-
Bitcoin $103,410.2943
0.37% - Ethereum
$2,378.4102
1.71% - Tether USDt
$1.0000
0.02% - XRP
$2.3798
-0.46% - BNB
$653.3515
2.58% - Solana
$169.3667
-2.03% - USDC
$0.9999
-0.01% - Dogecoin
$0.2232
7.41% - Cardano
$0.7915
-0.27% - TRON
$0.2592
-1.84% - Sui
$3.8789
-2.59% - Chainlink
$16.0918
-0.95% - Avalanche
$24.0713
2.17% - Stellar
$0.2998
-0.60% - Shiba Inu
$0.0...01564
3.07% - Hedera
$0.2049
1.60% - Hyperliquid
$25.1726
0.08% - Toncoin
$3.3417
1.68% - Bitcoin Cash
$416.5211
0.31% - UNUS SED LEO
$8.7409
0.13% - Polkadot
$5.0542
7.79% - Litecoin
$101.3278
3.08% - Monero
$318.6128
4.89% - Bitget Token
$4.7713
6.21% - Pepe
$0.0...01275
0.19% - Dai
$0.9999
0.00% - Pi
$0.7199
-3.05% - Ethena USDe
$1.0001
0.00% - Uniswap
$6.5661
3.44% - Bittensor
$437.0510
1.73%
What currency is INJ
INJ is a multi-utility token that serves as a transaction fee, governance token, staking instrument, and liquidity provider within the Injective Protocol, a decentralized exchange and derivatives platform.
Nov 07, 2024 at 09:22 am
What Currency is INJ?
Introduction
Injective Protocol is a decentralized exchange (DEX) and derivatives platform built on the Cosmos blockchain. Its native token, INJ, is a utility and governance token that plays a crucial role within the Injective ecosystem.
Overview of INJ
INJ is a multi-utility token that serves several key functions in the Injective Protocol:
- Transaction Fees: INJ is used to pay transaction fees on the Injective DEX.
- Governance: INJ holders have voting rights in the Injective DAO (Decentralized Autonomous Organization), which governs the protocol's development and operations.
- Staking: INJ tokens can be staked to earn rewards and support the network's security.
- Liquidity Provision: INJ can be used to provide liquidity to trading pairs on the Injective DEX.
- Access to Exclusive Features: INJ holders may gain access to exclusive features and discounts within the Injective ecosystem.
Technical Specifications of INJ
- Token Standard: Cosmos SDK
- Total Supply: 100,000,000 INJ
Initial Distribution:
- 50%: Team and backers
- 25%: Strategic sale
- 15%: Ecosystem development
- 10%: Community incentives
Key Use Cases of INJ
- Trading: INJ can be used to pay for trading fees on the Injective DEX.
- Derivatives: INJ can be used to trade derivatives contracts, such as perpetual futures, on the Injective platform.
- Liquidity Provision: INJ can be used to provide liquidity to trading pairs on the Injective DEX and earn rewards.
- Governance: INJ holders can participate in the Injective DAO, vote on governance proposals, and contribute to the protocol's development and direction.
- Staking: INJ holders can stake their tokens to earn rewards and contribute to the network's security.
Purchasing and Storing INJ
INJ can be purchased on various cryptocurrency exchanges, such as Binance, KuCoin, and Gate.io. It can be stored in any Cosmos-compatible wallet or on the official Injective wallet.
Conclusion
INJ is the native token of the Injective Protocol, a decentralized exchange and derivatives platform. Its utility as a transaction fee, governance token, staking instrument, and liquidity provider makes it a vital part of the Injective ecosystem. As Injective continues to grow and expand, INJ is expected to play a increasingly important role.
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
- Rexas Finance (RXS) Raises Over $48 Million in Presale, Tokenizing Real-World Assets to Open New Markets
- 2025-05-10 19:50:13
- The crypto market may be entering the early stages of a new altcoin season, according to analysts.
- 2025-05-10 19:50:13
- Bitcoin (BTC) Price Surges to $104,300, Confirming Uptrend and Solidifying Bullish Outlook
- 2025-05-10 19:45:12
- Bitcoin (BTC) Price Surges to $104,300, Confirming the Uptrend and Solidifying the Bullish Outlook Projected for 2025
- 2025-05-10 19:45:12
- SUI Has Experienced an Impressive Price Rally, Rising Nearly 20% in Just Two Days
- 2025-05-10 19:40:15
- Encapsulate Joins the IOTA Ecosystem as a New Validator
- 2025-05-10 19:40:15
Related knowledge
DeFi leverage risk is high: How to control the probability of liquidation?
May 08,2025 at 03:09am
Understanding DeFi Leverage and LiquidationDeFi, or Decentralized Finance, has revolutionized the way users interact with financial services on the blockchain. One of the most popular features within DeFi is leverage, which allows users to borrow funds to amplify their investment potential. However, with great power comes great risk, particularly the ri...
DeFi project runaway warning: How to identify fraudulent protocols?
May 07,2025 at 11:56pm
In the fast-evolving world of decentralized finance (DeFi), the allure of high returns often comes with significant risks, including the threat of fraudulent protocols. Identifying these scams is crucial for protecting your investments and maintaining trust in the DeFi ecosystem. This article will guide you through the key indicators and steps to spot a...
DeFi liquidation risk is high? How to set a safety margin?
May 08,2025 at 04:01am
DeFi, or Decentralized Finance, has transformed the way individuals interact with financial services by offering an open, permissionless, and transparent ecosystem. However, one of the key risks associated with DeFi platforms is the potential for liquidation. Liquidation risk in DeFi can be high, especially for those who are not well-versed in managing ...
What to do if the DeFi protocol is hacked? How to ensure asset security?
May 08,2025 at 12:35am
If a DeFi protocol is hacked, it can be a distressing experience for users, as it poses a significant threat to their assets. However, there are steps you can take to mitigate the damage and enhance the security of your assets going forward. This article will guide you through the process of what to do if a DeFi protocol you use gets hacked and how to e...
DeFi income is not as expected: What are the key points of strategy optimization?
May 08,2025 at 05:14am
DeFi income is not as expected: What are the key points of strategy optimization?In the world of decentralized finance (DeFi), many users dive into various platforms with the hope of generating substantial returns. However, the reality often falls short of expectations. If you find that your DeFi income is not as expected, it's crucial to optimize your ...
DeFi lending rates are too high: How to find the best funding rate?
May 08,2025 at 04:57am
In the world of decentralized finance (DeFi), lending rates can often be a significant concern for users looking to borrow assets. High lending rates can make borrowing less attractive and more costly, impacting the overall efficiency and appeal of DeFi platforms. Understanding how to find the best funding rate is crucial for anyone looking to engage in...
DeFi leverage risk is high: How to control the probability of liquidation?
May 08,2025 at 03:09am
Understanding DeFi Leverage and LiquidationDeFi, or Decentralized Finance, has revolutionized the way users interact with financial services on the blockchain. One of the most popular features within DeFi is leverage, which allows users to borrow funds to amplify their investment potential. However, with great power comes great risk, particularly the ri...
DeFi project runaway warning: How to identify fraudulent protocols?
May 07,2025 at 11:56pm
In the fast-evolving world of decentralized finance (DeFi), the allure of high returns often comes with significant risks, including the threat of fraudulent protocols. Identifying these scams is crucial for protecting your investments and maintaining trust in the DeFi ecosystem. This article will guide you through the key indicators and steps to spot a...
DeFi liquidation risk is high? How to set a safety margin?
May 08,2025 at 04:01am
DeFi, or Decentralized Finance, has transformed the way individuals interact with financial services by offering an open, permissionless, and transparent ecosystem. However, one of the key risks associated with DeFi platforms is the potential for liquidation. Liquidation risk in DeFi can be high, especially for those who are not well-versed in managing ...
What to do if the DeFi protocol is hacked? How to ensure asset security?
May 08,2025 at 12:35am
If a DeFi protocol is hacked, it can be a distressing experience for users, as it poses a significant threat to their assets. However, there are steps you can take to mitigate the damage and enhance the security of your assets going forward. This article will guide you through the process of what to do if a DeFi protocol you use gets hacked and how to e...
DeFi income is not as expected: What are the key points of strategy optimization?
May 08,2025 at 05:14am
DeFi income is not as expected: What are the key points of strategy optimization?In the world of decentralized finance (DeFi), many users dive into various platforms with the hope of generating substantial returns. However, the reality often falls short of expectations. If you find that your DeFi income is not as expected, it's crucial to optimize your ...
DeFi lending rates are too high: How to find the best funding rate?
May 08,2025 at 04:57am
In the world of decentralized finance (DeFi), lending rates can often be a significant concern for users looking to borrow assets. High lending rates can make borrowing less attractive and more costly, impacting the overall efficiency and appeal of DeFi platforms. Understanding how to find the best funding rate is crucial for anyone looking to engage in...
See all articles
