This article is a complete guide on Injective Protocol (INJ). In fact, the INJ token price has increased by almost +50% within 90 days. Many skeptics believed this slight price change is building a bubble that’s about to explode and drop most gains. Let’s take a look at What is Injective Protocol and is it a good investment?
What is Injective Protocol? Should you buy INJ?
According to its website, Injective Protocol wants to be the first decentralized exchange that gives a price feed. This price feed builds a market while giving traders zero gas fees. Additionally, it describes itself as a completely decentralized derivatives exchange. Developers programmed it on Tendermint and the Cosmos SDK. The project wants to solve issues like high transaction fees, liquidity, and speed issue that users face on the current decentralized exchanges.
Let’s see how does it work. The platform uses both the Ethereum and Cosmos ecosystems by peg zones. With the help of this, it wants to create high-speed cross-chain trading support without gas fees. Injective plans to create a network that is trustless, censorship-resistant, openly valid, and front-running repellent. The Injective Chain is the blockchain that receives a totally decentralized order book and applies components from the Ethereum Virtual Machine (EVM). The platform also includes a bi-directional token platform, connecting it to the Ethereum ecosystem.
How Many Injective Protocol (INJ) Coins Are in Circulation?
The total supply of INJ tokens is 100,000,000. Right now, there are approximately 15,406,012 INJ tokens in circulation. According to the official INJ white paper, there is a significant expansion estimated to 7% at the launch of INJ tokens. Due to this, the nodes are incentivized to verify transactions. This inflation rate is slowly going to decline and touch 2%.
At the time of writing this, the INJ price today was sitting at USD 12.74. The 24-hour trading volume was USD 35,982,285. INJ enables users to engage in decentralized finance (DeFi) ecosystem. This gives users the ability to bring new changes and ideas.
Key Features of Injective Protocol (INJ)
- Injective can perform fast trading while charging zero gas fees. This is called Layer-2 decentralized derivatives trading.
- Injective gives a price feed that enables users to build and trade on any derivative market.
- It allows cross-chain trading.
- Injective’s network is administered by its decentralized community. In this, the new changes or modifications, ideas are all decided on a Decentralized Autonomous Organization (DAO) structure.
- It gives liquidity mining incentives
Where Can You Buy INJ Token?
INJ coin is available on many major exchanges. When purchasing a cryptocurrency from an exchange, it is always necessary to pick a reliable one. In fact, we recommend using Binance to buy INJ.
- Did you miss Solana Airdrop? Catch Up with Injective Airdrop Big Season
- Top 5 Altcoins to BUY in May 2023 – Best Crypto Investments!
- Injective Price Prediction 2024: Is INJ Price Poised to Grow Massively in 2024?
- New Zealand Crypto Exchange Cryptopia Hacked
- Master Guide to Must-Know Airdrops in 2024: Your Path to Become a Crypto Millionnaire
- Top 5 BEST Performing Crypto – BIG Potential ahead?
- Injective (INJ) Price Prediction: INJ Coin Price UP, but can INJ Continue Higher to $50?
- Top 5 Altcoins to BUY in February 2021 – Best Cryptocurrency Investments
- Is This The Right Time To Invest in Polygon(MATIC)? All You Need To Know
- Top Oracle Projects In Crypto To Invest In For 2022
- This Crypto is Skyrocketing!: The Next Big Crypto Boom? Our 30-Day Analysis Reveals All!
- Top 5 Layer 2 Decentralized Exchanges
- Top 5 Cryptos Making Gains while the Crypto Market Consolidates
- For DeFi Users: How To Claim LOTTO Airdrop Worth Hundreds Of $!
- You Think You Know What Immutable X Is? Your Step by Step Guide to IMX Token
- Top LSDFi Projects To Watch Out For in 2024
- Top 5 Cryptocurrencies of the Week -Week 35
- Get Started with zkSync Era for Layer 2 Transactions
- Elevate Your Portfolio: Top 10 Ethereum Layer 2 Projects for 2023 Investments
- Kyber Protocol 3.0 To Introduce Complete Overhaul: Purpose-Driven Liquidity Protocols, Dynamic Market Making And Gas Optimizations
- How to participate in ThorChain Liquidity Pool (Rune) To Make Money?
You might also like
More from Altcoin
XRP's price climbs over $0.51 after significant whale transactions and hints of big news from a former Ripple executive, amidst …
The Shiba Inu price has experienced substantial losses in recent months, and the excitement that characterized 2021 has waned.