Injective price

INJ

#59

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 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).

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.