Buy Injective Protocol

Injective (INJ) is a blockchain protocol specifically designed for financial applications within the world of decentralized finance (DeFi). As a layer 1 blockchain built on the Cosmos network, Injective provides an ecosystem for developing decentralized trading platforms and financial applications. The protocol stands out for its interoperability, high transaction speeds, and support for various financial products, such as perpetual swaps, futures, and options.

Injective aims to democratize access to financial markets. This means that everyone, regardless of location or background, can have unlimited access to financial services. The platform uses a Proof-of-Stake (PoS) consensus mechanism, which not only ensures security and decentralization, but is also energy-efficient compared to traditional blockchains such as Bitcoin, which uses the Proof-of-Work (PoW) mechanism.

What makes Injective unique is its ability for users and developers to build and launch financial applications without technical barriers. Thanks to its interoperability with other blockchains such as Ethereum and Solana, developers can easily create and launch new markets on decentralized applications (dApps) within the Injective ecosystem. This makes Injective a versatile and scalable solution for a wide range of DeFi use cases.

The native token, INJ, plays a central role in the ecosystem and is used for network security through staking, governance, and as a reward mechanism for validators and users. Furthermore, transaction fees are partly used for a burn mechanism, where a portion of the tokens are bought back and burned, contributing to a deflationary effect on the total INJ supply.

Injective also offers a fully decentralized order book structure for cryptocurrency trading. Unlike many decentralized exchanges (DEXs) that use automated market makers (AMMs), Injective operates on order books. This gives traders greater control and efficiency, allowing them to execute complex trading strategies similar to traditional financial markets, but in a fully decentralized manner.

Who founded Injective?

Injective was co-founded by Eric Chen and Albert Chon. Eric Chen, CEO of Injective, has a background in blockchain investing and worked at Innovating Capital, a prominent investment fund in the sector. Albert Chon, CTO of Injective, has a strong technical background and previously worked as a software engineer at Amazon. Their combined expertise in financial markets and technology has contributed significantly to Injective’s success.

The project is supported by a team of over 30 professionals, including developers, marketers and other specialists. Injective has the support of major investors such as Binance, Pantera Capital and Jump Crypto and already has over 100 projects within its ecosystem.

The Injective Protocol has several applications and functions:

• Decentralized trading of financial products: Injective offers a fully decentralized order book for trading various financial products, including futures, options and perpetual swaps.
• Trading of assets across networks: Integration with blockchains like Ethereum and Solana allows users to easily trade assets across networks, providing greater access to markets.
• dApp development: Developers can easily build and launch new financial applications on the Injective platform without incurring high costs.
• Governance: INJ token holders have voting rights on important network proposals, allowing the community to actively contribute to the development and future of the platform.
• Staking: Users can stake their INJ tokens to secure the network and earn rewards.

Injective is a layer 1 blockchain, developed with the Cosmos SDK, and uses a Tendermint-based Proof-of-Stake (PoS) consensus mechanism.

Tendermint Proof-of-Stake consensus

Injective’s Proof-of-Stake mechanism ensures network security and decentralization. Validators who stake INJ tokens play a vital role in processing and validating transactions. This mechanism enables fast transaction processing (up to 10,000 transactions per second) and provides instant finality, meaning transactions are confirmed immediately without waiting for multiple blocks.

Validators earn rewards in INJ tokens for their contribution to network security. In case of misuse, they can lose a portion of their staked tokens, which is a powerful security measure against malicious activity.

Smart contracts and interoperability

Injective supports smart contracts via CosmWasm, which allows developers to build advanced decentralized applications that are automatically executed on every block production. This allows for fully autonomous applications without the need for external actors.

Additionally, Injective leverages Electro Chains, which enables interoperability with Ethereum and Solana smart contracts. This allows developers to easily migrate their existing applications to Injective, opening them up to a wider audience and new markets.

Order books and gas-free transactions

One of the unique features of Injective is its use of a fully decentralized order book model for trading. This model provides traders with more control over their orders, resulting in greater market depth and efficiency, as opposed to the traditional AMM models used on many other DEXs.

Additionally, Injective offers gas-free transactions, meaning users don’t have to pay any transaction fees. This lowers the barrier to entry for new users and makes the platform more attractive to frequent traders.

The INJ token is the native cryptocurrency of Injective Protocol. One of the main functions of the INJ token is that of a governance token. This means that INJ holders can influence important decisions and updates within the network. In addition, INJ is used for staking, where users stake their tokens to secure the network and in return receive rewards in the form of additional INJ tokens.

Another notable feature of the INJ token is its deflationary mechanism. A portion of the transaction fees generated by decentralized applications is used to buy back and burn INJ tokens. This reduces the amount of tokens in circulation, which can potentially increase the value of the remaining tokens. Although the initial maximum supply of INJ is 100 million tokens, this number may decrease in the future due to the burn mechanism.

Staking INJ tokens is an important part of Injective Protocol and contributes to network security. Users can stake their INJ tokens by locking them up with one of the validators on the network. In return for staking, they receive staking rewards in the form of additional INJ tokens.

Staking takes place through the Proof-of-Stake (PoS) consensus mechanism. Validators who verify transactions and add new blocks to the blockchain are selected based on the number of staked INJ tokens. The more tokens a validator has staked, the higher the chance of being selected to validate a new block.

The following unique features set Injective Protocol apart from other crypto and blockchain projects:

• Interoperability: Injective enables seamless communication between different blockchains such as Ethereum and Solana, allowing assets to be exchanged effortlessly between networks.
• Decentralized order book: Instead of working with automated market makers like many DEXs do, Injective uses a fully decentralized order book.
• No gas fees: Injective users do not pay any transaction fees. These are covered by the network itself, which lowers the threshold and makes the platform more attractive to new users.
• Deflationary mechanism: The burn mechanism ensures that a portion of INJ tokens are permanently removed from circulation. This creates scarcity, which can increase the value of the remaining tokens.
• High transaction speed and instant finality: Thanks to the Tendermint Proof-of-Stake consensus mechanism, Injective can process over 10,000 transactions per second with instant finality.

Injective (INJ) can be purchased via Bitvavo. Our platform is suitable for both beginners and experienced crypto traders. Follow these steps to purchase INJ via our website or smartphone app:

1. Create an account or log in to your existing Bitvavo account.
2. Deposit money by clicking "Deposit".
3. Go to the Injective (INJ) buy page.
4. Enter the amount in euros you want to invest, or the number of INJ tokens you wish to buy and click "Buy".

How expensive Injective (INJ) is is determined by the current market rate. Once the purchase is complete, the tokens are immediately added to your Bitvavo account, where you can easily manage and trade them.

Want to keep your Injective (INJ) safe? Bitvavo offers a secure storage option within your account. The majority of customer funds are stored offline in cold storage, which provides an extra layer of security. We also recommend enabling two-factor authentication (2FA) for extra protection, so you will need a unique code in addition to your password to log in.

You can also choose to store your INJ tokens in an external wallet. Many software and hardware wallets support INJ. To transfer your tokens to an external wallet, simply verify the wallet address in your Bitvavo account and quickly send the tokens to your desired wallet.