What is Injective? What it is and how it works?

Do you know anything about Injective (INJ) – one of the potential projects in the DeFi (Decentralized Finance) sector? Recently, DeFi has become the hottest trend in the cryptocurrency market, and INJ is no exception.

However, do you really understand this project and how it works? In this article, AZCoin will help you learn more about the Injective project and the related information!

What is Injective (INJ)?

Injective is a decentralized exchange (DEX) platform built on the Ethereum blockchain. What is special about Injective is that it is designed to address the current issues of decentralized exchanges, such as slow speeds, security risks, and unfair balance between buyers and sellers. With this platform, anyone can participate in creating and executing decentralized trades in a transparent and fair manner.

Injective development team, investors and project partners

Development team

• Eric Chen (CEO & Co-founder): He previously served as a Researcher at Innovating Capital, Product Manager at Splash, and studied at NYU Stern School of Business.
• Albert Chon (CTO & Co-founder): He graduated with a Bachelor’s and Master’s degree in Computer Science from Stanford University, has work experience at Amazon, and participated in auditing at Open Zeppelin.

Investors

Injective has attracted the attention of many major investors, including Binance Labs, Pantera Capital, 4SV, and numerous individual investors. With the support and investment from these major investors, the project can develop and scale sustainably.

Partner

Injective has also established key partnerships within the industry, including Chainlink, Elrond, and Multi.io. These partners will help Injective integrate the latest technologies and services, creating a robust and long-lasting DeFi ecosystem.

How does Injective work?

Injective is built on the Ethereum blockchain and utilizes the Proof-of-Stake (POS) protocol to facilitate decentralized transactions. This protocol allows the evaluation and confirmation of transactions through the staking of INJ tokens, ensuring transparency and safety for transactions on the Injective platform.

Every user can participate in creating and executing transactions on the Injective platform, using user-friendly utilities and tools. Additionally, the use of the POS protocol enables users to earn profits through staking INJ tokens.

Highlights of the Injective project

Similar to others, Injective also has its own notable features such as:

• High decentralization: By utilizing blockchain technology and the POS protocol, Injective ensures a high level of decentralization in transactions. This helps to avoid issues like control from third parties, security risks, and is essential for the development of DeFi.
• Transparency and fairness: Injective allows anyone to participate in creating and executing transactions in a transparent and fair manner. Transactions are confirmed and evaluated by the community, rather than being determined by a select few third parties.
• Scalability: Injective uses Layer 2 scaling solutions, providing high scalability with fast transaction speeds and low fees. Consequently, users can execute transactions efficiently without worrying about high fees or slow processing times.

Detailed information about INJ coin

What is the INJ token?

INJ is the official token of the Injective platform. It is used to execute transactions, maintain the transparency and security of the platform, as well as reward users through staking. The INJ token is built on the Ethereum ERC-20 standard, allowing it to be stored and traded on wallets compatible with ERC-20.

INJ Token Key Metric

• Token Name: INJ Token.
• Ticker: INJ.
• Blockchain: Ethereum.
• Token Standard: ERC-20.
• Contract: 0xe28b3b32b6c345a34ff64674606124dd5aceca30
• Token type: Utility, Governance.
• Total Supply: 100,000,000 INJ

INJ Token Allocation

• Binance Launchpad Sale: 9%
• Seed Sale: 6%
• Private Sale: 16.67%
• Team: 20%
• Community: 10%
• Advisors: 2%
• Development: 36.33%

INJ Token Use Case

The INJ token has various applications on the Injective platform, including:

• Serving as transaction fees for executing trades on the platform.
• Used to reward users through staking.
• Acting as a representation of different currencies and assets when trading on the Injective platform.
• Used in the voting process and community decision-making.

Where to buy and sell INJ tokens?

Currently, the INJ token has been listed on several top best crypto exchanges such as Binance, Huobi Global, Gate.io, and Uniswap. Users can buy and sell INJ tokens directly on these exchanges using Bitcoin (BTC), Ethereum (ETH), or other tokens like Tether or BUSD.

Where can INJ coins be stored?

Since the INJ token is built on the Ethereum ERC-20 standard, it can be stored on wallets compatible with ERC-20 such as MyEtherWallet, Trust Wallet, or Ledger Nano S. Additionally, users can also store INJ tokens on exchanges that have listed them.

Should you invest in Injective or not?

With a diverse and experienced development team and partners, along with superior technology and features, Injective promises to be a promising project in the DeFi sector. However, investing always comes with risks and requires careful consideration. If you are interested in this project, do your own research and further investigate before making any investment decisions.

The end

In conclusion, Injective (INJ) is a promising project that has caught the attention of the crypto community, aiming to address current issues in decentralized exchanges. Hopefully, this article has helped you understand more about this project and provided you with additional information to make informed investment decisions. If you have any questions, feel free to contact AZcoin for quick clarification!