Injective Protocol on BNB Chain

Introducing Injective Protocol (INJ): A New Arrival on the BNB Chain

Welcome to the detailed profile of Injective Protocol (INJ), the latest addition to the BNB Chain. As an exciting new cryptocurrency token, Injective Protocol (INJ) was launched with the intent to join the thriving BNB Chain ecosystem.

This token operates on the BNB Chain, an infrastructure that supports the creation and execution of decentralized applications (dApps) and allows users to transact in digital currencies seamlessly and securely.

At NewCoinHub, we provide up-to-date and comprehensive data about Injective Protocol (INJ) including its current price, trading volume, liquidity status, and the number of holders. We also supply the official smart contract address, crucial for those interested in further exploration or investment.

Please note that the world of cryptocurrency can be volatile and unpredictable. We encourage all visitors to perform their own due diligence and research when considering investments. For the most accurate and recent data, continue to refer to this page, as we strive to update our information in real-time.

Read on to learn more about Injective Protocol (INJ) and find answers to some frequently asked questions.

Token description

To find out even more about this project, check out our deep dive of [Injective](https://coinmarketcap.com/alexandria/article/what-is-injective-protocol-inj-features-tokenomics-and-price-prediction). # About Injective ## What Is Injective (INJ)? Injective is the first and only blockchain built for finance. It is an open, interoperable layer-one blockchain powering next-generation finance applications, including DeFi, RWAs, AI, decentralized exchanges, prediction markets, lending protocols, and more. Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain orderbook. Developers can utilize Injective’s plug-and-play modules to rapidly deploy applications that could take years on other chains. Injective is also one of the most interoperable L1s ever created which is fully compatible with major chains such as Ethereum and Solana. Injective also provides a next-generation, highly interoperable smart contract platform based on Wasm 2.0, with advanced interchain capabilities. Injective utilizes a custom implementation of the Tendermint Proof-of-Stake consensus mechanism, providing instant transaction finality with lightning speed – sub second block times (0.6s) while sustaining enormous throughput (25,000+ TPS). Injective currently is also leading new forms of innovation across a number of verticals such as its pioneering work to integrate artificial intelligence with on-chain finance. Injective has achieved a historic milestone of over 1 billion transactions to date with one of the fastest chains built to date. The Injective ecosystem includes 100+ projects and over 500,000 community members globally. Injective was originally incubated by Binance and is also backed by a group of prominent investors including Pantera Capital, Jump Crypto, and Mark Cuban. ## How Does Injective Work? Injective comprises four principal components: * Injective Chain nodes * Injective's bridge smart contracts and orchestrator * Injective API nodes * Injective dApps and tooling **Injective Chain** The Injective Chain is a public blockchain network custom-built to support the next generation of on-chain finance applications. Injective utilizes a custom implementation of Tendermint consensus, and the core protocol logic is implemented through native modules and smart contracts on the Wasm smart contract layer. Injective also has launched a new MultiVM initiative to bring new virtual machines to its platform to enable any developer to build on Injective. **Injective's Bridge Smart Contracts and Orchestrator** Injective provides a decentralized cross-chain bridging infrastructure with over 23 different networks, including prominent chains like Ethereum and Solana. Injective’s Ethereum bridge is decentralized and secured by the validators of the Injective chain – powered by Injective’s custom peggy bridge system. Additionally, as an IBC-enabled blockchain, Injective supports cross-chain bridging with any other IBC-enabled blockchain, allowing developers and users to access assets from hundreds of other blockchains. **Injective API** The Injective API offers two primary ways to interact with Injective, the Chain API and the Indexer API. Both APIs offer distinct capabilities. The Chain API is ideal for direct chain interaction, while the Indexer API provides enhanced data accessibility and user-friendly services for dApps. **Injective dApps and Tooling** Injective is a decentralized network allowing individuals to access both the blockchain and dApps built on-chain in a permissionless manner. A multitude of innovative dApps are currently live and surging in usage on Injective ranging from decentralized exchanges to real world asset (RWA) platforms. In fact, Helix which is Injective’s leading DEX has already processed over $40 Billion to date. Beyond this, Injective also powers several other decentralized applications, including dApps for perpetuals, AI, prediction markets, options and more. ## Unique Features of Injective **Dynamic Smart Contracts**: Utilize a next-generation CosmWasm smart contract layer capable of autonomous logic execution to ship truly decentralized applications with a flexible development suite powered by Rust. **Novel Web3 Modules**: Access the premier plug-and-play Web3 modules to rapidly iterate a diverse array of groundbreaking dApps on the first sector-specific chain specialized for financial applications such as trading, lending, savings, and more. **Unprecedented Interoperability**: Ship dApps that can natively access all of the most popular assets, bridges, oracles, and wallets. Injective is one of the most interoperable networks in existence with connections to leading blockchains such as Ethereum, Cosmos and Solana while also being IBC-enabled. Robust Liquidity: Onboard users into your applications with broad liquidity support from day one to maximize capital efficiency. Injective offers a shared liquidity environment that is supported by a thriving community and integrated with the most prominent financial institutions. **Tailored For DeFi**: Leverage the only layer one protocol optimized for building DeFi apps that can reach the next billion users in Web3. Injective is the first MEV resistant L1 with blazing fast transaction speeds, instant transaction finality and near zero fees. **Highly Secure**: Deploy on a Tendermint-based PoS network secured by a globally distributed group of renowned validators and trusted by leading institutions worldwide. ## Contributors to Injective Injective Labs is one of the contributors to Injective, the blockchain built for finance. Eric Chen is the CEO and Co-founder of Injective Labs, a research and development company. Eric’s passion for crypto and blockchain started with mining Ethereum and participating in cryptographic research in college while studying finance and computer science. After working at a major crypto hedge fund, he decided to drop out of college and founded Injective Labs together with Albert Chon (CTO). ## Use Cases of INJ Token INJ is the native utility and governance token of Injective. INJ is a scarce asset that is used for governance, token burn auctions and staking on the PoS network. The burn auctions on Injective are especially unique since 60% of all fees collected from dApps are auctioned off every week via a buy back and burn mechanism. This in turn allows the supply of INJ to dramatically decrease over time. The INJ burn auction is unique in that it helps accrue value for the entire Injective ecosystem. Currently, Injective has the highest token burn ratio in the industry. The use cases intended for INJ include but are not limited to: protocol governance, dApp value capture, Proof-of-Stake (PoS) security, developer incentives and staking. Further details regarding each of these use cases can be found below. * Protocol Governance: The INJ token governs every single component of Injective, including chain upgrades. Since its mainnet launch, the Injective community has actively contributed to governance, with all proposals passing through a DAO governance vote. The comprehensive governance page is available here. * Protocol Fee Value Capture: 60% of all fees generated from dApps enter an on-chain buy-back-and-burn auction to maintain the deflationary nature of INJ. The burn auction page is available here. * Tendermint-based Proof-of-Stake (PoS) Security: INJ is used to secure the Injective blockchain using a proof-of-stake mechanism. Validators and delegators can both participate in staking. * Developer Incentives: 40% of fees generated by users on dApps built on Injective go directly towards incentivizing new developers building on Injective which brings an ever growing funnel of builders to Injective.