ecosystem: News of Injective (INJ) - June 2024 Price Update - 7.32% Breakout Crypto News and Analysis

Trade hard. Joy is coming

Spot the Main Event:

The team announced an INJ Burn Countdown of 6 Million total INJ burn milestone tomorrow. INJ Burns have historically grown over recent months as protocol revenue has continued to rise due to the overall growth of the Injective ecosystem. So as the ecosystem and community wins, Injective wins too

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Spot the Main Event:

Today, wednesday 12th June, the Team (INJ) successfully burned 6 Million tokens, which they tagged INJ BURN AUCTION. How the $INJ Burn Auction Works: ELI5 Collecting Protocol Revenue: The on-chain auction module on Injective gathers protocol revenue from various dApps across the Injective ecosystem alongside user contributions. All of this collected revenue then goes into a special pool called the Auction Fund. Placing Your Bets: This special pool is auctioned off weekly, where anyone can bid on the basket of assets using $INJ and win the entire Auction Fund. This presents participating competitors with a potential arbitrage opportunity. For instance, a user can potentially purchase $1000 worth of USDT for $900 in INJ Winning and Burning: The winner receives the entire Auction Fund in exchange for their bid, made in INJ. The INJ that was used to win the auction is automatically burned, meaning that the INJ tokens are gone forever. United Community Effort: The Burn Auction reduces the total number of INJ and encourages community participation. This keeps the ecosystem active and engaged, as people want to bid and win the Auction, while helping reduce the total amount of INJ in existence. Everlasting Growth: As protocol revenue on Injective grows, more assets are added to the Auction Fund, leading to larger INJ auctions and burns. This creates a dynamic system, auctioning off larger pools of assets and burning larger amounts of INJ. A win-win for all involved. INJ Burns have historically grown over recent months as protocol revenue has continued to rise due to the overall growth of the Injective ecosystem. So as the ecosystem and community wins, Injective wins too.

Explore the Core.

Injective is a layer 1 blockchain designed specifically for finance, focusing on decentralized finance (DeFi) applications. Injective employs a powerful CosmWasm-based smart contract layer, enabling complex dApps and cross-chain application development. This implementation allows smart contracts to self-trigger with each block, eliminating the need for external agents. Injective Electro Chains facilitate the integration of Ethereum and Solana-based smart contracts into the ecosystem, offering a seamless deployment experience for developers from both ecosystems. The data layer provides real-time data indexing, transaction relay capabilities, and gas-free transactions. This API helps the network provide a more seamless experience. Injective is interoperable within the Cosmos ecosystem through IBC and beyond through decentralized cross-chain bridging infrastructure, enabling harmonious interaction with EVM chains and non-EVM chains like Ethereum, Solana, Klaytn, and more. Tendermint Proof-of-Stake Consensus: Injective uses a Tendermint-based Proof-of-Stake (PoS) consensus mechanism, optimized for creating, deploying, and using smart contracts. This consensus mechanism offers lightning-fast performance and instant transaction finality. INJ, the native utility token of Injective serves various roles, including governance, token burn auctions, and staking on the PoS network. It is used as collateral in DeFi lending platforms, for asset swapping, and as payment for transaction costs.

Spot the Main Event:

Today 12th of June,2024. Injective announced 6 Million total $INJ has been burnt, thats a significant milestone towards the driving up of the market value of the INJ token. Burning of the INJ token reduced a significant total supply of the INJ token. Making it more scarce, hereby driving up it value. This burning announcement also called in investors to the INJ ecosystem, to take a better part of the burning.

Spot the Main Event:

Injective Volan Mainnet Upgrade Launch. Injective has released its largest mainnet upgrade to date, Volan, ushering in a new age of RWAs, institutional adoption, scalability, and Web3 finance. With the upgrade, the Injective ecosystem can begin to grow faster than ever before with dApps launching on-chain that would not be possible anywhere else. A few highlights of Volan: The First Ever RWA Module Interoperability Expansion Enhanced Enterprise Grade Scalability New Exotic Oracle Feed Design Token Economics Optimizations Token Burn Enhancements Also it has support of binance

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Explore the Core.

Injective is a blockchain built for finance. It is an open, interoperable layer-one blockchain powering next-generation DeFi applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols and more. Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain orderbook. In addition, all forms of financial markets such as spot, perpetual, futures and options are fully on-chain. The decentralized cross-chain bridging infrastructure is compatible with Ethereum, IBC-enabled blockchains, and non EVM chains such as Solana. Injective also provides a next-generation, highly interoperable smart contract platform based on CosmWasm, with advanced interchain capabilities. Injective is custom built with the Cosmos SDK and utilizes Tendermint-based Proof-of-Stake consensus mechanism, providing instant transaction finality with the ability to sustain lightning-fast performance (10,000+ TPS). The Injective ecosystem includes 100+ projects and over 150,000 community members globally. Injective is backed by a group of prominent investors such as Binance, Pantera Capital, Jump Crypto and Mark Cuban. Injective’s core exchange module provides state-of-the-art capabilities including an advanced on-chain order book and matching engine for spot, perpetual, futures and options markets, resistance to Miner-Extractable Value (MEV) through frequent batch auction order matching, and zero gas fees for users. Injective natively uses IBC and is highly-interoperable with multiple layer 1s, including, but not limited to, Polygon and Solana (through an upcoming Wormhole integration). It is also uniquely built to be interoperable with Ethereum, through its own decentralized ERC-20 token bridge, making Injective the first network within the Cosmos ecosystem to natively support Ethereum assets. Smart contracts are implemented on Injective through CosmWasm, allowing for multi-chain smart contract transactions to occur seamlessly. Injective, however, is the only blockchain that enables automatic smart contract execution. This capability serves as a powerful building block for developers to create novel use cases that would not be possible on any other chain.

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