During the week of September 2nd, 2024, the Injective team was in Seoul, South Korea, for the largest web3 conference in the country—Korea Blockchain Week (KBW). Injective's presence was felt throughout the event, with team members leading technical workshops, participating in panel discussions, and hosting three key events. It was an exciting opportunity for the South Korean crypto community to engage directly with Injective’s vision and innovations.

Day 1: DSRV NEOHAUS Workshop

The week kicked off on Monday with Injective Lab’s Developer Relations Manager, Shayan, delivering a well-received workshop titled Injective 101: A Guide For Builders at the DSRV NEOHAUS. Packed with eager attendees, the workshop served as a deep dive into Injective's development toolkit, enabling builders to get a comprehensive understanding of how to create dApps on the platform. The interactive session fostered thoughtful questions from the audience, creating an opportunity for developers and Injective community members to connect and share insights.

A full house for @0xShayan’s intro to @injective session! 🩵 #NEOHAUS pic.twitter.com/P0gRSADTc9

— DSRV (@dsrvlabs) September 2, 2024

Day 2: Injective Seoul Night

Tuesday saw Injective hosting Injective Seoul Night—an event co-hosted by A41 that was a perfect blend of networking and celebration. Blockchain innovators and enthusiasts gathered to enjoy a lively atmosphere filled with engaging conversations, hors d'oeuvres, and beverages. Attendees had the unique opportunity to connect with thought leaders and pioneers in the industry who were present in Seoul, discussing the latest trends and innovations in the blockchain space. This night reinforced Injective’s commitment to cultivating a thriving ecosystem through meaningful relationships.

Day 3: Injective Dinner at Glod Seoul

On Wednesday, Injective held an intimate dinner at Glod Seoul, nestled in the heart of Gangnam. This exclusive gathering provided the perfect setting to strengthen collaborations with key innovators while exploring new opportunities for cooperation. 

The dinner was a curated dining experience that provided not only exceptional cuisine, but also the opportunity to engage in strategic conversations with core members of the Injective ecosystem.

Day 4: Tokenizing the World Panel

Thursday brought a highlight as Injective Lab’s Ecosystem Growth Associate Justin participated in the panel Tokenizing the World: Leveraging Blockchain to Unlock New Market Opportunities. Held during A41’s Epoch Seoul, the panel featured industry experts, including Tiffany Lung from Plume, Rania Rahardja from Ondo, and JP Mullin from Manta. The discussion centered around the impact of real-world assets (RWAs) and how tokenization is reshaping markets by bridging traditional finance with blockchain technology.

Day 5: Hydro Finance Meetup

Closing out the week on Friday, Injective joined forces with ecosystem partner Hydro Finance to host the first-ever Hydro Meetup. The event brought together fans and enthusiasts of both projects for an afternoon of discussion and collaboration. BC, Head of Business Development at Hydro opened the event with remarks reflecting on the past year’s milestones and outlining the roadmap ahead for the project.

A Week of Success and Innovation 

Injective’s presence at Korea Blockchain Week 2024 exemplified its growing influence in the global blockchain space. By facilitating technical knowledge sharing, engaging in thought leadership discussions, and strengthening partnerships, Injective continues to drive forward its mission of advancing decentralized finance. With so many exciting developments on the horizon, KBW 2024 was just the beginning of what promises to be another groundbreaking year for the Injective ecosystem.On to the next city ninjas 🥷🛫

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.

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Let’s face it, the biggest headache in crypto is onboarding – going from bank account or credit card to on-chain wallet. It stops many in their tracks, frustrates others, and generally makes for a not so fun experience filled with too many steps.

Enter Mercuryo. Enter the Injective Bridge.

As of today, Mercuryo has integrated with Injective and is now available on the Injective Bridge, bringing users a seamless, one-step solution for getting INJ. 

Mercuryo is an industry-leader in payment solutions for Web3 applications. Powering over 200+ applications to date, Mercuryo purports a secure, user-friendly fiat on-ramp for acquiring digital assets.

The Injective Bridge is a user-centric all-in-one interface for onboarding/offboarding from the Injective network. With Easy Deposit/Withdraw, users can effortlessly bridge between Injective and 20+ different networks, including Ethereum, Solana, Arbitrum, and Polygon. Likewise, the Injective Bridge also supports Wormhole Connect, further expanding connectivity to Injective. Now, with Mercuryo, not only is Injective connected to all the decentralized world, it is also connected to the whole of the world. 

Injective is all about reducing friction, and this is that to a tee. With Mercuryo on the Injective Bridge, users can purchase INJ with the most commonly accepted forms of payment worldwide, including:

Visa

Mastercard

Apple Pay

Google Pay

Bank Transfer

Additionally, the platform supports over 25 fiat currencies* for on-ramping to Injective, increasing accessibility to INJ via the Injective Bridge. Some of the major supported currencies include:

USD

EUR

JPY

GBP

CAD

CHF

KRW

This integration is a huge step forward for user experience and widespread adoption, bringing traditional finance further on-chain to Injective. With Mercuryo and the Injective Bridge, accessing the Injective ecosystem has never been easier. Whether you’re new to crypto or a seasoned vet, you now have a streamlined, efficient way to on-ramp to Injective. More importantly, you now have the future of finance that much closer to you. 

Embrace convergence. Leverage the future of finance. Do it with Injective. 

*Please note that geographical restrictions and supported services may vary depending on your country of citizenship. For more details, visit help.mercuryo.io.

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.

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💡 Learn how to onboard onto Injective through the fiat on-ramp payment solution provided by Mercuryo.

This article is for informational purposes only and is not financial or investment advice.  The information contained in this article is intended to be current at the time of publication but may not remain so indefinitely.

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.

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Today, Injective is introducing the tokenized index for BlackRock’s BUIDL Fund, allowing users, for the first time, to access the fund with innovative on-chain financial instruments.

This is the first perpetual index market of its kind that tracks the supply of the BUIDL fund itself. The BUIDL fund is BlackRock’s first tokenized fund, giving holders U.S. dollar yields. The BUIDL Index will be exclusively accessible via a range of different dApps only on Injective, such as Helix, offering a new gateway to the tokenized fund with the lowest fees and fastest speeds in the crypto space.

Background on BUIDL

BUIDL is BlackRock’s first tokenized fund issued on a public blockchain. Also known as the BlackRock USD Institutional Digital Liquidity Fund, BUIDL provides institutional investors access to yield on assets such as U.S. treasuries.

Specifically, the BUIDL token offers a stable value of $1 per token. In addition, token holders get a dividend that accrues daily and is then paid every month. The contents of the fund and source of the yield include cash, U.S. treasury bills, and repurchase agreements. According to recent data from real world asset analytics platform Rwa.xyz, the BUIDL fund has accrued over $500 Million in assets under management which makes BUIDL the largest tokenized fund to date.

A number of parties are involved in the creation of the BUIDL fund itself, for which BlackRock serves the primary role of investment manager. Blockchain firm Securitize helps to manage the tokenized shares and reports on fund subscriptions, redemptions, and distributions. Other initial participants in BUIDL include prominent firms in crypto, such as Coinbase, along with longstanding Injective institutional partners BitGo and Fireblocks.

Under the Hood: How the BUIDL Index Works

The BUIDL Index brings the world’s first perpetual market for BlackRock’s BUIDL Fund, allowing anyone to gain 24/7 access to tokenized assets such as U.S. treasuries with leverage.

This index was created in collaboration with Stork, a decentralized on- and off-chain price feed. Stork focuses on performance, utilizing ultra-fast WebSockets to ensure data availability at the millisecond level, comparable to the data used for trading in traditional finance (TradFi). With the help of Stork, Injective was able to launch a RWA-specific oracle during its broader Altaris Mainnet upgrade last month. This advanced oracle network expands Injective’s capacity to offer never-before-seen tokenized asset offerings, ensuring that data feeds for these assets are accurate and tamper-proof.

Instead of simply creating an asset that tracks the price of the underlying asset, this index perpetual market tracks the underlying supply of the BUIDL fund itself. This was done due to rising demand in the space for tracking inflows and outflows from the BUIDL Fund, which has, over the past few months, become a barometer for institutional interest in crypto as a whole.

“The launch of the BUIDL Index showcases the sheer potential of Injective’s infrastructure in being able to truly bring traditional finance onto fully decentralized rails. For the first time, institutions and retail users alike can gain direct access to a novel RWA offering that tracks the actual fund spearheaded by BlackRock,” said Eric Chen, co-founder and CEO of Injective Labs.

So how does the BUIDL Index work in practice? For example, today there are ~$500 million of BUIDL tokens minted. As the supply of BUIDL tokens rises, the price of the index perpetual also rises. As supply falls, the price of the index perpetual falls. Users are therefore able to take on long or short positions on the index depending on which way they think the market is going. Also, because of the nature of this index perpetual market on native Injective DEXs such as Helix, traders have the option to utilize leverage.

The market is based on the fund’s mark price, which fluctuates intraday based on the percentage increase or decrease of supply. Price changes are reflected in the market using a 1-hour TWAP to mitigate any short-term volatility resulting from significant mint or burn movements.

Expanding RWA Tokenization on Injective

The release of the BUIDL Index is a major milestone in Injective’s ever-growing presence in the asset tokenization space. Developers and community members alike are continuing to make strides in further converging the world of traditional and on-chain finance, making Injective the primary L1 for novel asset offerings that would not be possible on any other chain.

With technical breakthroughs such as the release of the first-ever RWA module, Injective allows developers to launch new tokenized offerings seamlessly. This, combined with the launch of the RWA oracle, has allowed for the creation of the BUIDL Index today.

Previously, the BUIDL fund was only open to institutions that could invest at least $5 million. Now, anyone around the world can trade the BUIDL index perpetual future market with as little as $1, meaning more users than ever can now access an entirely new asset class that was previously gated to remain in the hands of the elite few.

As the first and only blockchain built for finance, Injective is continuing to pave the way towards a new capital-efficient world in which traditional and on-chain finance truly converge for the first time.

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.

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About BUIDL

BUIDL is the BlackRock USD Institutional Digital Liquidity Fund, a tokenized fund developed by BlackRock that runs on the Ethereum blockchain, providing US dollar yields through tokenization. BUIDL enables investors to acquire tokens that represent shares in the fund, which invests in assets such as US Treasury bills. It provides instant settlement, improved liquidity, and seeks to maintain a stable token value while distributing dividends on a monthly basis. Read more about BUIDL in the launch press release.

September already? This summer flew. Fortunately, while everyone was soaking up the sun, Ninjas were heads down, grinding, and most importantly — shipping.

The past month was big for Injective on nearly every front. A massive chain upgrade was implemented without a hitch, a jam-packed conference schedule was unveiled, and pivotal integrations were rolled out. 

It’s the August Community Update, and it’s time to get down to business. With that said, drop what you’re doing, pop in your headphones, and take 7 minutes to understand what Injective accomplished in just the last 31 days. 

Better, Faster, Finance: The Altaris Chain Upgrade

Altaris didn’t just improve the network; it redefined it, bringing forth a host of new capabilities that position Injective at the forefront of the Layer 1 landscape.

Background 

Altaris was made possible by the overwhelming community support for Injective Improvement Proposal 420 (IIP-420). This proposal saw one of the highest levels of governance participation in Injective’s history, with over $1 billion worth of staked INJ backing the upgrade.

Superior Scalability, Performance, and Interoperability

At the core of the Altaris upgrade were substantial enhancements that significantly boosted Injective’s scalability, network performance, and interoperability. Key optimizations were introduced to accelerate chain speed, improve data handling, and enhance resource management, resulting in a more robust and responsive system. Together, this dropped block time from 0.9 seconds to 0.65 seconds. Understand the impact of that here, and look below to see where it places Injective amongst its peers.

In addition to these performance upgrades, the integration of Wasm 2.0 expanded Injective’s smart contract capabilities. This empowered developers to build the next generation of decentralized applications with greater sophistication and efficiency. Altaris also strengthened Injective’s cross-chain capabilities through the integration of IBC hooks and Packet Forward Middleware (PFM). These features enhanced interoperability, enabling seamless interactions with other blockchains and opening new possibilities for cross-chain applications and collaborations.

Bolstering Tokenization

One of the most transformative additions with Altaris was the integration of the Real World Asset (RWA) Oracle. This advanced oracle network expands Injective's capacity to offer tokenized asset offerings, ensuring that data feeds for these assets are both accurate and tamper-proof. By bridging the gap between digital and traditional assets, the RWA Oracle opens up new possibilities for financial applications that connect blockchain technology with the traditional financial system.

Economic Enhancements

Altaris introduced several economic improvements, including the upcoming Universal Burn Auction and the release of Stake Grants. Likewise, Injective reduced the maximum fee rate by 50% across all markets on the chain. These features optimized Injective’s token economy, fostered community collaboration, and encouraged greater participation in the network.

For the full breakdown of Altaris in detail, click here.

Korea Blockchain Week (KBW)

August wasn’t just about the chain. Injective was hard at work prepping for a busy September. One of the biggest conferences on the horizon is KBW, where Injective will be heavily engaged. Taking place from September 1-7, community members can look forward to two Injective meetups during the event. 

Injective Seoul Night

Join Injective on Tuesday, September 3rd in Seoul! Held in collaboration with A41, this exclusive gathering is set to bring together blockchain innovators, enthusiasts, and industry leaders for a vibrant evening of networking and celebration.

The event promises a dynamic atmosphere, complete with delicious hors d'oeuvres and beverages, set in one of Seoul's most stylish venues. Attendees will have the unique opportunity to engage with thought leaders and pioneers in the blockchain industry, making this a must-attend occasion for those passionate about the future of decentralized finance.

Spaces are limited, as the event is designed to foster meaningful conversations and connections in an intimate setting. Be sure to secure your spot early to not miss out on this exclusive experience.

Hydro x Injective Ecosystem Meet-Up

Hydro, the premier LSD protocol built on Injective, will be hosting a networking event designed to bring together developers, project teams, and members of both the Injective and Hydro communities.

The Hydro Meetup offers a unique opportunity to share insights, discuss the broader vision for the Injective Ecosystem, and explore new opportunities for collaboration and development. Attendees will have the chance to engage in meaningful discussions about how Hydro’s advanced liquidity infrastructure is poised to revolutionize decentralized finance within the Injective network.

Whether you're an active participant in the DeFi space or someone looking to get more involved, the Hydro Meetup promises to be an invaluable experience. It’s not just about networking—it’s about shaping the future of decentralized finance through collaboration and innovation. If you’ll be at KBW, be sure to register now. 

Token2049 Singapore: Injective Function

As September unfolds, Injective is set to make waves at Token2049 in Singapore with a special event: the Injective Function. Scheduled for September 18th, this evening promises to be an immersive experience of innovation and inspiration, held in collaboration with Google Cloud.

Hosted at the sophisticated Mo Bar, the Injective Function is crafted for blockchain enthusiasts eager to connect and collaborate. Attendees will have the opportunity to engage in stimulating conversations with industry leaders, enjoy curated cocktails, and discover the latest advancements within the Injective Ecosystem.

Upgraded Ninja Ambassador Portal

August saw significant enhancements to the Ninja Ambassador Portal on BonusBlock, making it an even more powerful tool for community engagement and contribution within the Injective Ecosystem.

Most exciting was the addition of on-chain missions. Ambassadors can now complete tasks directly on different dApps within the Injective network, allowing for a more integrated and hands-on experience. The portal also introduced real-time updates, enabling ambassadors to track their progress and see the results of their efforts as they complete tasks.

To further incentivize participation, the leaderboard feature was upgraded to allow ambassadors to view rankings from past months and over custom time periods. This enhancement adds a competitive edge and helps recognize the top contributors over time within the community.

Big Integrations, Bigger Impacts

The Injective train continues down the track with new integrations across the Injective ecosystem. Each sets out to deliver the expansion of key assets, dApps, and functionality improvements that the community has been asking for. This month, the most significant beneficiaries of these developments are traders and institutions.

TON Blockchain Integration

The TON blockchain has integrated with Injective, bringing $TON to the Injective ecosystem and $INJ to the TON ecosystem. $TON can now be utilized across Injective’s suite of DeFi dApps, bringing additional trading markets and liquidity to the ecosystem. Key use cases include trading, asset tokenization, and on-chain lending.

Elliptic Analytics Platform Integration

Elliptic has integrated Injective into its blockchain analytics platform. Elliptic’s platform is used by many top enterprises and institutions. Elliptic’s products unlock users and developers to track fund flows within the Injective network. This functionality is crucial for institutions to operate in Web3 and meet strict compliance regulations for their specific solutions. 

BalancedDAO dApp Integration

BalancedDAO has launched their cross-chain DeFi dApp on Injective. Balanced also brings their overcollateralized bnUSD stablecoin to be used across the Injective DeFi ecosystem. Users and traders alike can utilize Balanced to borrow, swap, and bridge assets cross-chain. This integration further showcases Injective’s superior chain performance with instant transaction finality and low fees that traders demand. 

Full List of Injective Updates 

Ecosystem Updates

Utila, a leading institutional MPC Wallet, has natively integrated Injective, offering asset tokenization capabilities for institutions. 

Injective’s native token, INJ, is now available on TON’s leading DEX, STON.fi, allowing users across the network to access it through various dApps.

Injective’s native lending protocol, Injera, has launched Phase 2 of its Money Markets and GEM farming event.

Helix, a major DEX powered by Injective, reduced its base taker fee to 0.05% with the recent chain upgrade. 

SA World, one of the largest Web3 gaming platforms, has granted INJ holders and stakers 5% Booster and bonus xEntropy for its game “The Great Escape”.

Injective Updates

The Injective Altaris Chain Upgrade has been launched on the mainnet, delivering the most powerful upgrade to date.

Injective launched its Remix Web IDE plugin, a new web-based integrated development environment (IDE) to allow developers to write, test, and deploy smart contracts directly from their web browser. 

Injective processed over 83 million blocks.

Injective surpassed 900 million on-chain transactions. 

Injective reached over 223,000 unique delegates.

Injective has over 59.6 million INJ staked.

A total of 86,099 INJ was burned through weekly burn auctions in August, and a total of 6.17 million INJ has been burned to date with over 164 burns.

The INJ staking APR on Injective is 13.74% with over 59.6 million INJ staked.

Injective SDK has over 128,093 monthly downloads.

The total trading volume on exchange dApps on Injective reached $1.8 billion in August, with its peak daily volume on August 5th reaching $267M volume. The most liquid markets are BTC and ETH perpetuals.

Community Updates

The Injective Altaris Chain Upgrade was featured on CoinDesk.

Everstake published an Injective report of the first half of 2024.

Four Pillars published a comprehensive report on Injective Altaris Chain Upgrade.

The Injective community introduced an Injective meme generator for anyone to create their own memes easily. 

Conclusion

As August comes to a close, it’s clear that Injective is not just keeping pace with the industry—it’s leading the charge. From game-changing upgrades like Altaris to strategic integrations and a bustling event schedule, the foundation laid this month sets the stage for even greater achievements ahead.

To all the Ninjas out there, your dedication and passion are what drive Injective forward. Moving into September and beyond, your contributions will continue to shape the future of decentralized finance. So keep your eyes on the horizon and your hands on the wheel—because the best is yet to come.

Stay tuned for more groundbreaking updates, and let’s continue to build the future of finance, together.

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.

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Injective today is releasing its Remix Web IDE plugin, a new web-based integrated development environment (IDE). This launch marks an important milestone for the Injective ecosystem, as it allows developers to write, test, and deploy smart contracts directly from their web browser.

Background

One of the most significant challenges in software development is the initial setup—downloading the necessary tools and dependencies, configuring everything correctly, and ensuring compatibility with your machine. This process often results in wasted hours troubleshooting before even writing a single line of code.

With the Remix Web IDE, those frustrations are a thing of the past. The entire development workflow has been streamlined into an accessible online platform, enabling Injective developers to be productive from anywhere, on any device. Say goodbye to tedious binary downloads and configuration hassles—simply visit the website and start building.

Getting Started with Remix IDE

Ready to start building? Open up Remix here and check out the quick start guide below:

When creating a project via the Remix Web IDE, one has the ability to choose between a template and a new project. If you select the template available, your IDE will be populated with a simple counter example, as shown below.

To Compile a Smart Contract

Select the project you want to compile in the TARGET PROJECT section.

Select a compilation option and click the Compile button.

When the compilation is complete, the wasm and schema files are returned.

To Store the Code

Once you have compiled the contract, then the Store Code button will appear. Simply click the button to store the code.

To Instantiate the Contract

When the Store Code is completed, a Code ID is generated.

You can choose whether to allow contract upgrades or make them unmodifiable through the immutable option.

If there are arguments for contract instantiation, input the parameters and click the Instantiate button. The arguments are generated through react-jsonschema-form.

To Execute the Contract

Select the method to run.

Add parameters as needed.

Run the method via clicking the Query or Execute buttons. If you are sending a transaction, you must sign the transaction by clicking the Send button inside the wallet.

And there you have it! You have successfully compiled, stored, instantiated, and executed your first Injective smart contract from the comfort of your browser. 

To learn more, visit here and continue your adventure. As always, you are encouraged to join the vibrant developer community on Injective and reach out via any of the channels such as Discord and Telegram below.

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.

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Balanced, a cross-chain platform allowing users to borrow, swap and bridge native assets cross-chain, is now live on the Injective mainnet. This launch introduces the overcollateralized bnUSD stablecoin to the Injective ecosystem. Balanced allows users to borrow the Balanced native stablecoin (bnUSD), swap cross-chain, and transfer assets to Injective from any network integrated with Balanced.  As with all dApps on Injective, users can expect near-instant transaction finalization and fees that cost mere cents.

What can users do on Balanced?

Using any native asset as collateral, users can borrow up to two-thirds of the value in bnUSD to be utilized across supported Injective DeFi protocols. A fixed 0.2% loan fee and a 2% annual interest rate apply*. A user’s debt is linked to the value of collateral and can be repaid from any chain at any time. In fact, because bnUSD is natively cross-chain, users can utilize the stablecoin right away, as there is no need for wrapping or unwrapping.

Balanced also enables users to swap assets cross-chain. For example, a user with ETH on Arbitrum can seamlessly swap to INJ on Injective in one-click. With Balanced, liquidity providers will also share in 50% of the fees generated from traders. For traders, there is a variable bridge fee, depending on the size of the trade as well as a 0.3% swap fee for each step in the trade route.

Any supported native asset can just as easily be sent cross-chain to be utilized in the Injective ecosystem. A user simply needs to choose the asset they desire to send and the destination chain they wish to receive on and in one click the transaction is complete.

What This Means for the Injective Ecosystem

The integration with Balanced expands the Injective ecosystem:

Broader Asset Options: The addition of bnUSD to Injective expands the variety of assets available for trading and yield farming strategies.

Cross-Chain DeFi Capabilities: With seamless asset transfer between other ecosystems and Injective, users can now implement cross-chain DeFi strategies with INJ and bnUSD.

To get started on Balanced, visit: app.balanced.network

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.

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About Balanced

Balanced is home to the Balanced Dollar stablecoin (bnUSD), and includes an exchange to service all blockchains connected to the ICON Network.

As a decentralised protocol, Balanced is governed by its community through the Balance Token (BALN). You can buy BALN from the Balanced exchange, and earn it when you borrow bnUSD or supply liquidity. When locked, BALN holds voting power and boosts your earning potential.

You can use Balanced on Arbitrum, Archway, Avalanche, Base, BNB Chain, Havah, ICON, and Injective.

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Injective is continuing to redefine blockchain performance, consistently delivering faster and unmatched experiences for developers and users alike.

Recent performance upgrades have slashed block times down to just 0.65 seconds on average. Not only is this a monumental leap from the sub-second block times achieved a year ago, but it also makes Injective one of the fastest layer 1 blockchains ever created. This article explores the key enhancements that made Injective's unparalleled speeds possible, the significance of the improvement, and how it can drive the entire world of Web3 forward.

Analyzing Blockchain Performance

In the blockchain industry, throughput or Transactions Per Second (TPS) has become a catch-all term often used to gauge performance. However, throughput or TPS alone is an umbrella term that can oversimplify and even misrepresent the true capabilities of a network. The reality is that blockchain performance is a multifaceted concept, better understood through a combination of metrics such as block size, block time, processing, and finality—each of which plays a critical role in determining the efficiency and reliability of a chain.

Performance is not merely about how many transactions a network can handle per second; it's about how effectively those transactions are processed from start to finish. To further assess blockchain performance, it is imperative to first define a few important terms:

Block size dictates how much data can fit into a single block (transaction types vary in data size). Broadly speaking, though, block size represents the maximum number of transactions that can be included in a single block. Optimizations around processing transactions significantly influence this variable, where computational efficiency is vital for maximizing the actual number of transactions included per block.

Block time refers to the interval required to validate and record a block of transactions. In essence, it can also be understood as the average time it takes to add a new block on a network.

Finality measures the time it takes for a transaction to be considered irreversible and secured against any future changes.

Together, these metrics offer a more nuanced and accurate picture of network performance. As this piece will highlight, Injective is able to achieve the highest standards of throughput with lightning-fast block times and instant transaction finality.

Beyond Throughput: The Role of Latency

When considering end-to-end performance, latency should also be a focal point. Latency, or the time it takes for a transaction to be fully confirmed from initiation to finalization, is inherently tied to block size, block time, and finality. Faster block times and finality reduce end-to-end latency, making the network more responsive and user-friendly. Likewise, larger block sizes can reduce the time a transaction has to wait for inclusion in the next block, meaning lower latency. These factors collectively define the network's ability to complete a transaction’s full lifecycle, which is ultimately what matters most for users and developers alike—it is, in a sense, a direct assessment of network performance.

Understanding the role of latency in network performance A Primer on Layer One Scalability

Scalability has been largely conflated with throughput, evolving into a synonym in general discourse within the industry. Yet again, this obfuscates the nuances of actual scalability. For a blockchain network to “scale” effectively, it must encompass not just performance, but also resilience and upgradability. These elements together form the foundation that allows a network to support an increasing array of services, i.e., scale its operational footprint and capability.

Just as throughput doesn’t mean much with lackluster finality, it also doesn't mean much if transactions within the blocks are vulnerable to manipulation. For a network to scale effectively, it must be resilient—resilient to practices such as MEV, sandwich attacks, and front-running. This is particularly true in financial ecosystems, where the stakes are high, and the margin for error is low. Applications will not be able to grow effectively and reach mass adoption if such resilience does not exist within the underlying layer 1 chain, and if they do, they won’t be there long.

Similarly, long-term sustainability for dApps requires the long-term viability of the chain itself. A network that can be easily updated and improved without massive engineering overhauls ensures that it can evolve alongside emerging threats and opportunities. A self-evolving blockchain that can be rapidly upgraded—whether for security, additional optimizations, or new features—will always be better equipped to stand the test of time. In an environment where there are hundreds of “Internets” or layer 1 chains to select from, adoption will ultimately occur within chains that minimize risk while over-indexing on agility.

Three tenets encompassing scalability

Thus, scalability is not just about throughput; it’s about a network’s ability to grow in all dimensions—performance, security, and adaptability. Only by integrating performance, resistance to attacks, and upgradability can a network truly scale, supporting an ever-increasing array of dApps and use cases while meeting the demands of users and developers.

Injective: Superior Performance at Scale

Injective's unmatched performance can be best understood by further delving into the distinct criteria best used to assess scale.

A Self-Evolving L1 Network

Injective’s speed to improve is one of its strongest features. This is largely due to Injective’s pioneering work in creating on-chain modules. Modules are essentially pre-built pieces of infrastructure that allow developers to instantly augment their applications with new functionality. The plug-and-play approach allows Injective to quickly adopt new capabilities, such as its recently released RWA module, offering a customizable experience for seamlessly tokenizing real-world assets in a compliant and secure manner.

As the only module-based L1, Injective ensures its future viability, routinely building ahead of the curve. In turn, this also signals to the market that Injective is the premier destination where projects and institutions can launch and evolve over time.

Building Resilient Systems: A Truly MEV Resistant Chain

When it comes to resilience, Injective is unlike any other blockchain. Injective is the first-ever blockchain to embed Frequent Batch Auctions (FBA) into the chain itself, making it a truly MEV-resistant L1.

Injective's FBA system batches transactions over discrete time intervals rather than processing them individually. By collecting and matching orders at the end of each interval, it eliminates the timing advantage for malicious actors, thus preventing front-running. Transactions within each batch are executed at a uniform clearing price. This ensures that no participant can manipulate the order prices within the same batch, maintaining fairness and reducing price manipulation opportunities. Orders are kept confidential until the end of the auction interval when they are revealed and executed (sealed bids). The use of sealed bids leaves no room for validators to perform maximum extractable value (MEV) strategies, as the transaction batch is hidden prior to execution.

An illustration of the Frequent Batch Auction (FBA) Model on Injective

The fully on-chain FBA system creates an extremely resilient chain, free of common limitations such as rampant front-running and MEV threats seen on many prominent networks today. Additionally, Injective's FBA system aligns perfectly with its Tendermint BFT-based PoS consensus, providing instant finality for transactions. So not only can transactions proceed without any potential MEV, but they are also finalized with certainty, meaning that transactions can't be reverted or fail as is often the case on other networks. This combination of MEV resistance with instant finality on Injective ensures a robust development environment, which in turn powers a next-gen user experience for all.

Enshrining Instant Finality

On the performance side of the equation, Injective blocks, which can fit up to 100 MB of data per block, are now created every 0.65 seconds following the latest upgrade. If the average size of a transaction in a block is 250 bytes (a common reference size for testing), Injective’s upper bound is 400,000 transactions per block, or ~615,000 TPS. In practice, Injective is operating at 16,250 transactions per block, or 25,000 TPS. However, this does not necessarily provide the full picture (see above, performance ≠ TPS); Injective’s finality is instant with its custom implementation of Tendermint’s BFT consensus mechanism. Not only does this significantly reduce latency, but it also means transactions are immediately considered irreversible, a crucial characteristic in the context of financial processes moving on-chain. Ultimately, this all adds up to superior performance and superior scalability.

With finality fully optimized, Injective has turned its attention to further improving block time in its latest upgrade, dramatically improving its end-to-end performance and scalability.

The Importance of Faster Block Times and Speed

Every millisecond counts on-chain. Block time directly influences the speed and efficiency of a network, as discussed above. Shaving even a fraction of a second can be game-changing for blockchains and financial markets.

Faster block times translate directly to a more efficient developer environment. When transactions are confirmed more quickly, the entire ecosystem becomes more responsive, reducing the friction that often plagues financial systems. This increased efficiency doesn’t just benefit individual users; it transforms the network into a magnet for liquidity.

Liquidity is the lifeblood of financial markets. As transactions are processed faster, developers and institutional participants experience lower latency, which encourages more frequent usage, reduces the risk of slippage, and curbs arbitrage market impact. This heightened activity attracts even more liquidity, creating a virtuous cycle where efficient markets draw in more capital.

The outcome? Limitless opportunities for everyone. With a network that can process transactions at sub-second speeds, Injective opens the door to a new level of financial dynamism. Traders on native DEXs built on Injective, for instance, can capitalize on price movements with greater precision, while developers can build sophisticated financial applications that thrive using the inherent speed and reliability of Injective.

In essence, faster block times are not just a technical upgrade—they are a fundamental catalyst for achieving unprecedented growth. Faster block times enhance the overall efficiency of the network, making Injective a more attractive platform for developers, users, and institutions. This positions Injective as a leader in creating a more robust and competitive platform relative to other layer 1 chains.

A visual comparison of block times on Injective The Power Behind the Performance

The remarkable reduction in Injective block times is the result of carefully engineered optimizations focused on several key areas:

Optimized State Synchronization and Data Handling: the underlying data structures that manage Injective's blockchain state have been fine-tuned, leading to faster read and write operations. This significantly reduces latency, enabling the network to process transactions more swiftly.

Enhanced Resource Management: The improvements also include better disk usage and resource management techniques, leading to reduced I/O loads. This means the network can handle a greater number of transactions per second while maintaining the integrity and speed of block production.

Refined Consensus Mechanisms: An optimized consensus algorithm has been implemented, enhancing the process of validating and confirming transactions. These refinements ensure that the network can swiftly reach consensus even under heavy transaction loads, further accelerating block times.

These upgrades are not just incremental improvements, but are part of a broader strategy to ensure that Injective remains at the forefront of Web3 engineering.

Unlocking a New Paradigm for All

The impact of these advancements is felt across the board:

For Users: Faster block times translate to a smoother, more responsive experience. This means users can execute transactions with greater confidence and efficiency, a crucial feature, particularly as it relates to financial processes. Quicker block times reduce the risk of slippage and limit the value extracted by arbitrageurs, making Injective an ideal platform for applications such as high-frequency trading and other time-sensitive operations.

For Developers: The improvements provide a more robust and efficient platform to build on, reducing the time it takes to develop and deploy applications. Developers can thus innovate more quickly, bringing new features and applications to the market at a faster pace. This makes Injective a prime environment for cutting-edge financial applications, setting it apart from slower, less efficient networks.

For Institutions: Significantly faster block times enable Injective to seamlessly bridge the gap between traditional finance and on-chain environments. One of the major challenges institutions face today is the lack of infrastructure that can replicate the high-speed transactions common in traditional financial markets, where billions of dollars can change hands in mere fractions of a second. Injective now offers an unparalleled experience for institutions, allowing for asset tokenization, trading, and other financial activities to occur at speeds that surpass those of any other L1. This positions Injective as the ideal chain for institutions looking to bring their operations on-chain without compromising on performance or efficiency.

A Future Built on Speed and Innovation

With these improvements and innovations, Injective stands at the forefront of scalability. A block time of just 0.65 seconds is a powerful testament to Injective’s relentless pursuit of excellence. While other blockchains struggle to keep pace, Injective surges ahead, redefining what’s possible for layer 1 chains.

Looking forward, Injective remains committed to continuous performance enhancements. If the past is any indication, future upgrades will undoubtedly further decrease block times and introduce additional optimizations, ensuring that the network continues to lead the pack in terms of performance. The focus will continue to be on building the best blockchain for finance—a chain that provides limitless scale and limitless possibilities for all.

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.

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Injective uniquely provides a number of plug-and-play modules which developers can utilize to rapidly build and launch production ready finance focused dApps.

A core module emerges from Injective's native exchange module which supports binary options markets, offering a robust infrastructure for developers to create diverse decentralized applications (dApps). Here's an overview of how it works and the benefits it offers:

How It Works

Binary options on Injective are financial derivatives where traders predict outcomes from two possible results. This market does not have a base asset, and on Injective, positions are usually quoted in USDT, although other assets may be supported in the future. The essence of trading in these markets on Injective lies in the binary resolution of events, such as political outcomes or other yes/no scenarios. Prices range from $0.00 to $1.00, representing the probability of the outcome occurring. Traders lock in funds based on their predictions, and payouts are made based on the accuracy of these predictions once the event's outcome is determined.

Injective's binary options markets leverage a "Provider Oracle" system for price feeds, ensuring the final settlement of the markets is based on verified outcomes. The markets have a lifecycle that includes creation, active trading, and settlement phases, with specific actions allowed in each phase to maintain market integrity and fairness.

Benefits and Advantages for Developers

Modular Integration: Developers can integrate binary options markets into existing platforms or develop entirely new products. This flexibility accelerates development timelines and allows customization to suit specific market needs or user preferences.

Extremely Simple: The module supplies developers with a turnkey solution, delivering application functionality by simply providing the oracle and market parameters, no smart contract needed. This significantly reduces the development effort and time required to launch new applications. 

Diverse Application Potential: Beyond typical financial predictions, the platform can support markets for virtually any binary outcome, broadening the scope of potential applications, from sports betting to blockchain infrastructure.

Community and Documentation Support: Injective provides comprehensive documentation and community support, making it easier for developers to understand and make use of binary options markets effectively.

By leveraging Injective's binary options markets, developers are endowed with the tools to innovate within the predictive market space, enhancing the platform's appeal to a wider array of users and developers alike. This not only diversifies the ecosystem on Injective, but also drives forward innovation within the broader industry.

Considering the multitude of benefits Injective's out-of-the-box solution provides for builders, numerous potential use cases can be identified. At first glance, the feature might seem to have a limited scope, but a deeper investigation reveals a variety of unique applications. Let’s explore five potential applications that could be predicated upon just this one modular solution built by Injective and available to any that wish to employ it. 

5 dApps That Could Be Built Today

1. Event-Based Prediction Markets

This dApp could encompass various types of events, including sports matches, political elections, entertainment awards, and weather events. Users could place bets on the outcomes of these events, such as predicting the winner of a sports match, the results of an election, the recipients of awards, or significant weather occurrences. This aggregation would create a comprehensive prediction platform, leveraging the binary nature of these outcomes for clear and engaging trading opportunities.

2. Real-Time Market Simulators

This dApp would simulate more traditional financial markets, such as options trading on stock or commodity outcomes, without needing to handle actual securities. By using binary options, users could place trades based on predictions about market outcomes, effectively replicating the dynamics of real financial markets in a sandboxed environment. This means users would be able to test financial strategies without putting real capital at risk. The on-chain simulation could extend into the realm of Web3 finance, providing a risk-free platform where users can experiment with various strategies. Real-time data from oracles and on-chain sources would ensure the simulations are accurate and relevant. Additionally, this platform could be used in educational contexts, helping users learn the intricacies of financial markets in a controlled setting and onboarding new users to DeFi.

3. Decentralized Insurance Payouts

Utilizing binary options for insurance-related applications could revolutionize claim processing. This dApp would use binary options markets to automate insurance claims and payouts based on predefined criteria and verified data inputs. This could include events like travel disruptions, health emergencies, or property damage.

For instance, users could purchase insurance against flight cancellations, delays, or baggage loss when booking travel. The binary outcome (event happened/not happened) would be verified through decentralized oracles sourcing data from airlines and airports. Payouts could be automatically processed through the binary options contracts, reducing the need for manual claims processing and verification. End-to-end, this would simplify insurance claims processes, making them faster and reducing fraudulent claims. As a result, the possibility of creating a more efficient and user-friendly product may be more within reach than previously thought. 

4. Tokenized Asset Compliance Monitoring

In the realm of tokenized assets, whether in real estate or corporate bonds, ensuring compliance with agreed standards is crucial. A dApp could monitor and enforce compliance or conditions based on predefined criteria related to tokenized assets, with outcomes verified by reliable data sources. This could serve many markets, such as real estate or corporate governance.

For example, in tokenized real estate, investors could enter binary options contracts that pay out based on compliance with rental income thresholds or maintenance of property standards, verified through IoT sensors or financial reports. Similarly, for corporate governance, payouts could be tied to achieving specific ESG (Environmental, Social, and Governance) goals or other operational milestones, with data fed by audited reports or monitoring systems in manufacturing. This would create a transparent, enforceable method for ensuring compliance and performance in complex contractual environments.

5. Cap Derivatives

This innovative dApp would allow users to engage in cap derivatives trading. Cap derivatives set a maximum (cap) on the value of an underlying asset, offering traders a way to hedge against price spikes or cap their potential gains and losses. By leveraging binary options, users could trade on whether an asset’s price or interest rate will stay below a certain cap. This system would be particularly useful for managing risk in volatile markets, providing traders with tools to protect their positions while benefiting from market movements within predefined limits. For instance, in a commodities market, an investor might want to cap the price of oil to manage the risk of price surges. By purchasing a cap derivative with a strike price of $80 per barrel, the investor ensures that if oil prices rise above $80, they receive payments that offset the increased costs, effectively capping their exposure.

The Common Thread

Each of these applications could use Injective's binary options markets features offered through the exchange module. Herein, the ready-to-use features would be employed to handle market mechanics, including trade execution, settlement, and payouts, with the robust oracle system ensuring accurate event outcomes are captured and integrated for market resolution. By building on Injective, developers can benefit from reduced development times and focus on market-specific adaptations, enhancing user engagement and broadening the scope of decentralized finance applications.

For developers looking to explore this functionality, detailed documentation and community support are readily available, ensuring an optimal development experience on the Injective platform. For more detailed insights and technical documentation on how to leverage this functionality, developers are encouraged to visit Injective's official documentation page.

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.

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By Bradley Keoun

Stakers on the Injective blockchain on Thursday passed the "Altaris Mainnet Upgrade Proposal," also known as "IIP-420," and deployment of the upgrade began soon afterward, according to social-media posts by the project. In a message to Protocol Village, the team described Altaris as "a major update enhancing the trader, staker, developer and end-user experience. It includes an advanced RWA Oracle for expanded tokenized offerings, improved INJ Burn Auction mechanics and market enhancements like perpetual market launch permissions for native DEXs. Altaris introduces SDKs for Python, Go and TypeScript for developers, enriched interoperability with IBC hooks, streamlined governance, enhanced security for the Injective Bridge and Ledger wallet integration." 

Welcome to the July Community Update! July was another massive month, not only for the platform and ecosystem, but also for finance at-large. If there's one through line to draw from these monthly updates, it's that Injective is reducing friction in every facet: friction for builders, friction for users, and friction for institutions. Building the future of finance demands this.

This month hit on all three aspects. Institutions saw the launch of AINJ, the Injective Staking ETP, and witnessed the integration of Ondo Finance and Mountain Protocol, providing access to yield-bearing stablecoins USDY and USDM, respectively. At the end of the day, these products benefit all Injective users, offering greater access to dynamic financial instruments. This, of course, would not be possible without Injective signalling a readiness and proficiency to institutional entrants worldwide. 

The introduction of StreamSwap and Start.cooking exemplified the ecosystem’s growing diversity, demonstrating its capability to support a wide range of applications. These integrations, alongside the reinforcement of network security with Galaxy, showcased Injective’s dedication to providing a versatile, secure, and user-centric blockchain platform. As Injective continues to attract innovative projects and reliable partners, it is clear that the ecosystem is poised for even greater growth.

The excitement didn't stop there. The community came together for the inaugural Builder House event, which was a huge success. This gathering brought together industry leaders, developers, and enthusiasts to share insights, collaborate on projects, and celebrate the vibrant Injective ecosystem.

In true Injective fashion, the ecosystem growth and activity continued to flourish in the month of July. As we round up the key takeaways, keep this in mind and check out the resources section to dive deeper into anything that catches your eye. In the meantime, Injective will keep shipping, keep stacking win after win, and keep raising the bar—transforming decentralized excellence into a new standard of success.

Injective is Built for Finance, Finance is Built for Injective

Injective is pioneering the seamless integration of traditional finance with blockchain technology. This vision is embodied in every aspect of its ecosystem, consistently reducing friction to create a unified financial landscape. In July, this was on full display, week-in and week-out.

AINJ: The Injective Staking ETP Launch 

July heralded the launch of AINJ, a groundbreaking Injective Staking Exchange-Traded Product (ETP) by 21Shares. AINJ offers a transformative way for users to gain exposure to INJ via major traditional finance venues while capturing staking rewards. AINJ is backed 100% by underlying INJ and kept in cold storage by an institutional-grade custodian, ensuring a direct correlation to its underlying asset while reducing operational costs. By combining the benefits of staking with the convenience and efficiency of an ETP, AINJ offers a comprehensive and dynamic instrument for benchmarking INJ.

Supported by 25 banks and brokerages, including Interactive Brokers, Saxo Bank, Swissquote, and eToro, AINJ exemplifies Injective’s relentless drive to bridge traditional financial markets with the dynamic world of DeFi. Recently, 21Shares spearheaded efforts for the Bitcoin ETF alongside Cathie Wood’s Ark Invest, managing over $3 billion in assets for this product offering alone. Their experience and reputation ensure that AINJ is backed by a reliable and established partner.

Tokenization, Tokenization, Tokenization

Tokenized treasuries have brought a remarkable $1.2 billion on-chain in the last four months, showcasing the transformative potential of tokenized assets. BlackRock’s BUIDL Fund alone amassed over $527 million, highlighting the burgeoning interest and Injective’s role in this financial evolution.

This month, Ondo Finance launched USDY on Injective. USDY, a tokenized note secured by short-term U.S. Treasuries and bank demand deposits, merges the stability of a USD-backed asset with the lucrative benefits of yield generation. Following this, Injective onboarded USDM, issued by Mountain Protocol. USDM is the first permissionless yield-bearing stablecoin, backed by U.S. Treasury Bills. This asset not only offers secure, regulated access to a stablecoin but also incorporates BUIDL into its reserves, currently providing a 5% annual yield* through a daily interest rebasing mechanism, at the time of publishing.

Injective’s advanced capabilities, as the only L1 built specifically for finance, including the world's first RWA module, make these integrations possible. The RWA module uniquely enables institutions and users to launch new tokenized offerings with custom rule sets and parameters, facilitating the creation of some of the most liquid on-chain products for commodities, FX, and more.

Injective’s unwavering dedication to reducing friction between traditional finance and blockchain technology is evident in these developments. By providing robust, yield-bearing assets and leveraging innovative modules, Injective is setting a new standard for financial convergence, offering unparalleled opportunities and flexibility.

*For the most accurate and up-to-date information, please refer to the Mountain Protocol website.

Builders in Brussels

The inaugural Injective Builder House was a resounding success, marking a significant milestone for the Injective community. Held in a stunning industrial building by the Canal de Bruxelles during EthCC, the event brought together industry leaders, developers, and community members from all corners of the Injective ecosystem.

Attendees were greeted with exclusive Injective merchandise and a day packed with insightful panels, hands-on workshops, and vibrant networking opportunities. Highlights included:

Panels and Talks: The main stage featured discussions on long-term value in crypto, scaling institutional capital in Web3 finance, and the integration of RWAs. Notable speakers included Eric Chen from Injective Labs, Robinson Burkey from Wormhole Foundation, and Matt Sorg from Solana.

Hands-On Workshops: Upstairs, sessions focused on Injective’s developer toolkit, rollup interoperability, and leveraging real-time data with Pyth. Workshops provided practical guidance on launching dApps, scaling tech stacks, and bridging traditional finance with blockchain technology.

The event concluded with a lively closing party, where attendees celebrated the day's achievements. The first Injective Builder House successfully connected industry leaders and community members, setting the stage for future impactful events.

For a detailed recap, check out the recap.

New dApps Enter the Ecosystem

StreamSwap

StreamSwap, a cutting-edge addition to the Injective ecosystem, offers a unique approach to token swaps. Unlike traditional Automated Market Makers (AMMs), StreamSwap facilitates time-based token swaps, allowing tokens to be exchanged over a fixed period rather than instantly. This method promotes fair and transparent price discovery, providing a balanced and predictable flow of liquidity. 

StreamSwap's innovative model enables token issuers and traders to lock tokens in streams, which are gradually swapped, ensuring both price and liquidity are determined transparently and efficiently. This integration significantly enhances the trading experience within the Injective network, supporting a more dynamic and fair DeFi environment.

Start.cooking

Start.cooking joined the Injective ecosystem, empowering users to create tokens on the Cosmos network using the Token Factory Module. This platform focuses on delivering an exceptional user experience through its intuitive interface, allowing anyone to launch tokens with minimal fees and no initial liquidity requirement. 

Tokens can begin trading instantly on a bonding curve, and as milestones are reached, automatic liquidity pools are set up on Dojo Swap. This seamless process boosts trading volume and engagement, making it easier for all users to innovate and participate in the ecosystem.

Galaxy

Galaxy, one of the largest Web3 institutions, officially joined Injective as a validator.  The addition of Galaxy is yet another example of Injective working with the industry’s best. Known for its robust performance, Galaxy's involvement ensures a more secure and reliable blockchain, enhancing user trust and confidence in the ecosystem.

Full List of Injective Updates 

Ecosystem Updates

USDY is now available on Helix, providing users with additional yields on stablecoin holdings.

The Injective Staking Exchange Traded Product (ETP), AINJ, was launched by 21Shares. The news is featured by major media outlets such as CoinTelegraph. 

Mountain Protocol has launched on Injective, introducing USDM into the Injective ecosystem.

StreamSwap has launched on Injective, introducing a new paradigm of time-based token swaps.

Start.cooking has launched on Injective, enhancing meme coin culture within the Injective ecosystem.

Zen Card has supported Injective, enabling effortless interaction with the Injective chain for users.

Galaxy Exchange has supported Injective, facilitating easy cross-chain asset transfers.

Dojo Swap has unveiled Dojo Swap 2.0 to scale liquidity and support builders.

Galaxy, one of the largest Web3 institutions, has joined Injective as a validator.

Tria is live on Injective to redefine chain abstraction enabled UX across the ecosystem. 

Injective Updates

Injective released the Altaris Chain Upgrade governance proposal.

Injective processed over 80 million blocks.

Injective surpassed 800 million on-chain transactions. Notably, it recorded 3.9 million transactions in a single day on July 4th, 2024.

Injective reached over 222,000 unique delegates.

Injective has over 60 million INJ staked.

A total of 75,232 INJ was burned through weekly burn auctions in July, and a total of 6.08 million INJ has been burned to date with over 160 burns.

The INJ staking APR on Injective is 13.51% with over 60 million INJ staked.

Injective SDK has over 135,313 monthly downloads.

The total trading volume on exchange dApps on Injective reached $1.6 billion in July, with its peak daily volume on July 4th reaching $163.9M volume. The most liquid markets are BTC and ETH perpetuals.

Community Updates

The Injective ambassadors launched a mascot design campaign to collect creative ideas from the community.

Thirdweb, a full-stack Web3 development platform, featured Injective for their Onchain Olympics campaign. 

Four Pillars created an Injective Research Dashboard for users to get all the information about the Injective ecosystem in one place. 

Injective validator WhisperNode created a deep dive video about Injective burn auction and how to add assets to the auction basket. 

Conclusion

Thank you to the incredible community of Ninjas for their continued support and engagement. Stay tuned for more exciting updates next month. Together, let’s build the future 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.

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What if a single upgrade could revolutionize the entire layer one landscape? With Altaris, Injective turns this vision into reality.

The Altaris mainnet upgrade aims to redefine Injective as a whole with a host of new capabilities. This includes enhanced scalability for faster than ever transaction speeds alongside the introduction of the first RWA Oracle, bridging the gap between digital and traditional assets. But most importantly, Altaris revolutionizes the very economic framework of the Injective ecosystem, paving the way for a new era of Web3 finance.

The following sections delve into a few major components of the Altaris upgrade, highlighting their benefits, rationale, and overall impact.Introducing Injective Altaris, the most powerful mainnet upgrade to date.Altaris mainnet upgrade aims to revolutionize the layer one landscape, redefining Injective as a whole with a host of new capabilities from enhanced scalability to novel methods for asset tokenization.

Background

Altaris was made possible by the community voting in favor of Injective Improvement Proposal 420 (IIP-420). The proposal was not only met with immense enthusiasm but also witnessed one of the highest rate of governance participation in Injective history with over a $1 Billion worth of staked INJ used to vote in favor of IIP-420.

Altaris is the first major upgrade to Injective following Volan which launched in January of 2024 and aims to provide the most optimized and advanced version of Injective to date.

Optimized Network Performance and Developer Tools

At the core of Altaris is a substantial improvement in scalability, performance, and developer tools. Here are some key upgrades that make Injective more robust and versatile.

Enhanced Scalability

Altaris incorporates various optimizations designed to accelerate the chain speed and overall performance. Additionally, network infrastructure updates—such as more efficient data handling and better resource management—contribute to a more robust and responsive system. The confluence of these elements revolutionize chain level consensus flexibility, vastly improves performance and powers a more efficient developer experience.

Wasm 2.0 Integration

Developers will be particularly interested in the expanded smart contract capabilities. With the introduction of Wasm 2.0 support, the potential for creating sophisticated decentralized applications has grown significantly. This upgrade provides the tools necessary to build the next generation of innovative dApps on Injective.

Enriched Interoperability

Altaris also integrates IBC hooks and Packet Forward Middleware (PFM) to boost cross-chain capabilities. These additions significantly enhance interoperability, allowing Injective to seamlessly interact with other blockchains. This boosts the overall utility and flexibility of the Injective ecosystem, opening up new possibilities for cross-chain applications and collaborations.

Developer Toolkit Upgrade 

Updates to the Python, Go, and TypeScript SDKs support the Altaris chain version, enhancing developer capabilities. Additionally, the Injective-proto repository is updated with new proto definitions for seamless integration. These upgrades provide developers with more robust tools, enabling the creation of more sophisticated and efficient applications on Injective.

Real World Asset (RWA) Oracle

One of the most exciting additions is the integration of the Real World Asset (RWA) Oracle. This advanced oracle network expands Injective's capacity to offer tokenized asset offerings, ensuring that data feeds for these assets are both accurate and tamper-proof. This is crucial for the stability and security of financial transactions within the ecosystem. The implications of the RWA oracle are far-reaching, opening up new possibilities for applications that bridge the gap between blockchain and traditional finance.

Economic Enhancements

A number of capabilities introduced by Altaris focus on the economic structure of Injective itself from the introduction of an upcoming Universal Burn Auction to the release of Stake Grants, Injective fosters collaboration. Together, Altaris’s economic improvements optimize Injective’s token economy.

Universal Burn Auction

This new feature allows developers to create and launch pool auction contracts, enabling community-driven participation in the burn auction process. Additionally, INJ will be included in the auction basket, promoting a more dynamic and deflationary token economy. These adjustments are designed to optimize the burn auction process, ensuring a more efficient and inclusive system. 

Note: the pool auction process will require a separate on-chain governance proposal to be instantiated. Herein, details regarding this feature’s functionality will be provided in-depth. 

VIP Discount Structure

A tiered VIP fee discount schedule has been implemented for DEXs across Injective, offering steeper discounts at lower thresholds. Additionally, the maximum fee rate for all markets on Injective has been reduced from 10% to 5% or lower, benefitting all users regardless of status. The maximum fee rate has also been reduced by 50% across all markets on Injective DEXs.

This tiered structure is designed to incentivize higher levels of staking and trading activity, rewarding users with greater fee discounts as they move up the tiers.

Stake Grants

This innovative mechanism allows users to leverage stake from other community members to meet staking requirements for benefits across the ecosystem. For instance, a staker (granter) can now authorize portions of their stake for other traders (grantees) to use for exchange fee discounts on DEXs natively built on Injective.

A given trader’s staked amount for fee discounts can now be calculated as follows:

Total Stake = Own Stake + StakeGranted from Granter - StakeGranted to Others

Coupled with the new VIP fee discount tiering, these changes promote a more collaborative environment, encouraging greater participation and engagement across the network. 

Security and User Experience Improvements

Security and user experience remains a top priority for Injective, and the Altaris upgrade delivers a monumental leap on this front.

Injective Bridge Updates

The Injective Bridge has been strengthened for better performance, security, and reliability. Additionally, bridge management has been upgraded with the introduction of new messages and mechanisms to increase the efficiency of updates to the Injective Bridge.

Ledger Hardware Wallet Support

Ledger hardware wallet support has been seamlessly integrated via CLI, providing users with a secure and convenient transaction option.

Advanced Market and Trading Features

For the trading community on Injective, several features have been introduced to enhance trading experiences across the network:

Streamlined process for launching new perpetual markets on native DEXs

Support for partial liquidations across DEXs, allowing for more flexible trading

Better margin reduction capabilities for more effective position management

Miscellaneous

A number of other features are included in Altaris, such as governance optimization. A full list of the updates can be found on the IIP-420 page on the Injective Hub here.

Looking Ahead

The Altaris upgrade is more than just a technical improvement—it's a testament to Injective's unwavering commitment to continuous refinement and advancement. Where others see limitations in crypto, Injective sees possibilities. While some platforms struggle with scalability, Injective thrives on it. In a space often divided between innovation and security, Injective unites them.

Through improvements in scalability, data reliability, economic mechanisms, security, and user experience, Injective is strategically positioning itself at the forefront of the on-chain financial revolution. Altaris serves a dual purpose: it not only enhances current functionalities but also lays a robust foundation for future growth and widespread adoption. This forward-thinking approach reinforces Injective's vision of fostering a more inclusive and powerful global financial system.

As the industry continues to progress, Injective remains dedicated to expanding the boundaries in this space. The Altaris upgrade is poised to catalyze the emergence of innovative applications and use cases, further elevating the Injective ecosystem to new heights.

The future of finance is not a distant prospect—it's unfolding now, and Injective stands at the cutting edge of this transformation. With each upgrade, with each new feature, Injective shapes the landscape of Web3 finance. As Injective moves forward, the potential for groundbreaking developments only grows.

Stay tuned, for this is just the beginning. The on-chain revolution is here, and Injective is leading the charge. Join the journey and join the future of finance with Injective.

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.

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Today, Mountain Protocol is launching on Injective to bring the first native yield-bearing stablecoin (USDM) into the Injective ecosystem.

Users can now leverage USDM for a diverse array of dApps built on Injective while still earning yield from treasury bills. Potential use cases include using USDM for margin when trading derivatives, using the asset for lending protocols or deploying assets into various money market platforms on Injective.

What is Mountain Protocol?

Mountain Protocol is the issuer of USDM, the first permissionless yield-bearing stablecoin. Backed by Multicoin Capital, Coinbase Ventures, and Castle Island Ventures, Mountain Protocol launched in 2023 with a vision to enable stablecoin holders to own the “risk free rate” through a secure, regulated, enterprise-grade product. 

Historical Context

Typically, stablecoins are designed to maintain a stable value relative to a specific asset. While there are multiple ways to peg a stablecoin, the most straightforward one is to have a stablecoin backed by a reserve of fiat currency. These reserves are typically held in bank accounts or in other low-risk, liquid assets, such as treasury bills, to ensure stability.

In many cases, if a stablecoin’s reserve is held in treasury bills, which earn a specific yield as defined by the US Treasury, the issuer of the stablecoin receives that yield. With USDM, Mountain Protocol turns this this common practice on its head by offering the yield back to the user, which currently sits at 5%. 

What is USDM? 

USDM is a stablecoin backed by treasury bills, providing a secure foundation. Unlike most other stablecoins, USDM allows users to earn and retain daily interest on their holdings.

Currently with USDM, users are able to receive a 5% yield on their principal. Users who hold USDM in their wallets will automatically receive this yield through a process called rebasing.

How does USDM work on Injective?

USDM will be bridged into the Injective ecosystem as wUSDM. This wrapped version will reflect the current USDM price and include the yield in its price.

This in effect will lead to a more seamless flow for end users on Injective, since rebasing would not be necessary. Instead, wUSDM will steadily increase by 5% annually, with daily increments reflected in its value on Injective, providing users with the same consistent 5% annual yield as USDM.

This difference for wUSDM is standard and expected.

Any Injective user will also be able to unwrap their wUSDM and convert it back to USDM, receiving the stable USDM asset along with the accrued yield.

Powering New Tokenized Use Cases on Injective

This integration unlocks a number of novel use cases on Injective. A prime example of this is the ability for USDM to be utilized as margin for trading derivatives on DEXs built on Injective. Not only does this allow traders to earn yield while trading but it also marks the first time in history that USDM can be used as margin for trading derivatives. Now for instance, users trading with USDM on Helix can participate in on-chain markets, such as BTC/wUSDM Perp, while still earning yield.

Use cases such as the one illustrated above can significantly enhance capital efficiency and passive yield generation for users. In addition, utilizing USDM on Injective can potentially reduce opportunity costs, improve risk management by offsetting potential losses with yield, and boost market liquidity and stability.

To see an example use case for USDM in action, click here. 

RWAs on Injective

The integration of Mountain Protocol with Injective and the introduction of USDM into the Injective ecosystem mark a significant milestone in the evolution of asset tokenization on Injective. This collaboration bridges the gap between traditional and on-chain finance, creating a seamless pathway for users to interact with both models in tandem. The availability of a regulated, yield-bearing stablecoin like USDM within the Injective ecosystem enhances tokenized offerings on Injective, cementing its position as the blockchain built for finance.

The integration of Mountain Protocol and Injective, along with the introduction of USDM, heralds a new era of innovation and convergence in the financial world. As TradFi and DeFi continue to merge, Injective will continue to play a crucial role in shaping the future of 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.

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Injective is excited to announce the launch of AINJ, the Injective Staking Exchange-Traded Product (ETP) by 21Shares. AINJ is a groundbreaking new product that allows users to gain exposure to INJ via major traditional finance exchange venues and brokerages while also capturing staking rewards. This product represents a pivotal step forward in Injective’s commitment to integrating with traditional markets and institutions. 

AINJ is provided by 21Shares, a primary issuer of crypto ETPs. 21Shares has a strong track record of working with the largest crypto projects in the space, bringing innovative financial products to market and facilitating greater institutional involvement in the digital asset space. 21Shares has recently been one of the main institutions to spearhead efforts for the Bitcoin ETF alongside Cathie Wood’s Ark Invest with over $3 Billion of assets under management for this product offering alone. Their experience and reputation ensure that AINJ is backed by a reliable and established partner.

The introduction of AINJ is a significant milestone for institutional adoption, opening new gateways for large-scale entities to engage with Injective. This regulated, transparent product simplifies institutional participation and is already supported by some of the world’s leading traditional finance exchanges and brokerages such as Interactive Brokers, Saxo Bank, Swissquote, and eToro, among others.

Currently, there are only a handful of select crypto assets with one or more associated ETPs globally. This highly selective pool of assets underscores the importance and innovation behind AINJ, as it joins an exclusive list of offerings that provide institutional and everyday participants with access to the burgeoning digital asset landscape.

What is an ETP?

Exchange Traded Products (ETPs) are a class of financial instruments traded on stock exchanges that provide exposure to various underlying assets without the need to own them directly. These assets can range from stocks and bonds to commodities and crypto assets. ETPs offer a straightforward way to participate in a diversified portfolio, combining the ease of stock trading with the benefits of mutual funds.

Types of ETPs

ETFs (Exchange Traded Funds): Track the performance of a specific index, sector, or commodity. They are designed to mimic the returns of the underlying assets they represent.

ETCs (Exchange Traded Commodities): Provide direct exposure to commodity prices. They can track single commodities like gold or a basket of commodities.

Benefits of ETPs

Diversification: ETPs allow for exposure to a broad range of assets, spreading risk across various sectors and asset classes.

Liquidity: ETPs are traded on stock exchanges and can be bought and sold throughout the trading day at market prices, providing higher liquidity.

Transparency: ETPs typically disclose their holdings daily, providing clear insights into the underlying assets and ensuring transparency.

Cost-Effectiveness: ETPs generally have lower expense ratios compared to mutual funds. This cost efficiency stems from their passive management structure.

Structures of ETPs

The Physically Backed Injective ETP

Physical ETPs: Hold the actual underlying assets they track, ensuring a direct correlation with the asset and reducing counterparty risk. However, this structure may incur higher operational expenses due to the costs of physical storage and potentially face liquidity challenges. In the context of blockchain, these disadvantages are less prevalent due to the nature of digital assets. AINJ is a physically backed ETP for example.

Synthetic ETPs: Use financial derivatives (e.g., swaps, futures) to replicate the performance of underlying assets. This approach is traditionally more cost-efficient and provides access to otherwise hard-to-trade assets. The trade-off includes increased counterparty default risk and added complexity due to the use of derivatives, which can reduce transparency.

How AINJ Works

Provided by 21Shares, AINJ offers a unique way to gain exposure to INJ in a regulated environment. By combining the benefits of staking with the convenience and efficiency of an ETP, AINJ is a comprehensive and dynamic instrument for benchmarking INJ.

Staking Yields: AINJ captures the staking yields generated by staking INJ to secure the Injective network. These staking rewards are then reinvested into the ETP.

100% Physically-Backed: AINJ is structured as a Physical ETP, backed 100% by the underlying INJ and kept in cold storage by an institutional-grade custodian. Digital assets have low storage costs, allowing AINJ to offer the most direct correlation to its underlying asset without increased operational expenditures.

Regulated and Transparent: AINJ operates within a regulated framework, ensuring all transactions and holdings are clear and accessible.

Convenience and Efficiency: By trading AINJ on stock exchanges, buying and selling the ETP is easily conducted throughout the trading day. This flexibility provides a convenient and efficient way to gain exposure to INJ and the associated staking rewards without the complexities of directly managing staking processes.

Accessibility: AINJ is supported by 25 different banks and brokerages, trading on both the Euronext Amsterdam (AINJ NA) and Euronext Paris (AINJ FP).

Notable Banks and Brokerages Supporting AINJ

Exchanges and brokerages supporting AINJ

Interactive Brokers (IBKR): With approximately 2.5 million clients across 200 countries and territories, IBKR manages over $370 billion in assets and supports 150 exchanges. 

Saxo Bank: Serving over 1 million retail and institutional clients, Saxo Bank operates in numerous countries, supporting trading in over 40,000 financial instruments across multiple asset classes, and powers over 200 banks and over 400 financial intermediaries. 

Swissquote: A leading Swiss online bank, Swissquote manages assets worth over CHF 50 billion (~$55 billion), serves over 570,000 clients​​, and offers over 3 million different products.

eToro: With a user base exceeding 30 million across more than 100 countries, eToro manages billions in assets and is known for its social trading features.

These institutions offer robust infrastructure for the Injective Staking ETP, exemplified by their substantial AUM, extensive client bases, and wide geographical reach. With an established presence in the financial industry, their participation underscores Injective’s commitment and progress in integrating with traditional markets and institutions.

Conclusion

AINJ represents a significant advancement in providing broader and more efficient access to the performance and staking rewards of INJ, the native asset of the Injective ecosystem. By leveraging the benefits of both physical backing and staking yields, AINJ offers a unique opportunity within a regulated and transparent framework. Supported by some of the largest banks and brokerages, AINJ exemplifies Injective’s commitment to integrating with traditional financial markets while advancing the possibilities within decentralized finance.

Explore AINJ today to experience the innovative benefits of the Injective Staking ETP.

Legal Disclaimer

This article is intended for informational purposes only and is not: financial or investment advice; an offer to buy or sell any product; or an endorsement of any product.  

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.

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The inaugural Injective Builder House was a resounding success, marking a significant milestone for the Injective community. Held in Brussels, during EthCC, this full-day event brought together industry leaders, developers, and community members from all corners of the Injective ecosystem.

The event took place in a stunning industrial building located right by the Canal de Bruxelles. With floor-to-ceiling windows overlooking the canal, the venue was bathed in natural sunlight, creating an energetic and bright atmosphere that perfectly matched the day’s lively spirit.

Upon entering, attendees were greeted by an impressive display of exclusive Injective merchandise, specially printed for the event. To the right, a selection of sweets was available to keep energy levels high throughout the day. 

To the left, the main floor featured a stage with stadium seating, allowing attendees to comfortably watch the day's extensive schedule of programs. 

Upstairs, a large open workroom was designed for meet and greets and workshops, complemented by a coffee and snack station available all day.

A Day Packed with Insights and Learning

The Injective Builder House featured two distinct schedules: a series of panels and talks on the main stage, and hands-on workshops on the second floor.

Panels and Talks

The main stage hosted a full day of panels and talks, each meticulously curated to provide builders with specific insights. Attendees gained valuable knowledge about the Injective ecosystem and received practical advice from industry leaders. 

Opening Ceremony

The day began with an opening ceremony led by Eric Chen, CEO and co-founder of Injective Labs. He provided an insightful overview of Injective, emphasizing its unique position as a blockchain built specifically for finance and how it differs from any other blockchain network. 

Eric also highlighted Injective's remarkable growth over the past year. He showcased how daily transactions on the network surged from 586,000 to 3 million, and how the amount of INJ staked nearly doubled from 30 million to 58.8 million, representing over $1 billion in today's value compared to around $38 million last year. 

With these growth metrics, it’s no surprise that the focus for this year is to onboard the best developers within the industry and allow them to access this primed ecosystem. 

Smart Contracts Unleashed

Markus Waas, Core Engineer at Injective Labs, then took the stage to provide an in-depth overview of smart contracts on Injective. He explained that while certain core functions are natively implemented in the chain, it's not feasible to build the entire financial world directly onto the chain, which is where developers and smart contracts come into play. 

Markus delved into the technical specifics of Injective’s unique WebAssembly-based framework, highlighting how it differs from Solidity smart contracts and emphasizing its advantages for building diverse and complex financial applications.

Built to Last: Creating Long-Term Value in Crypto

Once the morning program concluded, the rest of the day was dedicated to hosting riveting conversations, all aimed at disseminating valuable information from industry leaders and fostering innovative discussions. 

The first of these standout sessions featured industry heavy hitters: Robinson Burkey from Wormhole Foundation, Matt Sorg from Solana, Marc Tillement from Pyth, and Eric Chen from Injective Labs. With years of experience navigating the ups and downs of the crypto industry, these experts shared their insights on what it takes to create long-term value and achieve true "Product Market Fit" in the blockchain space. Their collective wisdom provided attendees with a deeper understanding of building towards sustainable growth and innovation over time.

Scaling Institutional Capital in Web3 Finance

A highly anticipated panel for DeFi builders was "Scaling Institutional Capital in Web3 Finance," and the panelists from Selini Capital, Keyrock Trading, and IMC Trading did not disappoint. 

They demystified the mechanics of institutional capital inflow into crypto and offered compelling insights into the next industry-leading products, sharing their predictions on which types of innovations are poised for success.

Injective today serves as a major gateway for institutional capital formation on-chain with an innovative shared liquidity layer that aggregates best in class liquidity for all new applications to leverage with ease.

RWAs in Action: Bridging Traditional Finance and Blockchain

Delving deeper into emerging innovations, panelists from Galaxy Digital, Mountain Protocol, Ondo Finance, and rwa.xyz took the stage to discuss Real-World Assets (RWAs) and the groundbreaking advancements emerging in this sector of the crypto industry.

Panelists covered a broad range of topics, including the revenue models of RWA protocols, the pathway to standardizing RWAs and tokenized TradFi assets, and strategies for bringing RWAs even closer to mainstream adoption.

Injective offers the world's first RWA module, enabling institutions and users alike to rapidly launch tokenized offerings with custom capabilities embedded from day one. In fact, Injective today powers the most liquid on-chain markets for a number of tokenized assets such as gold, silver, Euros, Yen and more.

Novel Primitives in Crypto

Taking a step back to examine the broader landscape, the panel on "Novel Primitives in Crypto" explored some of the newer yet rapidly adopted primitives within the blockchain space. Panelists from Noble, Babylon, and XION discussed how each is pioneering unique aspects of blockchain technology and the challenges they face in pushing boundaries even within this innovative industry.

Injective is working alongside a number of the participants to pioneer new primitives in crypto whether it be chain abstraction with XION, new asset issuance with Noble or Bitcoin restaking with Babylon.

Web3 Ventures Demystified: Trends, Narratives and More

The day concluded with a panel moderated by Mirza Uddin of Injective Labs, featuring members from Pantera, Hashed, and Protagonist. They tackled one of the most pressing questions for developers: how to transform an idea into a viable project and secure funding. Each panelist offered valuable insights into this often opaque process, highlighting key metrics and criteria that VCs look for in new projects.

The discussion wrapped up with panelists sharing their "hot takes" on which emerging trends are overrated and which are underrated, sparking a lively and competitive discourse among the group.

Hands-On Workshops

Upstairs at the venue, the workshops provided an interactive experience where developers and teams could engage directly with experts. These sessions offered hands-on time to address specific blockers, learn how to jump-start projects, and receive personalized guidance. 

Injective’s Developer Toolkit: An In-Depth Exploration

Injective Labs engineer, Ivan Angjelkoski, kicked off the workshops by giving an in-depth presentation on Injective’s robust developer toolkit, with technical walkthroughs on launching dApps, interacting with APIs and more. 

Securing Rollup Interoperability with Restaking

Yorke Rhodes IV, Senior Software Engineer at Hyperlane, then led a session on rollup interoperability. In particular he delved into Hyperlane’s permissionless interoperability capabilities which today enables the seamless migration of assets onto Injective from a number of disparate blockchain networks.

Indexing Injective Data with The Graph

Enol Alvarez, Developer Relations Engineer at The Graph, led a hands-on workshop with a step-by-step tutorial on utilizing the Graph Node to extract data from Injective. Developers had the opportunity to directly ask Enol about creating new subgraphs powered by Substreams, making the session highly interactive and informative.

Building a Tech Titan: A Startup’s Journey to Scalability

For developers who are also founders, David Josse, Head of Engineering at Injective Labs, delivered an enlightening session on how to not only build a great product but also grow it into a sustainable, long-lasting company. David guided participants through some common, but often overlooked pitfalls, and offered strategies to avoid them and shared expert advice on effectively scaling a product's tech stack.

Bridging Traditional Finance with Injective: Technical Insights

Segueing seamlessly into the next workshop, Bojan Angjelkoski, lead front-end developer at Injective Labs and one of its longest-serving developers, delivered a session packed with technical insights on Injective. Bojan offered invaluable guidance on leveraging Injective's technology to bridge the gap between traditional finance and the Injective ecosystem, providing participants with a deep understanding of the platform's capabilities.

Pulling The Data That You Deserve

One of the core modules on Injective is Pyth, and Aditya Arora, Head of Developer Relations at Pyth Data, delivered an informative session on leveraging Pyth to integrate real-time data into any DeFi application built on Injective.

Building a dApp with Network Effects

To conclude the day, Andi Stan, Product Advisor at Timeworx, delivered a compelling presentation on how network effects serve as a major propellant for business strategy. He detailed the various types of network effects and explained how they create a feedback loop, providing incremental benefits to existing users as new users join, thereby strengthening the product’s value proposition.

A Day to Remember

The event was bustling with activity, with workshops and panels consistently filled with enthusiastic attendees. The wealth of knowledge shared throughout the day was immense, and each panel will soon be available online for everyone to watch and benefit from.

The day concluded on a high note with a closing party, where Injective Labs CEO Eric Chen took to the decks, spinning tracks and ending the event with a celebratory vibe.

The first Injective Builder House was not just an event but a celebration of community, learning, and innovation. It successfully connected industry leaders and community members, amplifying excitement for Injective’s mission to democratize finance through decentralization. This remarkable day has set the stage for many more impactful Injective events to come this year and beyond.

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.

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Welcome to the June Community Update! This month was chock-full of groundbreaking developments for both Injective and the Injective ecosystem. Suffice to say, June gave the community a lot to get excited about. So much so, it’s important to revisit each and take stock of the significant progress achieved. 

On the chain side, Injective had a big month. This included the release of INJ: A Programmable Token Economy for Deflationary Acceleration, Injective’s first public facing paper since 2018, comprehensively detailing the token economic design of INJ. Additionally, Injective hit a massive milestone, crossing the 6,000,000 INJ burned mark. This was celebrated worldwide with billboards appearing in NYC, Bangkok, Lagos, Ho Chi Minh City, Seoul, and Hong Kong. To top it off, Injective announced something to get the community ready for a big July – The Builder House. If you’re heading to EthCC this month, you won’t want to miss this. Mark your calendars for July 10th!

Adding to this momentum was the relentless building within the Injective ecosystem. Mito's introduction of Permissionless Vaults empowered users and projects to leverage its platform autonomously, marking a massive upgrade for DeFi on Injective. Making a big splash in the Injective DEX sector, Bitoro announced its integration with the ecosystem. Meanwhile, the Graph revealed its integration with Injective, providing developers with yet another powerful tool to add to their arsenal. To round it all out, Injective announced another thing for their community to get excited about for the months to come – the Ronin role. Not a technical writer, but hugely interested in and engaged with the Injective community? This is the role you’ve been waiting for.

Again, a lot happened this month. Each event on its own could take up this entire post. As the key takeaways of each are rounded up, keep this in mind and check out the resources section to dive deeper into anything that catches your eye. In the meantime, Injective will keep shipping, stacking win after win, continually raising the bar for decentralized excellence.

Celebrating 6M INJ Burned & The INJ Tokenomics Paper

At the beginning of the month, Injective published INJ: A Programmable Token Economy for Deflationary Acceleration. This comprehensive analysis details the economic design of INJ, outlining its utilities, supply mechanics, and the expansive token burn system. The paper highlights how the INJ 3.0 upgrade perpetuates deflationary characteristics, providing deep insights into Injective’s token economy. The following week, Injective crossed the 6,000,000 INJ burned mark. Alongside this, billboards across the globe lit up with news of the milestone, and the online community came out in numbers to join in the celebration. 

If you want to fully understand the impact of this achievement, reading through the token mechanics of INJ in the tokenomics paper is highly recommended. Not convinced? Let’s consider just the last six months of Burn Auction activity. 

In this time, the amount of INJ burned on a weekly basis has nearly quadrupled, growing by 274%, increasing by 5.85% week-over-week on average. The tokenomics paper puts this into context, demonstrating how Injective’s Burn Auction is just one part of a carefully constructed token economy that encapsulates a sustainable and thriving Web3 ecosystem. 

For the Ninja Community

This month, Injective announced two initiatives designed to excite the community and provide greater opportunities: the Injective Builder House and the introduction of the Ronin Role. Every single person is vital for driving forward the future of Injective, and these initiatives are designed to recognize and empower all involved. Whether you’re a builder or a dedicated community member, Injective delivered this June. 

The Injective Builder House 

The Builder House is a dedicated space for developers and innovators within the Injective ecosystem. It aims to provide resources, support, and collaboration opportunities for those looking to build on Injective. Events such as this are a testament to Injective’s hands-on approach to support and engagement with projects building on it. This commitment speaks for itself, as developer activity on Injective has grown by 319.14% in the last two months alone! With that in mind, this event could not be happening at a better time for the community.

The Injective Builder House will be held as a one-day event on July 10th at EthCC in Brussels, providing an exciting opportunity for developers to connect and innovate. Be sure to stop by and witness Injective’s energetic community in action if you’re in the area!

The Ronin Role 

The Ronin Role is a special designation for community members who actively support and contribute to the ecosystem. This role is awarded to the most engaged members and comes with several exclusive benefits.

Access to an exclusive Telegram group with Injective Labs core team members

Opportunities for virtual hangouts with team leaders

Early access to new projects and dApps

Grants the prestigious Ronin role on the Injective Discord server 

You can earn the Ronin role by engaging in quality discussions, participating in community events, testing new dApps, and helping new community members. Check out the Injective Discord for more information on this exciting opportunity!

Injective’s Relentless Ecosystem

The trend of nonstop building continued this month within the Injective ecosystem. Several key integrations and upgrades occurred, each of which are poised to uniquely benefit users and developers alike. For chains, it’s essential to deliver on agility, as developers need to have access to best-in-class tooling so they can focus on customers. Injective recognizes this, exemplified by its persistent integration of new dApps and infrastructure. The resulting trickle-down effect is superior solutions built by projects on Injective. In June, this agility was again demonstrated, with notable events in each category: infrastructure onboarding, new dApps, and superior solutions. 

The Graph Integration – Infrastructure

Injective has integrated with The Graph, enhancing data querying capabilities. This integration allows developers to access and analyze blockchain data more efficiently, fostering a more robust and user-friendly development environment. The Graph's integration supports a wide range of applications, from DeFi protocols to NFT projects, enhancing the overall functionality and accessibility of data within the Injective ecosystem.

Bitoro Integration – dApps

Decentralized derivatives trading platform Bitoro joined the Injective ecosystem, announcing the launch of BitoroPro. With BitoroPro, users can leverage institutional-grade liquidity across perps, spot and swaps, including futures on RWAs – all powered by Injective. 

This integration exemplifies the importance of continually growing the ecosystem of dApps on Injective. In the case of Bitoro, additional liquidity and trading opportunities being brought to the platform will enrich the trading experience for all users, expanding the ecosystem’s diversity and functionality.

Mito Permissionless Vaults and Ethena Sats – Superior Solutions

This month, Permissionless Vaults went live on Mito, empowering users to create and manage their own vaults without any intermediary. To support the efforts of those interested, Mito delivered a tutorial on how to create a permissionless vault, as well as documentation to assist developers in integrating with these vaults from their own dApps. 

Additionally, Ethena launched its Sats program, providing stakers of $USDe-$USDT LP to be rewarded with 15x Sats (Ethena points). In tandem, Ethena Labs retroactively rewarded these LPs with Sats since genesis. In this case, Mito exemplified what providing superior solutions to end users should look like — better products, better support.

Full List of Injective Updates 

Ecosystem Updates

DEGA went live on Injective to enable buidlers to rapidly design and publish games.

Tria launched on Injective to enhance UX for dApps and users.

Hallswap, an innovative DEX aggregator, has processed over $300 million in volume on Injective.

Paypal’s stablecoin, PYUSD, has integrated with Injective.

Helix started an exclusive campaign on Drops with a $10,000 prize pool.

New GameFi platform, Jutsu World, launched on Injective. 

Injective Updates

Injective released the first ever comprehensive tokenomics paper on the Injective (INJ) token.

Injective processed over 75 million blocks. 

Injective surpassed 739 million on-chain transactions. Notably, it recorded 3.1 million transactions in a single day on June 17th.

Injective reached over 220,000 unique delegates.

Injective has over 58.8 million INJ staked.

A total of 48,316 INJ was burned through weekly burn auctions in June, and a total of 6.02 million INJ has been burned to date with over 155 burns.

The INJ staking APR on Injective is 14.09% with over 58.5 million INJ staked.

Injective SDK has over 22,000 weekly downloads.

The total trading volume on exchange dApps on Injective reached $2.3 billion in June, with its peak daily volume on June 11th reaching $137.1M volume. The most liquid markets are BTC and ETH perpetuals.

Community Updates

Injective will host its first Injective Builder House in Brussels on July 10th, 2024.

Eric Chen, Injective Labs Co-Founder & CEO, gave a keynote address at Consensus by CoinDesk on the future of finance.

Mirza Uddin, Head of Business Development of Injective Labs, joined the Chain Abstraction online panel.

Injective celebrated the 6 million INJ burn milestone by taking over global major cities, including New York City, Seoul, Hong Kong, Ho Chi Minh City, and Bangkok.

DoraHacks published a comprehensive Injective ecosystem deep dive report. 

Injective ambassadors BK and Vitalli were promoted to Injective Master Ambassadors, the highest ninja rank.

A brand new Ninja Masters Referral Program has been introduced within the Injective ambassador program. 

Conclusion

Thank you to the incredible community of Ninjas for their continued support and engagement. Stay tuned for more exciting updates next month. Together, let’s build the future 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.

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Injective is now available on The Graph’s decentralized network through a Firehose and Substreams integration, enabling millions of developers to scale their dApps using on-chain Injective data.

This collaboration marks a significant leap forward in the quest to enhance developer capabilities on Injective. As the first IBC-compatible chain to harness The Graph’s powerful indexing solutions, Substreams and Substreams-powered subgraphs, Injective is setting a new standard for data accessibility and application development.

Streamlined Data, Empowered Developers

The Graph is known for its robust indexing and querying data from blockchains, allowing developers to efficiently and securely access blockchain data necessary for application development. It enables the creation of dynamic and responsive decentralized applications by facilitating easy data retrieval through a global network of open APIs.

Together with The Graph’s state-of-the-art Substreams and Substreams-powered subgraph solution, developed by StreamingFast, Injective provides developers seamless access to on-chain data in a more efficient manner. This integration enables developers to tap into a comprehensive data suite, enabling them to create more sophisticated and dynamic applications. 

How Substreams Work

Substreams, powered by The Graph, is a powerful tech stack designed to enhance blockchain data accessibility by allowing developers to create custom data pipelines. These pipelines preprocess and refine blockchain data into formats that are optimized for specific use cases, improving the speed and responsiveness of dApps that rely on this data. 

With the combined power of The Graph and StreamingFast, developers on Injective can leverage a high-performance data infrastructure to access any on-chain data with unprecedented efficiency. In addition, Substreams-powered subgraph support allows developers to tailor data feeds and process both historical and real-time data, which are critical in developing advanced Web3 applications (ex: DeFi protocols, RWA apps, DEXs, etc). The integration ensures that the dApps built on Injective are not only robust but also extremely responsive, providing users with smooth and efficient user experiences. 

Get Started Indexing Injective Data with The Graph

You can access extensive Injective on-chain data with Substreams. Get started here and learn more on StreamingFast’s blog.

Pioneering Open Data

As one of the first ever non-EVM chains to integrate with The Graph, Injective underscores its commitment to leading Web3 innovation. 

This collaboration with The Graph and StreamingFast is just one of the many steps Injective is taking to provide the most advanced and developer-friendly environment in the blockchain space. Moving forward, Injective will keep pushing the boundaries of what is possible in Web3 and beyond, ensuring that the community and builders always have access to the cutting-edge technologies they need.

Stay connected with us on Twitter for more updates and join us in forging a path towards a more interconnected and decentralized future.

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.

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Injective is thrilled to announce the Injective Builder House, a groundbreaking event uniting core Injective developers, key industry partners, VCs, and more. This one-day event will provide an exclusive hands-on opportunity to kickstart your builder journey on Injective while also getting direct connections to core contributors, VCs, liquidity providers, and angel investors in the industry. 

In conjunction with ETHCC, The Injective Builder House will take place in Brussels on Wednesday, July 10th, inviting builders, new and old, to join the Injective mission to democratize finance through decentralization. 

Injective Builder House: A Hub for Innovation

Date: July 10, 2024

Time: 9am - 6pm CET

Location: K1, Brussels 

Register to attend: https://lu.ma/InjectiveBuilderHouse

The Injective Builder House is a dedicated day and space for developers, entrepreneurs, and blockchain enthusiasts to come together and explore the future of decentralized finance. This event will feature expert-led workshops, insightful panel discussions, and ample networking opportunities.

Participants will be able to connect directly with some of the largest names within the industry and receive hands-on support with any technical questions. The Injective Builder House will pull back the curtains on questions like “How do I access and integrate the Injective Chain API” to “How can I ensure my project has enough liquidity” to “What do industry leads believe is the next trend in Web3”. By bringing together a diverse group of core contributors and projects on Injective, the Injective Builder House will serve as a melting pot of ideas and innovations that will drive the ecosystem forward. 

Why Attend?

The Builder House is not just an event; it’s an experience. Participants will have the chance to:

Learn from the Best: Engage in workshops led by top developers and industry experts.

Network with Peers: Connect with like-minded individuals who are passionate about blockchain, Web3 and DeFi.

Get Inspired: Attend panel discussions that explore the latest trends and future directions of the industry.

Collaborate and Innovate: Work on projects in real-time, with access to mentors and resources that can help bring your ideas to life.

The Injective Foundation is committed to supporting the developer community, and the Injective Builder House is a testament to this commitment. By providing a platform for collaboration and knowledge sharing, Injective aims to empower developers to build groundbreaking applications that can transform the world of finance.

Why Build on Injective?

Injective is the fastest L1 blockchain for finance that brings together speed, security and interoperability.

Injective uniquely provides custom plug-and-play modules such as the world's first on-chain orderbook. Developers can utilize these modules to rapidly deploy new dApps that otherwise may have taken months or even years to build.

Injective stands out as a premier platform for building Web3 applications due to its unique combination of speed, security, and interoperability. Its robust infrastructure is optimized for high transaction throughput, ensuring that applications can scale seamlessly and handle large volumes of transactions with minimal latency alongside the lowest fees.

Injective’s highly interoperable network further enhance its appeal. Being compatible with a wide range of blockchain networks, Injective allows developers to create applications that can seamlessly interact with assets and data across multiple blockchains.

Injective offers a comprehensive suite of development tools, including extensive documentation, SDKs, and APIs, making it easier for developers to build and deploy their applications. The platform supports both Ethereum-based smart contracts and Cosmos SDK modules, providing flexibility and power for developers.

Join Us in Brussels on Wednesday, July 10th, 2024

The Injective Builder House is set to be a landmark event in the blockchain industry event calendar. Whether you're a seasoned developer, an aspiring entrepreneur, or a blockchain enthusiast, this event offers a unique platform to learn, innovate, and connect.

Don’t miss this opportunity to be part of the future of blockchain technology. Register for the Injective Builder House today! 

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.

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gumi, one of the largest Web2 gaming publishers worldwide, is joining Injective as its latest validator. This marks a significant addition to the leading group of global validators powering Injective, which is now one of the largest proof-of-stake (PoS) networks in history.

gumi boasts millions of active gamers across some of the most popular mobile gaming titles to date. Now, gumi aims to pioneer a new era of GameFi alongside Injective.

What is gumi?

As the leading Japanese mobile game company, gumi has not only been a major player in the mobile online gaming industry but has recently begun to extend its reach into exploring innovative Web3 technologies.

gumi has worked to create some of the largest mobile games to date, and in the recent years, gumi has also ventured into Web3 gaming and built out a venture arm that includes investments across gaming, VR, AR and more.

gumi’s Value in the Injective Ecosystem

gumi’s onboarding will further develop Injective’s international footprint in Japan, where over five million people own crypto. This collaboration also opens exciting new avenues for Web3 gaming, as gumi plans to bring its expertise and traditional gaming users into the Injective ecosystem. gumi will undoubtedly play a key role in paving the way for Injective's global expansion across Japan, Asia and beyond.

Furthermore, institutional Web2 validators like gumi are crucial for increasing the fast-growing institutional inflow into the broader Injective ecosystem. Injective aims to integrate the best of Web2 into Web3, and gumi is another step towards making that vision a reality.

With the onboarding of gumi, Injective continues on its path of rapid global expansion and remains at the forefront of the Web3 industry.

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.

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About gumi Inc. 

gumi is one of the largest mobile game publishers worldwide. In the mobile online game business, gumi develops original titles as well as third-party IP titles. In the blockchain business, gumi develops blockchain games and invests in cutting edge tech sectors.

It has never been easier to onboard onto Injective. Whether you are a backend or frontend developer, a smart contract engineer, or a node operator, Injective offers an unparalleled experience for all. This guide provides an introduction to building on Injective, along with links and references to where you can do a deeper dive into the topics that interest you most.

1. An Intro to Smart Contract Development and Installing injectived

Smart contracts on the Injective blockchain represent a next-generation, highly interoperable framework.

Injective's WebAssembly (WASM) smart contract layer provides a vast range of financial primitives, such as shared on-chain liquidity, oracle price feeds, cross-chain bridging, and unique execution capabilities, enabling the development of sophisticated decentralized applications (dApps).

A unique feature of Injective is its support for self-executing smart contracts, a novel primitive that expands application design possibilities and allows for the creation of fully decentralized, permissionless applications. Injective is also designed to facilitate blockchain interoperability, enabling seamless integration and cross-chain communication, thereby opening up new possibilities for innovative products and services that leverage the advantages of multiple blockchain networks simultaneously. Injective's commitment to blockchain interoperability, along with its sophisticated smart contract platform and financial infrastructure primitives, positions it as a leading force in the development of a more open, equitable, and decentralized financial system.

To get started developing Wasm native smart contracts, injectived must first be installed. injectived is the command-line interface (CLI) and daemon that connects to Injective, allowing developers to interact with it. It is essential for node/validator operations, programmatic account creation, funding accounts, and smart contracts launches on Injective. The documentation provides instructions for installing injectived using a Docker image, which simplifies the setup process for developers. However, if you prefer not to use Docker, you can install injectived from the binary and follow the provided installation instructions. The documentation also includes tips for using injectived with both the Injective mainnet and testnet via specifying the correct --node flag for each.

The linked documentation above also covers the basics of creating and interacting with smart contracts on Injective, including the structure of a basic smart contract and how to deploy it via injectived. It provides examples of Wasm based smart contracts, including a counter contract that increases and resets a counter to a given value. Other great resources for learning CosmWasm development include, CosmWasm Academy and Area-52, two great online and free courses.

2. Frontend Development and Getting Started with the Injective TypeScript SDK

Frontend development on Injective involves creating user interfaces that interact with the blockchain, allowing users to perform various actions such as managing assets, creating permissionless markets on Injective dApps, querying data from the blockchain, and more. The Injective TypeScript SDK (injective-ts module) provides a set of tools and libraries that simplify the process of building these interfaces. The best resource for getting started with the Injective TypeScript SDK is the documentation. Here you will find everything you need to successfully develop your first dApp on Injective.

Two links to highlight are the injective-ts-examples GitHub repo to view basic examples, such as how to send a transaction and query data on Injective. And the second, “Building dApps” section, to learn how to build a an application such as a DEX from scratch, as well as creating a smart contract and interacting with it via the injective-ts module.

3. API Trading and Getting Started with the Injective Python SDK

API trading across dApps built on Injective involves programmatically executing trades, managing orders, and accessing market data through the Injective API. The Injective Python SDK provides a convenient way to interact with the Injective API, allowing developers to build trading bots, automate trading strategies, and integrate Injective's capabilities into their applications.

Injective's architecture is designed to facilitate the creation and trading of arbitrary spot and derivative markets, incorporating on-chain limit orderbook management, trade execution, order matching, and transaction settlement via the Injective exchange module. This comprehensive approach ensures a seamless trading experience, from order placement to settlement, all managed on-chain.

Two primary services are central to the trading process:

The Chain API: Primarily designed for write operations, the Chain API directly queries the blockchain state from the node, providing immediate and direct access to the current state of the blockchain. This includes a limited set of API requests for reading data, focusing on the immediate and current state of the blockchain.

The Indexer API: Exclusively for read-only operations, the Indexer API reconstructs the blockchain state from events emitted by the chain, offering a comprehensive view of the network's state without direct access to the blockchain. Offers additional functionalities such as a broader range of methods, streaming support, gRPC integration, and the ability to fetch historical data, making it a more versatile tool for data retrieval compared to the Chain API.

The trading lifecycle begins with traders signing transactions containing order messages. These transactions are then broadcasted to an Injective node, where they are added to the mempool and eventually included in a block. During the block processing period, the handler for each message type is executed. Immediate processing is applied to order cancellation and liquidation messages, while order creation messages are queued for later processing.

At the end of the block, the batch auction process for order matching begins. Market orders are executed against the resting orderbook, and limit orders are matched against one another and the resting orderbook, resulting in an uncrossed orderbook. The chain then settles funds accordingly, creating positions for derivative trades and swapping assets for spot trades. Events containing trade and settlement information are emitted by the chain, which are then indexed by the Injective Exchange API backend and pushed to all subscribed traders.

The complete SDK documentation, with additional guides and examples, can be found here.

4. Introduction to Running a Node on Injective

Running a node on Injective is a critical step for developers and validators looking to participate in the network's operation. There are multiple ways to interact with an Injective node, including through the Command Line Interface (CLI) along with gRPC and REST endpoints. Each method offers unique advantages, depending on your specific needs and technical stack.

Option 1: CLI

The injectived CLI is a powerful tool for interacting with a node. Ensure your node is running in the terminal before using the CLI.

Option 2: gRPC

gRPC is a high-performance, open-source universal RPC framework that allows for efficient communication between services. The Protobuf ecosystem provides tools for generating client code from *.proto files, facilitating easy integration with various programming languages.

grpcurl: A command-line tool for interacting with gRPC services, similar to curl but for gRPC. It's useful for debugging and testing.

Programmatically: You can also interact with the node programmatically using Go, Python, or TypeScript. This involves creating a gRPC connection and using the generated client code to query the gRPC server.

Option 3: REST

All gRPC services are accessible via REST-based queries through gRPC-gateway, offering a convenient alternative for those not using gRPC. The URL paths are based on the Protobuf service method's full-qualified name, with some customizations for idiomatic URLs.

4. Developer Resources

As you begin your developer journey, feel free to refer back to this list for a comprehensive list of resources for developing on Injective.

Happy building ninjas!

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.

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