Injective today has successfully launched its largest mainnet upgrade to date, ushering in an entirely new age of Web3 finance.
With the Volan Upgrade, Injective enables the world’s first native real world asset infrastructure, enhances its blockchain scalability, expands its interoperability, introduces novel burn capabilities, alongside a myriad of groundbreaking enhancements.
The Volan Upgrade brings an unmatched L1 infrastructure for developers and institutions alike. In fact, the new Injective mainnet not only introduces a novel permissioned gateway for institutions but also arrives on the same day that the much anticipated Bitcoin Spot ETF goes live. This in turn paves the way towards introducing never before seen use cases alongside true adoption of crypto as a whole.
A Few Highlights of the Volan Mainnet Upgrade
The list below will delve into a few of the major components of the mainnet upgrade.
The First Ever RWA Module
Injective has introduced the world’s first Real World Asset (RWA) Module, offering a never before seen approach to creating and managing permissioned assets with extensive customization options. Injective is the only blockchain to support a permissioning layer directly on its native chain which retains capital efficiency for all users while adding compliant access points for financial institutions.
This module enables both institutions to easily launch and access a variety of structured products and RWAs. These include unique offerings such as tokenized fiat pairs, treasury bills, and exclusive credit products, accessible through compliant gateways. Additionally, the platform allows for the creation of tokens with tailored features, including specific allow lists that control asset access.
Some of the largest Web3 institutions today such as Brevan Howard and Cumberland back Injective. By utilizing Injective’s RWA module, an institution can launch a permissioned asset while also having full control over which addresses are able to interact with that specific asset. By doing so, the entity is able to meet their specific compliance needs while also being able to enter the on-chain world for the first time. This alone can help to finally unlock on-chain institutional adoption which previously was not possible due to the lack of such a robust infrastructure stack.
The Volan Upgrade introduces an enhanced iteration of the Inter-Blockchain Communication (IBC) Protocol, opening up direct interaction with Injective’s Web3 financial modules, including its on-chain orderbook.
This integration facilitates cross-chain transactions, encompassing advanced order routing and swaps. To illustrate, consider a scenario where a user wants to perform a cross-chain swap using a dApp on another IBC-enabled chain such as Celestia. Through a user-friendly interface, the trader can seamlessly execute the cross-chain swap and route it through Injective’s orderbook module to complete the swap, all without needing detailed knowledge of the underlying processes.
This process eliminates the need for users to navigate through multiple steps, offering a seamless and efficient experience.
Enhanced Enterprise Grade Scalability
Injective’s latest enterprise APIs brings a large update to significantly reduce latency by up to 90% for institutional users. This revamped process is realized through an innovative mechanism that allows users to bypass indexers and directly post transactions onto the blockchain.
The result is a substantial boost in efficiency and speed, further cementing Injective’s position as the fastest L1 for finance ever built.
New Exotic Oracle Feed Design
In its ongoing commitment to foster a network that allows, and is primed for all financial assets such as RWAs, Injective now allows applications to seamlessly integrate off-chain price feeds directly into the blockchain. This empowers dApps to effortlessly introduce a diverse range of exotic assets, markets, and products, spanning foreign exchange (FX) to tokenized bonds and beyond.
Token Economics Optimizations
Injective has also modified its on-chain inflation parameters, making the INJ token increasingly deflationary over time. The token’s economics are now designed to improve dynamically as staked assets grow, potentially reducing inflation to near zero in the long term.
Token Burn Enhancements
The Volan Upgrade also provides a much requested feature by the Injective community: the ability to burn any bank token generated on Injective. This allows any project on Injective to have heightened capabilities to carry out token burns.
Volan was made possible by the community voting in favor of Injective Improvement Proposal 314 (IIP-314). A number of other features are included in Volan such as increased wallet access to dApps built on Injective. A full list of the updates can be found on the IIP-314 page here.
All community members are encouraged to participate in Injective governance to help shape the future of the chain and finance as a whole. You can unlock the ability to participate in governance simply via staking INJ through platforms such as the Injective Hub here.
The Injective Volan Mainnet upgrade is a monumental step in the journey towards creating an entirely new financial paradigm.
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. Injective will continue to set new standards in the industry through advancements such as the RWA module, enabling a legion of everyday users and institutions to access the only blockchain built for finance.
The future of finance begins on 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.