4 Easy Steps To Get Started On Injective, the fastest layer 1 specifically built for finance.
If you are new to the @Injective ecosystem, and wondering how or where to start?
Then, kindly follow these easy steps below.
-- Create your Injective wallet: Seamlessly connect your existing wallet or create a wallet from the list of compatible wallets
👉 hub.injective.network
-- Get Injective's native token $INJ with your local currency.
👉 injective.com/getinj
-- Explore Injective ecosystem
👉 hub.injective.network
-- Bridging Assets: Seamlessly transfer your assets from other chains to Injective
👉 hub.injective.network/bridge . . . Finally, Join the Injective Discord community to connect with fellow Ninjas and have any additional questions answered.
👉 discord.gg/injective
Btw, you can connect with me on X, username: @JoshuaAbel68
A short thread on what it is, benefits, and how builders and the entire $INJ ecosystem and beyond can benefit from it.
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What is Injective Venture Group
The @injective Venture Group is a group of prominent institutions and venture funds which have come together to support the builders on Injective.
This fund aims to accelerate development and adoption of the Injective ecosystem.
The $150M fund will support projects that contribute to Injective’s vision. This includes DeFi protocols, decentralized applications (dApps), and other blockchain innovations. The goal is to build a robust and diverse ecosystem.
Projects receiving funding can benefit from technical support, marketing assistance, and integration into Injective’s infrastructure. This will help them scale efficiently and tap into Injective’s global network.
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Injective’s ecosystem is growing, and this fund is a major step to attract top talent and groundbreaking projects. The fund aims to position Injective as a leading platform in the blockchain space.
Interested projects and developers can apply for support through #Injective's platform. I will drop the application link here
So, whether you're a developer, project owner, or builder, this is your chance to innovate, scale, and succeed.
Don't miss out on the opportunity to grow your project with funding, technical assistance, and access to a vibrant, global community.
Link to apply: injective.com/venturegroup . . If you found this content useful, please like and repost for others to see. Thank you.
The INJ burn mechanism is a crucial part of @Injective tokenomics, designed to create a deflationary effect by systematically reducing the total supply of INJ tokens.
All this is made possible through a unique system known as the Burn Auction.
Now, let me briefly explain how the burn auctions work:
The Burn Auction operates as follows:
--- Revenue Generation: A portion of the revenue generated by dApps utilizing Injective’s exchange module is accumulated. This revenue comes from transaction fees, protocol fees, and other sources within the Injective ecosystem.
--- Token Collection: The accumulated revenue is periodically collected into an Auction Fund. This fund also includes tokens from applications that opt into participation and direct contributions from individual users.
--- Auction Process: The Burn Auction invites participants to bid on a basket of tokens from the Auction Fund. The auction is conducted as an English Auction, where participants place bids using $INJ tokens.
--- Winning Bid: The highest bidder at the end of the auction receives the basket of tokens.
--- Token Burn: The INJ tokens used in the winning bid are then burned, effectively removing them from the total circulating supply.
So far, over 6 million tokens have been totally removed from the initial supply through the INJ burn mechanism, making $INJ one of the most deflationary assets in the industry.
Additionally, the $INJ burns happen weekly, every Wednesday, so stay tuned.
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Here's some quick alpha about the @Injective Knight role.
As we all know, the Knight role, up to Master, is reserved for elite contributors to Injective and comes with monthly rewards and exclusive packages for your contributions.
The usual path to earn the Knight role is to progress from Ninja to Warrior, and then to Knight 🥷.
But guess what? If you're a KOL or influencer with at least 5,000 real followers or 500 active group members, you might qualify for an accelerated onboarding process.
This means you may be eligible for a faster and simpler process to achieve the Knight role within the Injective community.
So, if you meet the requirements or would love to become a Knight and play a major role in shaping the future of Injective and Web3, why not hit the link below.
Here’s the Discord link to join the Injective server:
DEPIN: The Future of Decentralized Infrastructure and Why It's a Bullish Trend for 2024
What is DEPIN? DEPIN stands for Decentralized Physical Infrastructure Networks. To put it simply, it's about building real-world infrastructure (like networks, storage, and more) using blockchain technology. Instead of relying on big companies, these networks are powered by everyday people who contribute and earn rewards. Why is DEPIN a Bullish Narrative for 2024? 1. Decentralization: DEPIN projects aim to reduce reliance on central authorities, making systems more resilient and democratic. 2. Real-World Utility: These projects address tangible needs like internet connectivity, storage, and power supply, creating real-world value. 3. Incentives for Participation: Users can earn rewards by contributing to the network, whether by providing hardware, bandwidth, or other resources. 4. Growing Adoption: As more people and businesses see the benefits of decentralized infrastructure, adoption is likely to increase, driving up the value of these projects. Promising DEPIN Projects to Watch in 2024 1. Helium (HNT): Known for its decentralized wireless network, Helium allows users to set up hotspots and earn HNT tokens for providing coverage. 2. Filecoin (FIL): A decentralized storage network where users can rent out spare disk space and earn FIL tokens in return. 3. Arweave (AR): Focused on permanent data storage, Arweave allows users to store documents and applications forever, with a single upfront fee. 4. Energy Web Token (EWT): Aims to accelerate the transition to renewable energy by creating a decentralized energy grid. 5. Render Network (RNDR): Decentralizes GPU rendering tasks, allowing artists and developers to utilize spare computing power across the network. These projects represent just a slice of the DEPIN landscape, but they highlight the innovative ways blockchain technology can revolutionize infrastructure. Keep an eye on DEPIN—it could be a game-changer in 2024!