What a month! November was here and gone in no time at all. From major events to developments across AI, DeFi, memes and more the month was chock full of updates. The Injective community never sleeps and ships like there’s no tomorrow.
Grab a hot fall drink, this monthly update stands to be one that needs to be read top to bottom. Strap in ninjas, it’s a good one.
Chain Milestone: Three Years of Mainnet
Injective celebrated its third year of mainnet with significant achievements across various sectors. The blockchain introduced INJ 3.0, enhancing its token burn mechanism and expanding community participation. Institutional adoption grew with the launch of AINJ, a staking Exchange-Traded Product by 21Shares. Injective strengthened its presence in Asia through major crypto events and hosted its first Builder House during ETHCC.
The ecosystem saw a surge in memecoin projects, fostering community engagement. Multiple mainnet upgrades were implemented, offering lower gas fees and the first-ever RWA module. Injective made substantial progress in Real World Assets (RWAs), launching the BUIDL Index tracking BlackRock's tokenized fund and integrating with Mountain Protocol for tokenized U.S. Treasury bills. The year concluded with the announcement of AUSD, Injective's first native stablecoin. These developments underscore Injective's commitment to building a decentralized financial future and its continued growth in the blockchain space.
iAgent: Injective's First AI Agent Creator
November saw the launch of iAgent, marking a significant step in Injective's AI-enabled finance ecosystem. iAgent, a groundbreaking SDK that enables users to create on-chain AI agents for executing blockchain tasks on the Injective blockchain. This innovative tool leverages large language models like OpenAI's ChatGPT to simplify complex blockchain interactions, allowing users to perform actions such as sending payments, placing trades, and managing funds through natural language commands.
iAgent offers real-time data analysis, predictive analytics, automated trade execution, and intuitive command interfaces. Key features include lightning-fast payments, seamless trading across Injective DEXs, transparent transaction tracking, and flexible configurations. By combining AI with blockchain infrastructure, iAgent aims to enhance accessibility for both technical and non-technical users, potentially revolutionizing how people interact with decentralized finance on the Injective blockchain.
In fact, within just a couple weeks of iAgent launching, $AGENT, an AI token, was created and launched to much fanfare to the Injective community amassing over $1M of market cap within the first 24 hours of launching.
Fetch.ai Integration
In a move that further bridges AI and blockchain, Fetch.ai has been integrated into the Injective ecosystem. The integration opens up new opportunities for users and developers in both ecosystems, allowing Injective users to access $FET tokens and leverage advanced AI capabilities, while enabling ASI Alliance users to deploy their tokens across Injective's DeFi applications. Additionally, this development paves the way for AI-enabled finance and cross-chain functionality, with both teams committed to exploring new use cases, joint research initiatives, and innovative product developments.
The Injective Community Comes Together
0:00 / 1:00 1×
The inaugural Injective Summit in Bangkok, Thailand, was a landmark event that showcased the network's innovation and vision for reshaping the financial blockchain landscape. With nearly 1,000 attendees, over 20,000 livestream viewers, and more than 30 industry-leading speakers, the Summit featured dynamic discussions from top projects like Agora Finance, Monad, Binance, Keyrock, and Offchain Labs.
Injective unveiled its revolutionary MultiVM initiative and debuted iAgent, an on-chain AI agent creator. The event was divided into three zones: the immersive Conference Zone, the vibrant Ecosystem Zone styled like Thai food stalls, and the relaxed Ambassador Zone for networking. The Summit highlighted Injective's commitment to community, featuring a strong local Thai presence and exclusive merchandise.
With groundbreaking announcements, engaging debates, and a focus on both global and local community building, the Injective Summit set a new standard for blockchain events and marked the beginning of a new era for the Injective ecosystem.
Meme Monday
The Meme Monday Spaces brought together representatives from various meme projects on the Injective blockchain to discuss what each project is building and the role of AI in the ecosystem. Participants shared updates on their projects, including AI agents, trading bots, NFTs, and community engagement tools. The discussion highlighted the potential of AI integration in blockchain, particularly for trading and user interaction. Key points included the development of on-chain AI agents, the use of natural language processing for blockchain interactions, and the potential impact on trading strategies. Participants also touched on the challenges of regulation and the need for projects to evolve with technology. The conversation underscored the vibrant and innovative nature of the Injective ecosystem, with projects focusing on building tools, fostering community engagement, and pushing the boundaries of blockchain technology. Listen to the recap here.
Injective Meme Bridge
The Injective Meme Bridge is a newly launched feature that enables seamless bridging of meme tokens between Solana and Injective blockchains. The bridge is powered by Injective's interoperable layer-one blockchain infrastructure and Wormhole’s efficient message passing bridging infrasturcture which utilizes advanced features like inter-blockchain communication and a bi-directional token bridge. The initial batch of supported tokens include: QUNT, NINJA, XIII, KIRA, and AGENT with more to be added. When a user initiates a transfer, the tokens are locked in a smart contract on the source chain, and equivalent tokens are minted or released on the destination chain, ensuring a secure and efficient cross-chain transfer process.
Helix: Turkey Day Tesla Giveaway and Universal Swaps
Helix, Injective's flagship decentralized exchange, is hosting the "Turkey Day Tesla Giveaway" trading competition following the success of their previous "Like A G" event. Running from November 26th to December 6th, 2024, the competition offers traders the chance to win a Tesla Model 3 (or a cash equivalent of $42,490) as the grand prize. Participants compete by trading on Helix, with the winner determined by the highest realized PnL in USD during the campaign period. This event not only provides an exciting opportunity for traders but also showcases Helix's enhanced UI and new features, further cementing its position as a leading DEX in the DeFi space.
Paradyze Goes Live on Injective Mainnet
Paradyze has launched the first community-driven prediction market on the Injective blockchain, offering users the ability to propose and engage in various prediction markets. The platform distinguishes itself through its community-centered approach, featuring a "Prestige" system for user participation in market proposals and governance.
Paradyze extends beyond traditional prediction markets by integrating DeFi modules with gamification elements, including plans for real-world asset predictions and a yield lottery. Key features include interactive leaderboards, regular trading competitions, gamified portfolio integration, and participation rewards. Built on Injective's binary options module, Paradyze streamlines the creation of prediction markets. This innovative platform aims to set a new standard by combining technological robustness with active community participation, creating an environment where users can shape the future of decentralized predictions while enjoying a rewarding and gamified experience.
Moonpay Integration
The integration of Moonpay into the Injective ecosystem enhances accessibility for users, providing an additional on-ramp for acquiring INJ and other digital assets in the Injective ecosystem. This development further bridges the gap between traditional finance and DeFi, making it easier for new users to onboard to the Injective ecosystem.
Full List of Injective Updates
Ecosystem Updates
Hydro Protocol, the largest LSDFi protocol on Injective is launching a number of new products to take all of DeFi to new heights, including loop stake, on-chain RWA lending and much more.
DojoSwap has increased the liquidity of the INJ/USDC pool, allowing users to swap with minimal slippage and perform swaps with optimal output.
Neptune Finance, the leading lending protocol on Injective, has completed its final leaderboard snapshot, paving the way for its next phase.
Hex Trust, the leading institutional digital asset custodian, has further offered institutional products for Injective across custody, staking and trading services.
Helix released Universal Swaps, allowing anyone to swap across tokens live on Injective’s exchange module.
SwissBorg has supported INJ staking as part of the SwissBorg Earn. Users can onboard onto Injective and stake INJ using all popular fiat currencies at the click of a button.
Skip has launched Skip:Go Fast which allows users to bring thousands of assets from all major ecosystems onto Injective in a mater of seconds.
Leap Wallet has launched SwapFast, the fastest way to swap for any token ion Injective.
Bitkub, the largest exchange in Thailand has integrated Injective to support native INJ deposits and withdrawls.
Injective Updates
Injective processed over 96 million blocks.
Injective surpassed 1.2 billion on-chain transactions.
Injective reached over 222,000 unique delegates.
Injective has over 58.1 million INJ staked.
A total of 45,915 INJ was burned through weekly burn auctions in October, and a total of 6.28 million INJ has been burned to date with over 173 burns.
The INJ staking APR on Injective is 11.07% with over 58.1 million INJ staked.
Injective SDK has over 99,992 monthly downloads.
The total trading volume on exchange dApps on Injective reached $1.4 billion in November, with its peak daily volume on November 11th reaching $104M volume. The most liquid markets across Injective DEXs are BTC and ETH perpetuals.
Community Updates
The meme mania is once again here on Injective. Check this thread to explore major memes on Injective, how to launch new meme tokens and how to onboard to Injective.
DoraHacks hosted an Injective bounty for a meme coin trading app with interal trading and rewards.
XION’s new airdrop checker has been released with many Injective community members such as Ninja Pass and Premier Ninja holders qualifying for an airdrop spot.
Injective Labs co-founder and CTO Albert Chon spoke to one of the largest Korean tech media channels on the team’s founding story and the unmatched infrastructure Injective is building.
Cooper Emmons, the institution BD lead of Injective Labs, took center stage at Thailand Blockchain Week, discussing Injective’s offerings from its advanced RWA capabilities to being the only L1 chain purpose built for DeFi.
Injective community hosted a talent competition to celebrate the third anniversary of Injective mainnet.
Conclusion
November has been a month of significant achievements and growth for Injective. From celebrating three years of mainnet operation to introducing cutting-edge AI-enabled finance tools and fostering community engagement, Injective continues to push the boundaries of what's possible in Web3 finance. As the ecosystem expands and matures, Injective is well-positioned to lead the charge in bridging traditional finance with the decentralized world.
The foundations laid this month set the stage for an exciting future, with more innovations and developments on the horizon. Stay tuned as Injective continues to revolutionize the landscape of decentralized finance.
About Injective
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.
Website | Telegram | Discord | Blog | Twitter | Youtube | Facebook | LinkedIn | Reddit | Instagram | Orbit Newsletter
