Injective Protocol: Redefining Web3 Finance
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: May 28 2024- Injective Protocol Overview:
- Provides traders access to various markets with decentralized exchange services like margin trading and forex futures.
- Uses an order book model instead of AMM for liquidity control, distinguishing it from other DEXs.
- Based on the Cosmos network as a layer 2 chain, leveraging chain bridges for token access.
- Injective Protocol Team:
- Founded by Eric Chen, known for innovative trading initiatives in blockchain.
- Albert Chon, the CTO, invented a new Ethereum standard and has experience at Amazon.
- Other team members include Mirza Uddin, Chris Choi, Noah Axler, Julie Lee, Bojan Angjelkoski, and Nam Dang.
- Tokenomics of Injective:
- Total supply of 100,000,000 INJ with allocations for ecosystem development, team, private sale, community growth, and more.
- INJ token's use cases include governance, staking, and collateral derivatives within the Injective ecosystem.
- Competition Analysis:
- Competitors like Avalanche, NEAR Protocol, and ChainLink offer alternatives to Injective with unique features.
- Avalanche focuses on high throughput, NEAR Protocol on cloud computing, and ChainLink on decentralized oracles.
- Future Outlook and Drawbacks:
- Predictions suggest a bullish run for INJ due to growing user attention and planned collaborations.
- Drawbacks include limited liquidity on the derivative exchange and reliance on centralized price feeds.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
