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
Today, @Injective recorded a huge milestone with over 22k INJ burnt!
This is a testament to the ecosystem's growing activity and the community's support.
What does this mean?
The burn mechanism reduces the overall supply of $INJ tokens. Think of it as removing tokens from circulation permanently.
By decreasing the supply, the potential value of each remaining INJ token can increase over time, benefiting long-term holders. . . Let's keep the fire burning Ninjas! 🔥
Last week, @Injective integrated with MountainUSDM and OndoFinance, bringing tokenized assets such as USDM and USDY into the $INJ ecosystem.
USDM and USDY are stablecoins or yield-bearing assets, which can now be utilized within the Injective platform for various decentralized finance activities, such as trading, lending, or earning yields.
Let's explore the integration with Mountain Protocol through the infographic below 👇
A short thread on what it is, benefits, and how builders and the entire $INJ ecosystem and beyond can benefit from it.
------------------
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.
-----------------
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.
Please, hit the share button if you find this useful
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: