What is Injective (INJ)
Injective is a Layer 1 blockchain of the Cosmos ecosystem, built specifically for decentralised finance (DeFi) applications. It is designed to handle high transaction volumes with very low fees, in some cases close to zero, and provides ready-to-use modules that make it easier to develop on-chain financial applications.
INJ is the network’s native crypto-asset: it is used to pay fees, to take part in governance through the DAO and to secure the network through staking (with any rewards being variable and not guaranteed).
How it works and the economic model
Injective places great emphasis on interoperability: it is connected both to the Cosmos ecosystem (via the IBC protocol) and to networks such as Ethereum and Solana, so as to move assets between different chains. This makes it a foundation on which to build DeFi markets and applications.
A distinctive element is the buy-back-and-burn mechanism: periodically a share of the fees generated by the network’s applications is used to repurchase and “burn” INJ tokens, reducing the circulating supply and countering inflation. This is a feature of the protocol, not a guarantee on value.
How it began
Injective was founded in 2018 by Eric Chen and Albert Chon, initially with the goal of creating an advanced decentralised exchange; the project later evolved into a Layer 1 blockchain hosting a wide range of applications. It raised over 190 million dollars with backing from investors such as Pantera Capital and Jump Capital.
Development is led by Injective Labs together with a community active in the protocol’s governance.
Price trends and what to consider
Like all crypto-assets, INJ has shown a highly volatile price trend. Its quotations can be influenced by the general trend of the crypto market, by the growth of the application ecosystem and by investor sentiment.
Past performance is not a guarantee of future results.
Injective Market Data
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