Token

Injective

DeFi

Injective Protocol, a decentralized finance-centric platform, has launched TokenStation. In a&nbsp;<a class="editor-rtfLink" href="https://www.tokenstation.app/" target="_blank" rel="noopener nofollow">blog post</a> on March 18, Injective said the solution, deployed on its mainnet, allows users to launch native tokens. With this tool, Injective said it would empower anyone to create their tokens in a low-fee and scalable environment. 
<h2 id="injective-launches-tokenstation-strikes-key-partnership">Injective Launches TokenStation, Strikes Key Partnership</h2> 
The tool was developed by the Injective community and aims to “remove barrier to entry for token creation.” Like the token creation tools on Solana and Ethereum, for example, using TokenStation, part of the blog post won’t require coding experience.&nbsp; 
Related Reading: <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-crashed-65000/" target="_blank" rel="noopener ">Top Reasons Why The Bitcoin Price Crashed Below $63,000</a> 
This makes it easier for individuals and projects to launch on Injective. Beyond token minting, the tool allows token management and integration of tokenomics mechanisms like burning. 
The blockchain is launching the TokenStation days after partnering with <a class="editor-rtfLink" href="https://blog.injective.com/en/injective-and-altlayer-bring-restaking-security-to-evm-applications/" target="_blank" rel="noopener nofollow">AltLayer</a>, a platform backed by Binance Labs dedicated to developing roll-up technology for Ethereum. Through this collaboration, the two will build a re-staking security framework for Injective Ethereum Virtual Machine (inEVM) applications. 
The recently launched inEVM allows developers to seamlessly build applications leveraging the high scalability and near-zero fees on Injective. Additionally, the inEVM is set to increase composability between WebAssembly (WASM) and EVM environments. Through this unique feature, Injective can bridge the interoperability of Cosmos, the developer activity of Ethereum, and the high scalability of Solana.&nbsp; 
<h2 id="will-volan-help-prop-up-inj-prices">Will Volan Help Prop Up INJ Prices?</h2> 
In January, Injective Protocol&nbsp;<a class="editor-rtfLink" href="https://blog.injective.com/en/a-new-era-of-injective-the-volan-mainnet-upgrade/" target="_blank" rel="noopener nofollow">activated</a> the Volan Upgrade, setting the platform’s plans to build a robust real-world tokenization infrastructure into motion. Part of this was the introduction of a Real-World Asset (RWA) module. In this way, institutions can launch regulatory-compliant security tokens.&nbsp; 
Additionally, Volan modified INJ tokenomics, making the token progressively deflationary. Burning reduces INJ tokens over time, a measure adopted by other protocols, including BNB and Ethereum. 
While the upgrade and subsequent partnerships have lifted its prominence in decentralized finance (DeFi), growth has been slower than expected.&nbsp; 
<img loading="lazy" decoding="async" class="size-full wp-image-598677" src="https://www.newsbtc.com/wp-content/uploads/2024/03/Screenshot592.png?resize=1024%2C354" alt="Injective TVL | Source: DeFiLlama" width="1024" height="354" srcset="https://www.newsbtc.com/wp-content/uploads/2024/03/Screenshot592.png?resize=1024%2C354?w=1109 1109w, https://www.newsbtc.com/wp-content/uploads/2024/03/Screenshot592.png?resize=1024%2C354?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/03/Screenshot592.png?resize=1024%2C354?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/03/Screenshot592.png?resize=1024%2C354?w=860 860w, https://www.newsbtc.com/wp-content/uploads/2024/03/Screenshot592.png?resize=1024%2C354?w=750 750w" sizes="(max-width: 1000px) 100vw, 1000px" data-recalc-dims="1"> 
So far, DeFiLlama data&nbsp;<a class="editor-rtfLink" href="https://defillama.com/chain/Injective" target="_blank" rel="noopener nofollow">shows</a>&nbsp;that Injective Protocol commands a total value locked (TVL) of less than $65 million. This is miles behind Solana or Ethereum, two of the world’s most active smart contract platforms where active DeFi protocols also thrive. <a href="https://www.tradingview.com/x/T5jUkfpP/" rel="nofollow"><img loading="lazy" decoding="async" class="size-full" src="https://www.tradingview.com/x/T5jUkfpP/" alt="Injective prices trending downward on the daily chart | Source: INJUSDT on Binance, TradingView" width="1787" height="904"></a> 
Meanwhile, INJ prices, although relatively higher, are under pressure, as seen in the candlestick arrangement in the daily chart. INJ is down 30% from 2024 highs, slipping and following <a href="https://www.newsbtc.com/news/bitcoin/bitcoin-price-crashed-65000/" target="_blank" rel="noopener ">Bitcoin</a>. However, the coin is within a broader consolidation. Resistance and support levels are around $44 and $30, respectively.

Injective Launches Important Token Tool As INJ Bleeds

Table of Contents

NewsBTC

Άλλα άρθρα που δημοσιεύτηκαν στις 19 Μαρ 2024

Bitcoin might crash to $53,000 level, if this happens

Spot Ethereum ETF: Fidelity Adds Staking In Latest Filing

Multinational Bank and Mathematical Model Coincide Bitcoin Will Surpass $250,000

Partisia Blockchain Listing Today, What to Expect?

FinCEN-Approved FutureX Pro Marks Privacy and Security As Operational Priorities In Recent Launch

Nigerian Court Orders Binance to Provide Extensive User Data

Join our free newsletter for daily crypto updates!