There is little discussion about $INJ in China, but if you look at the K-line chart, this coin has been in an independent bull market for almost a whole year this year, which is very worthy of attention. I have also done some research#NFA#DYOR
For You InformationïŒ
1. Basic Concepts of INJ
2. Special advantages of INJ
3. After INJ 2.0 is released, the impact of the new destruction mechanism on the currency price
4. Recent coin price performance and unlocking status
@Injective_
It is a layer 1 blockchain optimized for DeFi applications built using the Cosmos SDK. The biggest feature is that it allows third-party exchanges to be built on Injective without permission. INJ uniquely provides plug-and-play financial infrastructure, such as high-performance on-chain decentralized trading infrastructure, decentralized cross-chain bridges, and oracles to power the next generation of DeFi applications.
ââFully on-chain order book infrastructure Most DEX projects are overstated when it comes to decentralization. Most of these DEXs are decentralized only at the asset custody level, which means that while users retain control of their funds, the exchange itself handles all activities in a closed centralized environment. INJ has taken a more radical route and deployed the key application infrastructure of the order book on the chain.
ââAnti-MEV#MEVis the biggest problem facing the on-chain financial sector. I believe many people have encountered disgusting clamp robots when they are on the Ethereum chain, which often increase the cost of holding positions unintentionally. @Injective_ uses frequent batch auctions (FBA) as its order clearing mechanism to fight against MEV:
In FBA, trades are published in batches, orders submitted to the memory pool are executed at the end of each block, thus avoiding trade reordering and being "sandwiched", and are not published on the order book until the auction process is completed, obscuring information by implementing a delay time, thereby enhancing the trading experience of traders and allowing market makers to provide deeper liquidity with tighter spreads without worrying about high-frequency traders disrupting market making activities.
ââFree to create DeFi As a permissionless protocol, Injective allows users to develop their own on-chain derivatives markets. Community members can build novel financial products, launch funding pools for existing products, and start trading brand new markets without supervision. New market proposals do require governance approval or payment of 100 $INJ to be listed.
However, the creation of permissionless financial products also brings certain risks. In order to prevent risk spillover, INJ requires each new currency pair to establish an insurance fund before allowing trading to begin. Each pair is supported by these independent support pools, and the insurance fund provides settlement guarantees and mitigates the impact of potential liquidations.
ââBurning Auction Mechanism Unlike other basic burning mechanisms, INJ has designed its own novel "burning auction" mechanism, in which 60% of all transaction fees will be collected and deposited into a vault (a basket of different assets). Once a week, the vault will auction to Injective community members to obtain INJ tokens. The winning bidder will obtain the assets of the vault, and the INJ tokens placed in the bid will be destroyed.
Here comes the key point. Recently#INJreleased the largest token economics upgrade to date, which can significantly increase the amount of INJ destroyed per week.
Now, all dApps built on Injective can contribute to the $INJ burn auction, with no limit on how much they wish to burn. This, in turn, can lead to a more robust on-chain economy driven by INJ, as the burn auction can now capture value from all dApps in the rapidly growing Injective ecosystem. As of today, over 5.7 million $INJ has been burned forever.
After the sharp drop on August 18, INJ was one of the tokens that rebounded the most, recovering its losses in just one day.
Currently, 93% of $INJ has been unlocked. The next unlocking time is 8:00 on August 21, which will unlock about 3.41%. The potential selling pressure is gradually released, and the speed of destruction is getting faster and faster. It is worth continuing to pay attention to it in the future.
