exotic assets across distinct blockchains such as Ethereum, BSC, and Cosmos.

The Injective ecosystem includes 100+ projects and over 200K+ community members from around the globe. Injective is backed by prominent investors such as Binance, Pantera Capital, and Mark Cuban.

What is the Injective Token (INJ)?

INJ is the native token of Injective Protocol. INJ is a scarce asset used for governance, exchange value capture, liquidity mining, and staking. 60% of all exchange fees are used to buy back and burn INJ every two weeks, which allows the supply of INJ to decrease over time dramatically. In addition, transactions on Injective Protocol brought by new Injective ecosystem projects also help burn more INJ.

Who Are the Founders of Injective Labs?

Injection Labs is the research and development company that first began contributing to the Injective Protocol.

Eric Chen is the co-founder of Injective Labs. Before founding Injective, he worked as a cryptographic researcher and trader at a major crypto fund. He led innovative market neutral trading efforts in the blockchain space and investments in prominent companies such as 0x, ChainLink, and Cosmos. Chen has extensive knowledge about blockchain protocols and traditional finance and a native understanding of both eastern and western blockchain-based protocols and communities.

Albert Chon is the CTO of Injective Labs. He graduated with a Bachelor’s and Master’s degree in computer science from Stanford University and was a software development engineer at Amazon. He is well known for pioneering a new Ethereum standard used by many major projects today and co-founded Injective Labs with Eric Chen.

What Makes Injective Protocol Unique?

Injective enables anyone to access, create, and trade unlimited DeFi markets. This means crypto, futures, perpetual, and sophisticated financial derivatives can all be traded on Injective entirely decentralized. Trades are lightning-fast, achieve instant finality, and cost zero gas fees. Users on Injective can seamlessly trade across distinct blockchain networks such as Ethereum, Cosmos, and Binance Smart Chain. Injective is also able to facilitate trades across Cosmos-based projects such as Terra.

Injective is the first custom interoperable protocol built for decentralized finance applications. Anyone can create new cross-chain DApps using Ethereum-based tooling, fast transaction times, and instant finality while receiving unparalleled developer incentives.

The native Ethereum-compatibility allows developers to leverage existing Ethereum tooling to supercharge their DApps. Anyone can run DeFi applications across parallel chains to reach millions of users with infinite scalability.

How Is the Injective Protocol Network Secured?

The Injective Protocol blockchain operates on a Tendermint-based proof-of-stake (PoS) consensus mechanism. Prominent validators help secure the network while making it more decentralized.

Injective’s consensus mechanism achieves instant transaction finality while leading to a 99% lower carbon footprint.

Where Can You Buy Injective Protocol (INJ)?

Injective Protocol (INJ) tokens are available on most major exchanges. Binance has the highest INJ/USD trading volume at $12,687,084. This is the most popular exchange for purchasing INJ.

Other good options include Bilaxy, Huobi Global, and Uniswap. It is important to note that buying cryptocurrency comes with risk, just like traditional investing.

Also Read: Illuvium (ILV) Things You Need To Know Before Investing

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