$1.61
24H %
0.62%
24H Low
$1.56
24H High
$1.62
DownloadIcon
TO

Linear
Log

About Injective Protocol

Sector

DeFi


Industry Group

Exchanges


Industry

Exchanges (Other)



The Injective Protocol price is $1.61, a change of 0.62% over the past 24 hours as of 4:13 p.m. The recent price action in Injective Protocol left the tokens market capitalization at $125,357,738.64. So far this year, Injective Protocol has a change of -81.25%. Injective Protocol is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS).


INJ is the native token of Injective Protocol, a blockchain protocol optimized for trading assets across different blockchains. It specializes in tokenized derivatives, including stock tokens – cryptocurrencies pegged to the price of stocks like Apple and Google.

INJ price

INJ was worth $0.77 when it launched in October 2020. The token rose to a high of $25.01 on April 30, 2021, just as the crypto market swelled to an all-time high. The token’s price was volatile for the rest of 2021 but trended downward. INJ slumped even further in May 2022, when it fell to lows of $1.55.

However, INJ’s deflationary measure (more on that later) meant that its market cap peaked in November 2021 at $590 million, up from its April peak of $521 million – even though its price wasn’t as high.

INJ’s market cap sank to about $120 million when the token crashed in May 2022. So did Injective’s total valued locked (TVL), which cratered from highs of $182 million in February 2022 to $64 million in June 2022.

Injective launched the token with an initial supply of 100 million INJ tokens. It aims to increase these over time through block rewards – where new INJ tokens are issued to those that validate batches of transactions on its proof-of-stake side chain.

At launch, Injective targeted the rate of annual inflation at 7%, and aims to decrease this to 2% “over time.” Injective also incorporated a deflationary measure to counteract rampant inflation. Every two weeks, the protocol sells 60% of the trading fees it accumulates for INJ, then burns that INJ to deflate the token’s total supply.

How does INJ work?

Injective is a layer 1, or base layer, protocol built on Cosmos, a blockchain network that rivals Ethereum. Unlike Ethereum, Cosmos protocols run on independent blockchains with their own set of validators. The blockchain powers a decentralized exchange that offers perpetual swaps – a futures contract that never expires – futures and spot trading, among other services. Trading fees are at least 0.1% for makers and 0.2% for takers.

Injective’s consensus mechanism relies on Tendermint, a Byzantine-Fault Tolerant algorithm that works even if a third of validators turn malicious.

Injective is also compatible with the Inter-Blockchain Communication (IBC) protocol. This allows Injective to communicate with other IBC-compatible chains. An Ethereum token bridge lets holders of ERC-20 tokens trade their holdings on Injective.

INJ is the platform’s governance token. Holders can vote on how the protocol is run; proposals can, for instance, alter the parameters of its decentralized exchange module, decide on new market listings and upgrade the protocol’s software.

The token was initially released as an ERC-20 token. However, after the launch of its mainnet on Cosmos, holders can use the platform’s Ethereum bridge to swap the tokens for native INJ coins.

Key events and governance

Injective was created by Injective Labs, founded in 2018 by Eric Chen, a computer science dropout in his early 20s.

Injective counts billionaire entrepreneur and “Shark Tank” panelist Mark Cuban among investors, as well as Binance Labs, AU21 Capital and Pantera Capital. The investors participated in a $10 million funding found in April 2021 that valued the protocol at $1 billion.

Injective Protocol launched its mainnet in November 2021, alongside a $120 million protocol incentive program called Astro.

In October 2021, Injective released a front-end interface called Injective Pro. It restricts U.S. users to comply with Commodity Futures Trading Commission guidelines. However, its back end is permissionless, meaning that U.S. traders can still use the protocol.

In May 2022, Injective partnered with cross-chain bridge Wormhole to add 10 new blockchains to its protocol, including Solana, Avalanche and Polygon.


Previously Aired
CDTV logo

ETC Group CEO Bradley Duke shares his markets analysis as bitcoin (BTC) is dipping below the $17,000 level. Plus, in a letter to customers on Wednesday morning, Genesis interim CEO Derar Islim said resolution of his company’s lending unit’s withdrawal freeze is likely to be a matter of “weeks” rather than days. CoinDesk is the sister company of Genesis. And, Fitch Ratings Senior Director Monsur Hussain joins the conversation.

$125.36M

$12.18M


Injective Protocol Price

24H Open
$1.60
24H Change
$0.00995398
52 Week Low
$1.12
52 Week High
$9.87
All Time High
$3.02
Returns (YTD)
-81.25%

Injective Protocol Market Stats

Total Supply
78.01M
Max Supply
N/A
24H Value Transacted
N/A
30D Volatility
1.81
24H Transaction Count
N/A
24H Average Transaction Fee
N/A

About Injective Protocol

Sector

DeFi


Industry Group

Exchanges


Industry

Exchanges (Other)



The Injective Protocol price is $1.61, a change of 0.62% over the past 24 hours as of 4:13 p.m. The recent price action in Injective Protocol left the tokens market capitalization at $125,357,738.64. So far this year, Injective Protocol has a change of -81.25%. Injective Protocol is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS).


INJ is the native token of Injective Protocol, a blockchain protocol optimized for trading assets across different blockchains. It specializes in tokenized derivatives, including stock tokens – cryptocurrencies pegged to the price of stocks like Apple and Google.

INJ price

INJ was worth $0.77 when it launched in October 2020. The token rose to a high of $25.01 on April 30, 2021, just as the crypto market swelled to an all-time high. The token’s price was volatile for the rest of 2021 but trended downward. INJ slumped even further in May 2022, when it fell to lows of $1.55.

However, INJ’s deflationary measure (more on that later) meant that its market cap peaked in November 2021 at $590 million, up from its April peak of $521 million – even though its price wasn’t as high.

INJ’s market cap sank to about $120 million when the token crashed in May 2022. So did Injective’s total valued locked (TVL), which cratered from highs of $182 million in February 2022 to $64 million in June 2022.

Injective launched the token with an initial supply of 100 million INJ tokens. It aims to increase these over time through block rewards – where new INJ tokens are issued to those that validate batches of transactions on its proof-of-stake side chain.

At launch, Injective targeted the rate of annual inflation at 7%, and aims to decrease this to 2% “over time.” Injective also incorporated a deflationary measure to counteract rampant inflation. Every two weeks, the protocol sells 60% of the trading fees it accumulates for INJ, then burns that INJ to deflate the token’s total supply.

How does INJ work?

Injective is a layer 1, or base layer, protocol built on Cosmos, a blockchain network that rivals Ethereum. Unlike Ethereum, Cosmos protocols run on independent blockchains with their own set of validators. The blockchain powers a decentralized exchange that offers perpetual swaps – a futures contract that never expires – futures and spot trading, among other services. Trading fees are at least 0.1% for makers and 0.2% for takers.

Injective’s consensus mechanism relies on Tendermint, a Byzantine-Fault Tolerant algorithm that works even if a third of validators turn malicious.

Injective is also compatible with the Inter-Blockchain Communication (IBC) protocol. This allows Injective to communicate with other IBC-compatible chains. An Ethereum token bridge lets holders of ERC-20 tokens trade their holdings on Injective.

INJ is the platform’s governance token. Holders can vote on how the protocol is run; proposals can, for instance, alter the parameters of its decentralized exchange module, decide on new market listings and upgrade the protocol’s software.

The token was initially released as an ERC-20 token. However, after the launch of its mainnet on Cosmos, holders can use the platform’s Ethereum bridge to swap the tokens for native INJ coins.

Key events and governance

Injective was created by Injective Labs, founded in 2018 by Eric Chen, a computer science dropout in his early 20s.

Injective counts billionaire entrepreneur and “Shark Tank” panelist Mark Cuban among investors, as well as Binance Labs, AU21 Capital and Pantera Capital. The investors participated in a $10 million funding found in April 2021 that valued the protocol at $1 billion.

Injective Protocol launched its mainnet in November 2021, alongside a $120 million protocol incentive program called Astro.

In October 2021, Injective released a front-end interface called Injective Pro. It restricts U.S. users to comply with Commodity Futures Trading Commission guidelines. However, its back end is permissionless, meaning that U.S. traders can still use the protocol.

In May 2022, Injective partnered with cross-chain bridge Wormhole to add 10 new blockchains to its protocol, including Solana, Avalanche and Polygon.


Market Analysis
Social Analysis

Trending Assets

Bitcoin Calculator

Last Updated on 12/08/22 4:13 PM

CoinDesk’s Bitcoin and Cryptocurrency Calculator determines the exchange rates between major fiat currencies and cryptocurrencies – including BTC, BCH, ETH and XRP to USD, EUR, GBP, IDR and NGN – with up to six decimal places of accuracy. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.


Latest About Injective Protocol

CoinDesk - Unknown
DeFi Risk-Sharing Protocol Nexus Expects Loss on Maple Credit Pool Investment as FTX Contagion Widens

Nexus Mutual, which offers an insurance alternative for decentralized finance traders, deposited some $19 million in ETH to Maple’s wrapped ether credit pool, which was rocked by Orthogonal Trading’s recent default.

CoinDesk - Unknown
CoinDesk - Unknown
DeFi Protocol Ankr to Reimburse Users Affected by $5M Exploit

The attacker was able to mint 6 quadrillion aBNBc tokens, which was eventually turned into roughly 5 million USDC.

CoinDesk - Unknown
CoinDesk - Unknown
DeFi Lender Compound Tightens Borrowing Limits After Aave Exploit Attempt

A passed proposal introduces borrowing caps for five cryptocurrencies and sets stricter loan limits for another five.

CoinDesk - Unknown

Disclaimer
Any data, text or other content on this page is provided as general market information and not as investment advice. Past performance is not necessarily an indicator of future results. CoinDesk is an independently managed media company, wholly owned by the Digital Currency Group, which invests in cryptocurrencies and blockchain startups. DCG has no operational input into the selection or duration of CoinDesk content in all its forms.