Injective Blockchain has been able to build a commendable #Web3 financial ecosystem within a few years with a wide range of dApps, builders, validators and partners worldwide.
The Block Time of Injective has been improved to 0.82s. This makes it one of the fastest Layer 1 blockchains.
✅ inEVM ✅ CW20 reflection standard with Dojo Swap ✅ Integration with Ethena Labs, Noble, Galxe and Artemis ✅ Ionic upgrade to the Injective Bridge ✅ SAWorld launch on $INJ
Don’t watch this great history unveil, become part of it ✅
Designed to represent traders within the #Injective ecosystem, @InjectiveQuants aims to provide a fun entry point into the world of decentralized finance.
THE RECENT ACHIEVEMENTS OF DOJOSWAP ON INJECTIVE BLOCKCHAIN: CW404 and ERC404 Standard 🔥🔥🔥🔥🔥
DojoSwap is the first Native AMM decentralized exchange on Injective Blockchain. They focus on liquidity farming incentive, it’s an all-in-one DeFi platform. They have been able to break barriers and have a lot of achievements as you can see below: As you can see below 👇 -TVL milestone: $40,000,000 USD ✔️- Total Volume Traded: $200,000,000 USD - Number of unique traders: 22,000+ - Number of tokens listed: 21 - Number of launchpads: 4 (+2 coming up) - Number of airdrops: 4 (+5 more coming up) Recently, #DojoSwap launched CW404 which aims to be a port of the original ERC404 standard with bug fixes.
WHAT IS ERC404? ERC404 was launched through the Pandora NFT collection on Opensea, ERC-404 is an experimental token standard and an innovative approach that combines the features of ERC-20 tokens (fungible, divisible like money) and ERC-721 tokens (non-fungible, unique like NFTs)
Characteristics of CW404: The CW404 token has a fluid identity. It identifies as both a CW20 as well as CW721 token. If a user holds 10 CW404 tokens, and they decide to transfer 1 CW404 to another user, 1 NFT will be burnt, and 1 NFT will be minted in the new user’s wallet. The user that receives the NFT, will also have a token balance of 1.
WHY INJECTIVE IS THE BEST HOME FOR CW404(ERC404)
Injective has the lowest gas fees for transactions to occur. This is achieved via Injective’s newly unveiled gas compression technology. Imagine a $60 average ERC404 transaction cost versus an average of $0.05 CW404 transaction cost. This represents a 1000x in savings! Users are free to speculate on their favourite 404 tokens without worrying about gas costs eating into their bottom line.
It feels great to see that Injective is always willing to navigate new techs for the benefit if its community and dApps. Certainly, CW404 will bring a lot of liquidity and new users to Injective ecosystem. The party is just getting started.