INJ Injective
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Frequently Asked Questions
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Key Use Cases of Injective
- Governance: Injective (INJ) serves as a governance token, allowing holders to vote on network proposals, ensuring that decisions are made in a decentralized manner reflecting the collective interests of the Injective community.
- Proof of Stake Security: INJ is used to secure the Injective blockchain through a proof-of-stake mechanism, where validators and delegators participate in staking to ensure the network's security and integrity.
- Exchange dApps Incentives: INJ is used to incentivize developers building on the platform by allocating a portion of trading fees generated by users on dApps built on Injective.
- Collateral Backing for Derivatives: INJ can be used as collateral for Injective's derivatives markets, providing a decentralized and permissionless way to engage in derivatives trading.
- Deflationary Mechanism: 60% of the exchange fees are auctioned for INJ and then burned, reducing the total supply of INJ over time and helping maintain the token's value and scarcity.
- Staking: INJ holders can earn passive income by staking their tokens, contributing to the platform's security and decentralization.
- Transaction Fees: INJ is used to pay for transaction fees on the platform, ensuring that the network remains secure and efficient.
Last Updated: 11/26/2024 21:06 UTC -
Advantages of Injective
- High-Speed, Low-Cost Transactions: Injective boasts an impressive capability of up to 10,000 transactions per second (TPS), coupled with minimal gas fees. This efficiency positions it as a powerful player capable of handling substantial volume without burdening users with high costs.
- Robust Support Network: Backed by heavyweight investors like Binance Labs, Pantera Capital, and entrepreneur Mark Cuban, Injective is well-equipped with the capital and connections necessary to thrive.
- Strong Interconnectivity: Injective Protocol enhances its appeal and utility with its capacity for cross-chain trading. Compatible with major blockchain networks like Ethereum, Cosmos, and Solana, it enables fluid asset trading across these diverse platforms.
- Deflationary Tokenomics: The deflationary nature of Injective’s native utility token, INJ, enhances its economic attractiveness. The token's burn mechanism, where a part of the collected fees is regularly destroyed, leads to a decreasing supply, potentially increasing the token's value over time.
- Developer-Friendly Platform: Injective provides a developer-friendly environment with tools, documentation, and support for developers looking to build dApps on the platform.
Disadvantages of Injective
- Complexity and Learning Curve: The intricacy of Injective's modular design and architecture poses a steep learning curve, particularly for developers who are more attuned to conventional blockchain models.
- Interoperability and Integration Complexities: Implementing cross-chain functionalities can be fraught with complexities, restricting Injective's capacity to seamlessly integrate with existing systems and applications.
- Low Number of Validators: The low number of validators on the network can impact the security and decentralization of the platform.
- High Competition Pressure: Injective faces intense competition in the DeFi market, making it challenging to distinguish itself amidst a sea of competitors.
- Volatility in Token Prices: The price of INJ tokens can be volatile, which may affect investor confidence and the overall stability of the platform.
Last Updated: 11/26/2024 21:07 UTC -
Founders of Injective
The founders of Injective are Eric Chen and Albert Chin.
- Eric Chen: Co-founder and CEO of Injective, with a background in finance, risk analysis, and algorithmic trading. He attended New York University, where he obtained a Bachelor of Science and a Bachelor's degree in Finance.
- Albert Chin: Co-founder of Injective, previously worked as a Software Development Engineer at Amazon after earning a master's degree in computer science from Stanford University.
Last Updated: 11/26/2024 21:07 UTC -
Investors in Injective
Injective is backed by several prominent investors, including:
- QCP Soteria: A leading investment firm in the crypto space.
- Mark Cuban: A well-known entrepreneur and investor.
- Pantera Capital: A prominent venture capital firm focused on blockchain and cryptocurrency investments.
- Blocktower Capital: A leading investment firm specializing in crypto and blockchain.
- Krypital Group: An investment group focused on crypto and blockchain projects.
- Bitscale Capital: An investment firm active in the crypto and blockchain sectors.
- Jump Crypto: A leading crypto investment firm.
- Binance Labs: The venture arm of Binance, one of the largest cryptocurrency exchanges.
Last Updated: 11/26/2024 21:07 UTC -
No, Injective is not considered halal by some Islamic scholars due to its connection to derivatives, which can involve excessive uncertainty (Gharar) and speculation, violating Shariah principles.
Last Updated: 11/26/2024 21:08 UTC
Description
#88
Injective is a layer 1 blockchain that enables fast, secure, and decentralized financial applications. Injective supports smart contracts, interoperability, and customized DeFi solutions backed by a global DAO.
Sector: | |
Blockchain: |
Launch Year 2020
Proof of Stake Consensus
Market Data
Rank: | 88 |
Volume: | 94M |
Marketcap: | 938M |
Fully Diluted Value: | N/A |
Circulating Supply: | N/A |
4.2M | 125K/163K | |
4.1M | 199K/250K | |
3.5M | 639K/983K | |
2.3M | 89K/112K | |
2.3M | 16K/30K | |
2.2M | 89K/97K | |
1.8M | 79K/115K | |
893K | 407K/480K | |
854K | 58K/66K | |
421K | 91K/105K | |
412K | 10K/11K | |
347K | 56K/60K | |
330K | 737K/748K | |
168K | 68K/63K | |
106K | 22K/86K | |
48K | 13K/13K | |
18K | 9.4K/11K | |
14K | 4K/4K | |
12K | 7K/7K | |
6.3K | 746/1.6K | |
4.1K | 1.4K/1.3K | |
2.3K | 1.4K/1.4K | |
721 | 3.5K/15K |