Injective
About Injective
Injective is a unique project revolutionizing the idea of decentralized trading platforms. It's a system built and controlled by the community, meaning any development direction is decided by individuals holding INJ tokens. The project is backed by big names in the industry including Binance, Pantera, and Hashed. Its blockchain known as Injective Chain, hosts a completely decentralized order book and uses elements from Ethereum Virtual Machine (EVM).
In the last hour, Injective's price has seen a change of +0.10%, and over the past 24 hours, its price has moved by -3.17%. Over the previous week, Injective's price has moved by -1.51%. The current price of Injective is SAR 28.82, accompanied by a trading volume of 449.5M in the last day. Injective's price is currently 85.44% below its all-time high of SAR 197.96, which remains the highest price Injective has achieved since its launch. The circulating supply of Injective stands at 99.97M, translating to a total market capitalization of 2.881B.
Market stats
Frequently asked questions
What is the Injective network?
The Injective network and its trading symbol (INJ) is a decentralized blockchain network that provides cross-chain margin trading services, derivatives, and forex futures contracts. The Injective protocol was built on the Cosmos blockchain as a layer-2 application. The protocol uses cross-chain bridges to enable traders to access cryptocurrencies from platforms such as Ethereum and Polkadot. Unlike other popular decentralized trading platforms such as Uniswap or Bancor, the Injective protocol does not use an automated market maker (AMM) model to manage liquidity. Instead, Injective uses the order book model that has been widely used for years on centralized stock and cryptocurrency trading platforms. Through this approach, Injective aims to combine the efficiency of traditional finance with the transparency of decentralized trading platforms.
How does the Injective network work?
Injective operates on a blockchain built using the Cosmos SDK and runs on the Tendermint consensus mechanism, where validators stake INJ tokens to participate in transaction validation and block production. The network is distinguished by the integration of financial tools directly within the protocol layer, such as a decentralized order book and the trading of futures and derivatives, in addition to a deflationary mechanism to burn a portion of the coin supply. To enable the operation of this model, Injective uses bridges to networks such as Ethereum, as well as the IBC protocol to communicate with Cosmos networks . It also provides a software connectivity framework through APIs to allow developers to access network data and build applications and trading platforms without needing to run full nodes. This design makes the Injective network the closest thing to a fully integrated financial system at the core protocol level.
How do you buy INJ on Rain?
Buying INJ on Rain involves a few simple steps:
- Ensure you have funds in your fiat account or add your card in the payment methods section.
- Click “Trade” and select “Buy”.
- Select the cryptocurrency you wish to buy.
- Enter the amount you wish to buy in your preferred currency.
- Choose your payment method, either using a bank card or the cash balance in your fiat wallet.
- Click “Next” to review your transaction details.
- Click “Buy Now” to complete the purchase.
INJ will be added to your wallet once the transaction is executed. At Rain, we use cold storage to keep the majority of our clients’ assets offline.
Rain is licensed by the Central Bank of Bahrain (CBB) and the Abu Dhabi Global Market Financial Services Regulatory Authority (ADGM FSRA). This provides customers with a regulated framework for trading digital assets in the region.
Risks and considerations
Before buying INJ, it’s important to understand the associated risks:
• Price volatility risk: The cryptocurrency may be subject to sharp price fluctuations.
• Technical risk: Decentralized applications built on the network may contain software flaws that could lead to exploitation and financial loss.
• Liquidity risk: Liquidity may affect the cryptocurrency’s price movement. • Governance and regulatory risks: the coin’s value may be affected by legislation and regulation.
• Security risks: You must protect your account with a strong password and two-factor authentication and choose an appropriate storage method after thoroughly researching your options.
You should not purchase INJ based solely on price predictions. Instead, you should study the whitepaper, the currency’s use cases, the project, and your risk tolerance before making any decision.
What are the use cases for INJ tokens?
Paying gas fees, executing smart contracts, registering digital assets, and participating in the network’s consensus.
What is the burning mechanism used on the network?
Decentralized applications on the Injective Network collect a pool of protocol fees. Users submit bids to purchase INJ tokens from this reward pool, and the winning amount of INJ tokens is permanently burned to reduce the supply.
Is Injective compatible with the Ethereum network?
Yes. Through cross-chain bridges, it seamlessly connects with Ethereum, Solana, and other Cosmos-based chains.
What is Injective Protocol's primary focus?
Injective Protocol's primary focus is on creating a decentralized exchange that offers high-speed trading, high liquidity, and little to no gas fees, all within a secure network powered by the Cosmos protocol. By leveraging layer-2 technology, Injective Protocol aims to provide a seamless and efficient trading experience for users.
How does Injective Protocol ensure security for its users?
Injective Protocol ensures security for its users by employing a unique layer-2 solution that helps to eliminate front-running and other security risks often associated with decentralized exchanges. Additionally, the platform utilizes advanced cryptography and a rigorous validation process to maintain the integrity of transactions and user assets.
What role does the INJ token play within the Injective Protocol ecosystem?
The INJ token serves as the native utility and governance token of the Injective Protocol ecosystem. Holders of the INJ token have the ability to participate in governance decisions, such as proposing and voting on network upgrades and changes. Furthermore, the token provides incentives for validators, liquidity providers, and traders on the platform.
How to invest in Injective?
Rain offers you a number of ways to start investing in Injective, including buying Injective through bank transfers or by using your bank card. To purchase Injective on Rain, you can select Injective in your Rain account, then click Trade and select Buy. Enter the amount you wish to buy and click Next to review and confirm your purchase.
How to buy Injective with card?
Once you add your bank card to your Rain account, you can use it to buy Injective directly. You can start by adding your card to your payment options on your Rain account. To purchase Injective using your bank card, you can select Injective, click Trade then select Buy. Enter the amount you wish to buy and choose your card from the payment options. Click Next to review and complete your purchase by following the instructions on the screen.
note: The purchase option with debit or credit card is not available for our users in Turkey
How to buy Injective through bank deposit?
Rain enables you to buy Injective using your local currency. You can deposit funds through bank transfer, a process which takes 1-4 business days depending on your location. You can start by depositing funds to your Rain account from your bank account. Simply click on Deposit and enter the amount you would like to transfer. Click next and copy the instructions that will appear on your screen to complete the transfer from your bank account. Note that Rain does not automatically pull funds from your bank account and you will need to manually transfer the funds from your bank account to Rain's banking information.
Within 1-4 business days, the funds will be available in your Rain account and you will be able to use them to complete purchasing Injective. To do that, you can select Injective in your Rain account, click Trade and select Buy. Enter the amount you wish to buy with and click Next to review and confirm your purchase.
How to sell Injective?
This is an easy process that requires only a few clicks. Here are the steps needed to sell Injective successfully:
On your Rain account, select Injective then click Trade and select Sell. Enter the amount you wish to sell and click Next to review and confirm your sell transaction by entering an OTP. You will receive a confirmation email once the transaction is done with the details.
How to convert Injective into cash?
Rain gives you the opportunity to sell Injective and withdraw your funds from your Rain account to your local bank account. First, you need to add your personal bank account to your Payment Methods option on your Profile.
Once your bank account is added, you can sell Injective and withdraw the funds to your bank account by clicking on Withdraw and entering the amount you wish to withdraw. Click Next to review and confirm your withdrawal information by entering an OTP.
Once the withdrawal request is submitted, you will receive a confirmation email that the withdrawal is being processed. Processing your withdrawal request can take between 1-4 business days.
How to receive Injective?
If you would like to receive Injective in your Rain account, simply click on Receive and select Injective from the list at the top of the page. You can then either copy the address visible at the botom of the screen or share the QR code to to complete your receive transaction.
Make sure that you are using the correct network when receiving Injective to avoid possible loss of funds.
How to send Injective?
You can easily send your Injective from your Rain account to any external wallet by clicking on Send and selecting Injective from the list at the top of the page. Enter the amount you wish to send and add the external wallet address you are sending to. Click Next to review and confirm your send transaction by entering an OTP.
Why buy Injective with Rain?
When you buy Injective with Rain, you ensure that your assets are going to be safely stored on a regulated platform that follows strict compliance standards and is subject to periodic audits. Rain also uses bank-grade security measures like Cold Storage systems. Trading and storing Injective on Rain also means that your asset is going to be stored on 1:1 basis, which means your assets will always be available to you.
What is a Injective wallet?
A Injective wallet is where you can securely store Injective. A wallet helps you maintain ownership of your asset as well as enable you to trade, send or receive crypto-assets.
What is a Injective address?
A Injective address is a string of unique characters that is tied to your Injective wallet. The address functions just like a bank account number and it is what you use in order to send Injective from your wallet, or to receive Injective to your wallet.
What trading pairs available for Injective?
There are over 200 currency pairs available on Rain for you to trade with. You can trade Injective with Bahraini dinar, Kuwaiti dinar, Emirati dirham, Omani rial or US dollar, depending on your location. Additionally, you can swap Injective with 200 other assets like BTC, LTC, XRP, ETH. You can explore your options by visiting the market page on your Rain account: https://www.rain.com/market
What is the minimum order size to buy Injective?
You can trade Injective with any amount above $30 or equivalent in your account's currency. You can start trading Injective now by clicking the Trade button on your Rain account.
What are the most popular cryptocurrencies besides Injective?
Besides Injective, you can find over 150 assets available on Rain for you to start trading such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL), USDC, Ripple (XRP), DOGE, Tether (USDT), Chainlink (LINK) or BCH. You can explore these options by going to the homepage of your account and scrolling through the available assets. When you are ready to start trading, simply click on the asset of your choice and click Trade.
What blockchain is Injective built on?
Injective is built on the ETH blockchain. This determines how transactions are verified, fees are structured, and how compatible it is with wallets and other decentralized applications (dApps).
How do I keep my Injective safe?
To keep your Injective safe, make sure to use trusted wallets that support ETH. Enable two-factor authentication (2FA), store long-term assets in cold wallets, and never share your private keys with anyone. You can always refer to our Security & Policies section for more tips.
What will the price of Injective be in next 5 years?
Price predictions for Injective over the next five years are highly speculative and depend on crypto market conditions, adoption, and broader crypto trends. We encourage you to do your own research and make informed decisions.
Is trading Injective taxable?
Trading Injective may be considered taxable in some countries with varying tax rules, so we recommend checking with your local tax authority or financial advisor for specific guidance.
What is Injective's ATH?
Injective’s all-time high (ATH) was SAR 197.96 on 14 Mar 2024. This represents the highest recorded market price of the asset to date.
What is the market cap of Injective?
With a market capitalization of 2.881B, Injective is ranked 72 among other crypto assets.
What is the all-time high of Injective?
The highest valuation of Injective since its launch was at SAR 197.96, marking its all-time high.
What is the 24-hour trading volume of Injective?
The trading activity of Injective over the last 24 hours was at 449.5M, highlighting its liquidity in the market.
How many Injective are there in circulation?
There are approximately 99.97M units of Injective currently in circulation, affecting its market dynamics.
What is the relative popularity of Injective?
Injective market cap is around 2.881B.
Website
White paper
Source Code