If January is any indication for the rest of the year, then Injective is off to a strong start. Coming off a successful 2022, Injective only continued to keep the momentum rolling and catapult it even further with major announcements in January.
Injective kickstarted the year announcing Astroport, one of the largest AMM protocols originally released on Terra, was joining the Injective ecosystem, bringing its highly anticipated testnet to the Injective community. Injective then announced a new $150 million Ecosystem Venture Group and a Global Virtual Hackathon, all aimed to support promising new protocols that choose to build on Injective.
With all these new initiatives and announcements, January set the tone for Injective, proving that its ecosystem growth will never stop.
For a recap of January, check out this highlight reel 👇
Injective Launches $150M Venture Group
On January 25th, Injective announced the launch of its $150 million ecosystem initiative to further accelerate developer adoption of the only lightning fast blockchain optimized for financial applications.
This effort is joined by some of the largest institutions spanning across Web3 and traditional finance, including Pantera Capital, Kucoin Ventures, Jump Crypto, IDG Capital, Gate Labs, Delphi Labs, Flow Traders and Kraken Ventures. This venture consortium is also the largest assembled within the broader Cosmos community.
Injective Global Virtual Hackathon with $1M in Prizes and Funding
With the new $150M Ecosystem Initiative, Injective also announces the first-ever Global Virtual Hackathon, which will provide up to $1M in prizes and seed funding to further support the brightest Web3 builders.
As the Injective Venture Group highlights the rising demand to back the best builders on Injective, the Injective Hackathon will help to further jumpstart the rapidly growing developer ecosystem on Injective. Technical workshops and developer sessions will be also available to help developers along the journey into the Injective universe.
Register here to secure your spot: https://injective.com/hackathon/
Ecosystem Expansion: Astroport Launch
Astroport, one of the largest AMMs in history, launched its public testnet on Injective. Astroport is a sophisticated AMM protocol that allows any user to swap crypto assets using multiple pool types, including Curve-style stableswap pools and Uniswap v2-style constant product pools. The Astroport AMM can work in tandem with Injective’s on-chain orderbook module which can create a far more capital efficient environment for traders everywhere.
Now users can begin swapping and LP’ing testnet APE, AAVE, CRV, CVX, SHIB, USDC, USDT and more at the click of a button. Connect to the Injective testnet at app.astroport.fi by selecting Injective on the top right.
Injective and Astroport also co-hosted Twitter Spaces discussing why Injective is the best blockchain for DeFi applications and why Astroport selected Injective. For the full recap, please check out the exclusive video on Youtube.
Injective Ecosystem Updates
Helix: Big Upgrade, Asset Listing & Ninja Pass Giveaway
Helix is already the largest on-chain orderbook exchange, and is quickly becoming one of the largest DEXs in all of crypto. It carried out a big upgrade with a new intuitive account page and 300% higher performance for traders, as well as 5X faster deployment cycles for developers.
In January, Helix listed the first ever Bonk (BONK) perpetual futures in the Cosmos ecosystem. BONK is the first Solana dog coin for the people and by the people with 50% of the total supply airdropped to the Solana community.
Get started on Helix:
- Deposit assets with fiat currencies: Link
- Deposit assets via Injective Bridge: Link
- Trade BONK/USDT PERP: Link
- Trade and Earn on Helix: Link
“Trade on Helix, Win a Ninja Pass” campaign round 2 started during late January. Anyone who placed a trade on Helix during the campaign period was eligible to win with one winner awarded every day.
The Ninja Pass is your all access passport for new drops and early access to the latest apps on Injective such as Astroport and Project X.
There is also an upcoming surprise from Frontrunner that will only be available to Ninja Pass holders!
If you receive a Ninja Pass code, make sure you claim it here and stay tuned!
Meet MyWavely: A Desktop Trading App
Wavely, the crypto and derivatives trading platform powered by Injective built “MyWavely”, a desktop trading app that lets you connect to Injective and trade locally on your desktop. This allows for a more decentralized way to trade financial markets without restricting you by blocking front-end access, thus further increasing the decentralization of the Injective ecosystem.
Download at: wavely.app/downloads
Injective Chain Updates
Mainnet Chain Upgrade
Injective completed its mainnet upgrade v1.9, which included the following items:
- Sophisticated message signing
- Latest Interchain Accounts (ICAs)
- Advanced balance indexing
- Upgraded WASM smart contracts
Active Validator Set Increase & New Validators Join Injective
Along with the passing of the governance proposal to increase the active validator set size on Injective, a couple of new validators onboarded to Injective, joining a network of 50 active validators. The new additions include Frens, Finoa, Kiln, Block Pane, Everstake, Golden Ratio Staking, Jabbey, Oni and SmartNodes. Users can delegate tokens and check validators status on the Injective Hub.
More validators allow the Injective network to become more decentralized, while still retaining the fastest block time in the industry, alongside instant transaction finality.
New Exchange dApps Dashboard
The new exchange dApp analytics dashboard is live. Users can find the latest stats for the entire exchange ecosystem built on Injective easily.
January Injective Stats
- Injective has processed over 150 million on-chain transactions.
- Injective has produced over 25 million blocks on mainnet.
- A total of 5.64 million INJ was burned forever through weekly burn auctions.
- All exchange dApps built on Injective have achieved a cumulative trading volume of $7.96 billion since mainnet.
- Injective has become the fastest blockchain in the Cosmos ecosystem, with ultra fast block times and 25,000 TPS.
Injective Community Updates
The Injective Labs team joined a couple of Twitter Spaces during the month of January to discuss the latest contributions to Injective, speak to ecosystem partners and provide commentary on the current industry.
Here is a roundup of the shows and Twitter Spaces from this month:
- Twitter Spaces with Kucoin and Sommelier
- Twitter Spaces with Astroport
- Eric Chen on Thinking Crypto Interview
- Eric Chen joins Telegram AMA hosted by Coin.fyi
Buzzworthy Community News:
- Math Wallet and Injective co-hosted a New Year campaign with joint NFT giveaways.
- Binance and Injective co-hosted a campaign to celebrate the Lunar New Year and Astroport launch on Injective.
- Injective has reached over 180,000 followers on twitter.
- A video on why Injective (INJ) has the best tokenomics among Cosmos ecosystem projects by Youtuber Crypto Stream
- A thread on the beauty of the INJ tokenomics by Injective ambassador KAYO
- An article on the 8 pillars of DeFi going into 2023 and how Injective is positioned to provide innovative solutions to current challenges by Injective validator Helio Staking
- A round-up thread on Injective ecosystem highlights by Injective validator Helio Staking
- An article on Injective - the fastest L1 blockchain for decentralized finance, by Injective validator Stakely
- A graphic novel thread on Astroport and Injective by Donovan Solms - builder at Delphi Labs
- A thread on Injective exchange module by Injective Labs co-founder Eric
- A thread on the benefits and impacts of Astroport joining the Injective ecosystem by Eric
- Eric will join the Interop Summit during #BUIDLWeek at ETHDenver to share what it takes to build best-in-class financial applications.
- A highlight feature on Injective’s ecosystem fund by Binance Research on its weekly market highlights.
- An infographic showcasing the schedule overview of Injective global hackathon by Cosmos Insider
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.