Difference between revisions of "Injective Protocol (INJ)"

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*[https://cryptobriefing.com/defi-project-spotlight-injective-protocol/ From] [[Crypto Briefing]] (14-10-2020):
"''[https://injectiveprotocol.com/ Injective Protocol] is building an environment for builders to erect powerful [[DEXs|DEXes]] capable of derivatives products. Ethereum traders seeking a decentralized alternative to leaders like [[Uniswap]], plus more complex trading products, may find Injective's value proposition enticing.  Disclosure: One or more members of the Crypto Briefing Management team are investors in Injective Protocol."''
==Basics ==
==Basics ==
* Based in:
* Based in:
*Founded in: [https://research.binance.com/en/projects/injective-protocol 2018, Q3]
*Founded in: [https://research.binance.com/en/projects/injective-protocol 2018, Q3]
* Their main offering of a DEX is not live yet (19-10-2020), you can sign up on their [https://injectiveprotocol.com/ecosystem/ waitlist].
* Their main offering of a DEX is not live yet (19-10-2020), you can sign up on their [https://injectiveprotocol.com/ecosystem/ waitlist].
* Canary Chain release: 30-6-2021. Dubbed the "Canary Chain", Injective Protocol currently only supports the Peggy Bridge, [[Proof-of-Stake (PoS)|staking]], governance, the [[oracle]] module, and the insurance fund.  
* Canary Chain release: 30-6-2021. Dubbed the "Canary Chain", Injective Protocol currently only supports the Peggy [[Bridge]], [[Proof-of-Stake (PoS)|staking]], governance, the [[oracle]] module, and the insurance fund.  
*Mainnet Canary Chain: Spot Trading [https://blog.injectiveprotocol.com/mainnet-canary-chain-spot-trading-launch/ Launch] (28-7-2021).
*Mainnet Canary Chain: Spot Trading [https://blog.injectiveprotocol.com/mainnet-canary-chain-spot-trading-launch/ Launch] (28-7-2021).
*[[Mainnet]] release: [https://decrypt.co/86185/defi-derivatives-project-injective-protocol-launches-mainnet-120m-incentive-program?utm_source=telegram&utm_medium=social&utm_campaign=smt 17-11-2021]
*[[Mainnet]] release: [https://decrypt.co/86185/defi-derivatives-project-injective-protocol-launches-mainnet-120m-incentive-program?utm_source=telegram&utm_medium=social&utm_campaign=smt 17-11-2021]
* A [[Layer Two|L2]] [[decentralized]] [[derivatives]] exchange protocol incubated by [[Binance]] Labs.
* A [[Layer Two|L2]] [[decentralized]] [[derivatives]] exchange protocol incubated by [[Binance]] Labs.
* [https://cryptobriefing.com/defi-project-spotlight-injective-protocol/ From] [[Crypto Briefing]] (14-10-2020):
"''[https://injectiveprotocol.com/ Injective Protocol] is building an environment for builders to erect powerful [[DEXs|DEXes]] capable of derivatives products. Ethereum traders seeking a decentralized alternative to leaders like [[Uniswap]], plus more complex trading products, may find Injective's value proposition enticing.  Disclosure: One or more members of the Crypto Briefing Management team are investors in Injective Protocol."''
== History ==
== History ==
== Audits & Exploits ==
== Audits & Exploits ==
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{| class="jsx-540937487"
{| class="jsx-540937487"
|Binance Launchpad Sale
|Binance Launchpad Sale
|9.00% of the total token supply
|9.00% of the total [[token]] supply
|-
|-
|Seed Sale
|[[Seed]] Sale
|6.00% of the total token supply
|6.00% of the total token supply
|-
|-
Line 54: Line 53:


=== Utility ===
=== Utility ===
* [[Node]] operators earn fees for routing and matching orders.  
* [[Node]] operators [[earn]] [[fees]] for routing and matching orders.  
* [https://research.binance.com/en/projects/injective-protocolAccording According] (12-10-2020) to [[Binance]] Research: [[Governance]], exchange fee has buy-back-and-[[burn]] and [[staking]].
* [https://research.binance.com/en/projects/injective-protocolAccording According] (12-10-2020) to [[Binance]] Research: [[Governance]], exchange fee has buy-back-and-[[burn]] and [[staking]].
* More can be read in their [https://docs.injectiveprotocol.com/#token-economics tokenomics] section of their documents (19-10-2020).
* More can be read in their [https://docs.injectiveprotocol.com/#token-economics tokenomics] section of their documents (19-10-2020).
*[https://medium.com/citadel-one/injective-protocol-faq-bd4bbe64915b From] [[Paradigm|Citadel One]] (12-7-2021):
*[https://medium.com/citadel-one/injective-protocol-faq-bd4bbe64915b From] [[Paradigm|Citadel One]] (12-7-2021):


''"Protocol governance, Exchange fee value capture, Derivative collateralization, Liquidity mining, Staking."''
''"Protocol governance, Exchange fee value capture, Derivative collateralization, [[Liquidity]] [[mining]], Staking."''


=== Token Details ===
=== Token Details ===
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=== How it works ===
=== How it works ===
* [https://cryptobriefing.com/defi-project-spotlight-injective-protocol/ From] [[Crypto Briefing]] (14-10-2020):
* [https://cryptobriefing.com/defi-project-spotlight-injective-protocol/ From] [[Crypto Briefing]] (14-10-2020):
''"Injective’s architecture isn’t an automated market maker ([[AMM]]). Instead, it leverages a key feature from [[0x]] protocol and is order book-based. In the Injective environment, [[relayers]] are replaced by [[nodes]]. Node operators earn fees for routing and matching orders. And like 0x relayers, node operators could each be independent DEXes within a larger network."''
''"Injective’s architecture isn’t an automated market [[maker]] ([[AMM]]). Instead, it leverages a key feature from [[0x]] protocol and is order book-based. In the Injective environment, [[relayers]] are replaced by [[nodes]]. Node operators earn fees for routing and matching orders. And like 0x relayers, node operators could each be independent DEXes within a larger network."''
* Injective Protocol is [https://research.binance.com/en/projects/injective-protocol comprised] of four principal components (12-10-2020):
* Injective Protocol is [https://research.binance.com/en/projects/injective-protocol comprised] of four principal components (12-10-2020):
# ''"Injective Chain''
# ''"Injective Chain''
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=== Interoperability ===
=== Interoperability ===
* [https://research.binance.com/en/projects/injective-protocol From] Binance Research (12-10-2020):
* [https://research.binance.com/en/projects/injective-protocol From] Binance Research (12-10-2020):
"''The Injective Chain provides a two-way [[Ethereum]] peg-zone for ETH and [[ERC-20]] tokens to be transferred to the Injective Chain as well as an [[EVM]]-compatible execution environment for [[DeFi]] applications. The peg-zone is based on [https://blog.cosmos.network/the-internet-of-blockchains-how-cosmos-does-interoperability-starting-with-the-ethereum-peg-zone-8744d4d2bc3f Peggy] and the EVM execution is based on Ethermint."''
"''The Injective Chain provides a two-way [[Ethereum]] peg-zone for ETH and [[ERC-20]] [[tokens]] to be transferred to the Injective Chain as well as an [[EVM]]-compatible execution environment for [[DeFi]] applications. The peg-zone is based on [https://blog.cosmos.network/the-internet-of-blockchains-how-cosmos-does-interoperability-starting-with-the-ethereum-peg-zone-8744d4d2bc3f Peggy] and the EVM execution is based on [[Ethermint]]."''
* [https://medium.com/paradigm-fund/state-of-stake-vol-35-871ff5d42f2c From] [[State of Stake]] (29-10-2020):
* [https://medium.com/paradigm-fund/state-of-stake-vol-35-871ff5d42f2c From] [[State of Stake]] (29-10-2020):
"''Injective [https://medium.com/injective-labs/injective-integrates-with-polkadot-to-expand-its-decentralized-cross-chain-derivatives-trading-603afcda4bda integrates] with [[Polkadot]] to expand Injective’s decentralized [[cross-chain]] trading capabilities — it’s made possible by Moonbeam, which provides an Ethereum-compatible smart contract platform powered by Polkadot that makes it easy to build natively interoperable applications."''
"''Injective [https://medium.com/injective-labs/injective-integrates-with-polkadot-to-expand-its-decentralized-cross-chain-derivatives-trading-603afcda4bda integrates] with [[Polkadot]] to expand Injective’s decentralized [[cross-chain]] trading capabilities — it’s made possible by Moonbeam, which provides an Ethereum-compatible smart [[contract]] platform powered by Polkadot that makes it easy to build natively interoperable applications."''


* [https://medium.com/paradigm-fund/c%C3%B8smos-network-the-internet-of-blockchains-is-here-demystifying-ethermint-althea-testnet-1-a18e706efcec From] [[Paradigm]] (24-2-2021): "''Injective will [https://medium.com/avalancheavax/injective-is-integrating-with-avalanche-to-launch-a-diverse-array-of-interoperable-derivatives-43233b0b198f integrate] with the newly released [[Avalanche (AVAX)|Avalanche]]-[[Ethereum (ETH)|Ethereum]] Bridge (AEB) to create a two-way transfer zone between the Injective Chain and Avalanche."''
* [https://medium.com/paradigm-fund/c%C3%B8smos-network-the-internet-of-blockchains-is-here-demystifying-ethermint-althea-testnet-1-a18e706efcec From] [[Paradigm]] (24-2-2021): "''Injective will [https://medium.com/avalancheavax/injective-is-integrating-with-avalanche-to-launch-a-diverse-array-of-interoperable-derivatives-43233b0b198f integrate] with the newly released [[Avalanche (AVAX)|Avalanche]]-[[Ethereum (ETH)|Ethereum]] Bridge (AEB) to create a two-way transfer zone between the Injective Chain and Avalanche."''
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* ''Release of public [[testnet]] V1.''
* ''Release of public [[testnet]] V1.''
* ''Launch of Incentivized Testnet Trading Competition.''
* ''Launch of Incentivized Testnet Trading Competition.''
* ''Launch of ERC-20 token.''
* ''Launch of [[ERC-20 token]].''
''2021 Q1''
''2021 Q1''
* ''Release of public testnet V2.''
* ''Release of public testnet V2.''
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''2021 Q2''
''2021 Q2''
* ''Launch of [[mainnet]] V1.''
* ''Launch of [[mainnet]] V1.''
* ''Implemention of bridges to multiple [[blockchain]] networks.''
* ''Implemention of [[bridges]] to multiple [[blockchain]] networks.''
* ''Adding of [[liquidity mining]] (yield farming) and staking incentives.''
* ''Adding of [[liquidity mining]] ([[yield farming]]) and staking incentives.''
* ''Swapping of token, from ERC-20 to native chain.''
* ''Swapping of token, from ERC-20 to native chain.''
''2021 Q3''
''2021 Q3''
* ''Launch of 10+ perpetual swaps and expiry futures.''
* ''Launch of 10+ perpetual [[swaps]] and expiry [[futures]].''
* ''Launch of [[cross-chain]] yield generation.''
* ''Launch of [[cross-chain]] yield generation.''
''2021 Q4''
''2021 Q4''
* ''Launch of [[DAO]] governance for community governed listings and market creation.''
* ''Launch of [[DAO]] governance for community governed listings and market creation.''
* ''Launch of staking pools on insurance funds.''
* ''Launch of [[staking pools]] on insurance funds.''
''2022 Q1''
''2022 Q1''
* ''Launch of institutional exchange interface.''
* ''Launch of institutional exchange interface.''
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* Has [https://www.coindesk.com/pantera-capital-leads-2-6m-seed-round-for-dex-protocol-injective raised] $2.6 million in a seed funding round. Led by [[Pantera Capital]], the round also saw Asia-based [[QCP Soteria]], [[Axia8 Ventures]] and [[Boxone Ventures]], [[Bitlink Capital]] and others participate, Injective announced Wednesday.
* Has [https://www.coindesk.com/pantera-capital-leads-2-6m-seed-round-for-dex-protocol-injective raised] $2.6 million in a seed funding round. Led by [[Pantera Capital]], the round also saw Asia-based [[QCP Soteria]], [[Axia8 Ventures]] and [[Boxone Ventures]], [[Bitlink Capital]] and others participate, Injective announced Wednesday.
* "''One or more members of the [[Crypto Briefing]] Management team are investors in Injective Protocol."'' ([https://cryptobriefing.com/defi-project-spotlight-injective-protocol/ 14-10-2020)]
* "''One or more members of the [[Crypto Briefing]] Management team are investors in Injective Protocol."'' ([https://cryptobriefing.com/defi-project-spotlight-injective-protocol/ 14-10-2020)]
*[https://twitter.com/CryptoAccordBot/status/1384528330624577540 From] twitter (20-4-2021):
*[https://twitter.com/CryptoAccordBot/status/1384528330624577540 From] [[twitter]] (20-4-2021):


''"Injective Protocol has raised $10M during private fundraising round. @[[Mark Cuban|mcuban]], @PanteraCapital, @[[Blocktower Capital|BlockTower]], @[[Hashed (Company)|hashed_official]], @cmsholdings, and @QCPCapital, participated in the round. The tokens were sold with 1 year lockup period at a $1B+ valuation."''
''"Injective Protocol has raised $10M during private fundraising round. @[[Mark Cuban|mcuban]], @PanteraCapital, @[[Blocktower Capital|BlockTower]], @[[Hashed (Company)|hashed_official]], @cmsholdings, and @QCPCapital, participated in the round. The tokens were sold with 1 year lockup period at a $1B+ valuation."''
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* [[Kava]] [https://medium.com/paradigm-fund/c%C3%B8smos-network-ethermint-v0-1-0-released-cosmwasm-launched-gaiaflex-its-governance-permissioned-12dae452efe8 announced] (26-8-2020) the strategic cooperation with Injective Labs, creators of Injective Protocol. 
* [[Kava]] [https://medium.com/paradigm-fund/c%C3%B8smos-network-ethermint-v0-1-0-released-cosmwasm-launched-gaiaflex-its-governance-permissioned-12dae452efe8 announced] (26-8-2020) the strategic cooperation with Injective Labs, creators of Injective Protocol. 
* [https://research.binance.com/en/projects/injective-protocol According] to [[Binance]] Research (12-10-2020) it is partners with [[Elrond Gold (eGLD)|Elrond]], [[Findora]], [[Frontier]] and [[Wootrade]]. 
* [https://research.binance.com/en/projects/injective-protocol According] to [[Binance]] Research (12-10-2020) it is partners with [[Elrond Gold (eGLD)|Elrond]], [[Findora]], [[Frontier]] and [[Wootrade]]. 
* [https://medium.com/bandprotocol/injective-protocol-launches-world-first-decentralized-stock-futures-trading-in-partnership-with-da7b8ed7679a Partnered] with [[Terra (LUNA)|Terra]], [[Mirror Protocol (MIR)|Mirror Protocol]], and [[Band Protocol]] to access the $90 trillion stock market in a permissionless manner. They all have links [https://www.youtube.com/watch?v=3_x1npL-SSw going back] to [[Stanford University|Stanford]] (10-1-2021).
* [https://medium.com/bandprotocol/injective-protocol-launches-world-first-decentralized-stock-futures-trading-in-partnership-with-da7b8ed7679a Partnered] with [[Terra (LUNA)|Terra]], [[Mirror Protocol (MIR)|Mirror Protocol]], and [[Band Protocol]] to access the $90 trillion stock market in a [[permissionless]] manner. They all have links [https://www.youtube.com/watch?v=3_x1npL-SSw going back] to [[Stanford University|Stanford]] (10-1-2021).


==(:==
==(:==
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Making these free wiki pages is fun but takes a lot of effort and time.
Making these free wiki pages is fun but takes a lot of effort and time.


If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.
If you have enjoyed reading, tips are appreciated :) This will help us to [[keep]] expanding this archive of information.


[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
[[ETH]] tip [[address]]: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31
[[Category:Exchange]]
[[Category:Exchange]]
[[Category:Coins/Tokens]]
[[Category:Coins/Tokens]]

Revision as of 06:56, 14 March 2022

"Injective Protocol is building an environment for builders to erect powerful DEXes capable of derivatives products. Ethereum traders seeking a decentralized alternative to leaders like Uniswap, plus more complex trading products, may find Injective's value proposition enticing.  Disclosure: One or more members of the Crypto Briefing Management team are investors in Injective Protocol."

Basics

  • Based in:
  • Founded in: 2018, Q3
  • Their main offering of a DEX is not live yet (19-10-2020), you can sign up on their waitlist.
  • Canary Chain release: 30-6-2021. Dubbed the "Canary Chain", Injective Protocol currently only supports the Peggy Bridge, staking, governance, the oracle module, and the insurance fund.
  • Mainnet Canary Chain: Spot Trading Launch (28-7-2021).
  • Mainnet release: 17-11-2021
  • A L2 decentralized derivatives exchange protocol incubated by Binance Labs.

History

Audits & Exploits

Bugs/Exploits

Governance

Admin Keys

DAO

Treasury

Token

Launch

Token allocation

Binance Launchpad Sale 9.00% of the total token supply
Seed Sale 6.00% of the total token supply
Private Sale 16.67% of the total token supply
Team 20.00% of the total token supply
Advisors 2.00% of the total token supply
Ecosystem Development 36.33% of the total token supply
Community Growth 10.00% of the total token supply

Utility

"Protocol governance, Exchange fee value capture, Derivative collateralization, Liquidity mining, Staking."

Token Details

Stablecoin

Coin Distribution

Tech

Implementations

How it works

"Injective’s architecture isn’t an automated market maker (AMM). Instead, it leverages a key feature from 0x protocol and is order book-based. In the Injective environment, relayers are replaced by nodes. Node operators earn fees for routing and matching orders. And like 0x relayers, node operators could each be independent DEXes within a larger network."

  • Injective Protocol is comprised of four principal components (12-10-2020):
  1. "Injective Chain
  2. Injective's smart contracts on Ethereum
  3. Injective API nodes
  4. Injective front-end interface

The Injective Chain is a fully decentralized sidechain relayer network which serves as a layer-2 derivatives platform, a Trade Execution Coordinator (TEC), and decentralized orderbook. Injective Chain utilizes the Tendermint consensus mechanism and the core protocol logic is implemented through Cosmos-SDK modules."

Fee Mechanism

Upgrades

  • Dubbed the "Canary Chain", Injective Protocol currently (7-2021) only supports the Peggy Bridge, staking, governance, the oracle module, and the insurance fund.

Staking

  • Unbonding Period 21 days and can change through governance (12-7-2021).

Validator stats

Liquidity Mining

"Injective is launching an incentives program called Astro, which is worth $120 million to entice users to join the platform. The incentives program is expected to run for the next five years."

"Injective’s community will be able to capture value via liquidity mining programs that have been natively built onto the network to spur continuous growth."

Interoperability

  • From Binance Research (12-10-2020):

"The Injective Chain provides a two-way Ethereum peg-zone for ETH and ERC-20 tokens to be transferred to the Injective Chain as well as an EVM-compatible execution environment for DeFi applications. The peg-zone is based on Peggy and the EVM execution is based on Ethermint."

"Injective integrates with Polkadot to expand Injective’s decentralized cross-chain trading capabilities — it’s made possible by Moonbeam, which provides an Ethereum-compatible smart contract platform powered by Polkadot that makes it easy to build natively interoperable applications."

Scaling

Other Details

Oracle Method

Privacy Method

Compliance

Their Other Projects

Roadmap

"Outside of spot trading, they will also allow builders to create more complex derivatives products. Only perpetual swaps and contracts for difference (CFD) are currently available."

  • From Binance Research (12-10-2020):

"2020 Q4

  • Release of public testnet V1.
  • Launch of Incentivized Testnet Trading Competition.
  • Launch of ERC-20 token.

2021 Q1

  • Release of public testnet V2.
  • Release of Incentivized Staking Competition and Ethereum bridge.

2021 Q2

2021 Q3

2021 Q4

  • Launch of DAO governance for community governed listings and market creation.
  • Launch of staking pools on insurance funds.

2022 Q1

  • Launch of institutional exchange interface.
  • Launch of crypto-backed traditional financial derivatives."

Usage

Projects that use or built on it

  • As Injective is a protocol, other DEXs could be build on the Injective Protocol.

Competition

Pros and Cons

Pros

  • Most market leaders, like Uniswap, do not offer derivatives products.
  • Claims (14-10-2020) to be scalable (Cosmos SDK), interoperable and that it can evade front-running; "To solve this problem, Injective introduces Verifiable Delay Functions (VDFs). VDFs are essentially time stamps that can be placed on transactions to ensure an orderly and fair sequence of orders." 

Cons

  • Early stage and faces an uphill battle to attract users away from Ethereum (19-10-2020).
  • Zero gas fees (19-10-2020).

Team, Funding, Partnerships, etc.

Team

  • Full team can be found here (19-10-2020).
  • Eric Chen; CEO & co-founder

Advisors

According to their website (19-10-2020):

Funding

"Injective Protocol has raised $10M during private fundraising round. @mcuban, @PanteraCapital, @BlockTower, @hashed_official, @cmsholdings, and @QCPCapital, participated in the round. The tokens were sold with 1 year lockup period at a $1B+ valuation."

"Injective is launching an incentives program called Astro, which is worth $120 million to entice users to join the platform. The incentives program is expected to run for the next five years."

Partners 

(:

Knowledge empowers all and will help us get closer to the decentralized world we all want to live in!

Making these free wiki pages is fun but takes a lot of effort and time.

If you have enjoyed reading, tips are appreciated :) This will help us to keep expanding this archive of information.

ETH tip address: 0x83460bE5F218b1520B69D702cE60A1DE37dD8E31