Injective (INJ)

Injective is currently trading at $1.5223, after a price change of 4.98% in the last 24 hours.

Ranked as cryptocurrency #171 by capitalization today, INJ market cap is valued at $111,132,770. INJ trading volume reached $15,497,425 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on INJ coin price prediction page.

What is Injective Protocol?

Injective Protocol is a decentralized layer-two exchange focusing on derivatives. The network is developed upon Tendermint, which applies the proof-of-stake algorithm and Cosmos-SDK. Injective architecture is comprised of Injective Chain, Injective Exchange Service, and Injective Bridge.

An injective chain is a second layer sidechain and Cosmos network linked to Ethereum. The platform has the aspects of a DEX like order book liquidity and front and back-end configuration. The chain facilitates transactions across other networks like Ethereum and BSC. The Injective Protocol comprises modules like insurance, Oracle, Peggy, exchange, and auction modules.

The network is developed to power DeFi applications suited for the Ethereum ecosystem. The apps have speeds of less than two seconds, block times, and over 10,000 transactions per second. The Injective Client is an open-source graphical interface that allows interaction with the Protocol in a permissionless process.

INJ is the native token at Injective. There are 43,655,553.33 INJ tokens and a hard cap of 100,000,000. The tokens power staking, yield farming, and governance. 60% of the settlement fees are used to purchase the INJ token and destroyed every fortnight as a deflationary measure.

Eric Chen and Albert Chon are the founders of Injective Protocol, which debuted in 2018.