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About INJ
Injective is a layer-2 solution that boasts of being able to provide traders with “unparalleled access to new decentralized markets,” according to the project’s blog.
Launched in 2021, backed by Mark Cuban, the protocol allows for the permission-less replication of just about any financial market. “Options, futures, synthetics, betting dApps, or any other instrument that can leverage Injective’s matching engine, can be built on top of the chain,” Messari said.
INJ is the protocol’s native currency used for governance, CoinGecko said.
It also helps to secure the network via validator staking. Some 10% of the tokens’ total supply (10 million INJ) was initially released upon launch.
Built with the Cosmos SDK toolkit, the Injective chain facilitates the creation of cross-chain markets, and does so with “zero gas fees, massive throughput, and instant finality thanks to the protocol’s unique technical infrastructure,” Messari said.
Unlike popular DEXs, Injective utilizes a decentralized order book model and provides trading services via its own execution layer. According to Messari, this framework allows other third-party exchanges to freely build on Injective.
In February of 2022, INJ spiked 100% upon the release of Injective Bridge V2, an updated “bridge” service designed to facilitate cross-chain interoperability between Cosmos and Ethereum, said Cointelegraph.
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