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  • INJ Injective

    $9.91

    -3.91%

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    Frequently Asked Questions

    • 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

    #91

    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: Perpetuals
    Blockchain: Other L1

    Market Data

    Rank: 91
    Volume: 68M
    Marketcap: 1B
    Fully Diluted Value: N/A
    Circulating Supply: N/A
    4.5M 278K/260K
    4.1M 86K/129K
    4M 812K/959K
    2.3M 21K/29K
    2.1M 103K/134K
    2M 118K/137K
    1.9M 310K/283K
    601K 52K/85K
    574K 793K/828K
    427K 122K/154K
    258K 8.1K/9.7K
    254K 50K/84K
    112K 13K/13K
    31K 118K/112K
    23K 13K/12K
    21K 310/55K
    20K 4.2K/4.2K
    19K 7.2K/7.1K
    15K 2.6K/3.3K
    6K 1.6K/1.6K
    3.6K 800/1.6K