Injective August 2021 Update: Rebrand, Decentralized Derivatives and More

Welcome to the Injective August update!

This past month was abuzz with many exciting community initiatives. Check them out below.

August Highlights

This month, Injective contributors carried out a protocol rebrand, marking an evolution in mission, product and brand.
Mainnet: The Injective Equinox Epic Task was made live after an upgrade. The proposal to launch the first derivatives on the Canary Chain was launched.
Integrations: Injective went live on the Orion Terminal which marks the latest step in a strategic collaboration.
Product: The Injective Hub was released. Injective Hub will provide a unified platform for all things DeFi on Injective such as staking, governance and wallets for the Injective community.
Injective Labs CEO Eric Chen participated as a keynote speaker at the Smart Contract Summit hosted by Chainlink.
Community: Injective’s summer campaign went live and community members took up the Fast Track to Crypto challenge. The Injective Stargazers Ambassador Program was launched. Nearly 700 Stargazer Ambassador applications were submitted. The second community call took place on Injective’s Discord. Injective FAQs were released. Injective reached 80,000+ Twitter followers.

1. The Injective Rebrand

The month began with an extensive protocol rebrand, signifying an evolution in mission, product and brand. In connection with the rebrand, the visual identity and core message were entirely revamped in order to better portray the community-driven vision for the future of DeFi.

The new visual identity was incorporated throughout the Injective Protocol website, products and messaging in order to properly illustrate the expansion of Injective’s mission and the breadth of its ecosystem.

Two community-driven goals currently underpin Injective Protocol. The first is enabling anyone to access, create, and trade unlimited DeFi markets. The second is to allow developers to create cross-chain Ethereum-compatible DApps using a protocol that is custom built for decentralized finance. The unity between these two goals will pave the way forward as Injective pioneers the DeFi economy of the future.

As the Injective ecosystem continues to expand, the INJ token will play an increasingly crucial role within the network as it helps to govern and secure new cross-chain DeFi projects and applications built on Injective.

2. Mainnet Updates

Tremendous progress has been made over the past month with regards to the Injective Mainnet Canary Chain.

First, the Equinox Epic Task was launched, enabling users to earn the final staking APY boost by placing 50 trades across 5 different spot or perpetual markets.

Second, the Canary Chain derivatives trading proposal was released, opening up the floor for community members to vote on the next big chapter of mainnet. The first derivatives on Injective’s Canary Chain are scheduled to be released once the proposal passes.

Over $100 million has been deposited into the Injective Canary Chain so far, and that number continues to rise thanks to surging community demand.

3. Integrations

Injective went live on the Orion Terminal which marks the latest step in a strategic ongoing collaboration. The Orion Terminal will be able to offer decentralized derivatives for users to trade traditional digital assets, exotics, and other derivatives. Orion will also leverage Injective’s cross-chain and bridge solutions to further improve user experience when trading across distinct layer one protocols.

4. The Injective Hub Release

The Injective Hub was released, providing a unified platform for all things DeFi on Injective such as staking, governance and wallets for the community.

The entire user interface was upgraded to reflect core ideas behind the Injective rebrand which took place at the beginning of the month. A number of new features were implemented to ensure that the staking, governance, and on-chain DeFi processes are more seamless than ever before.

Check out the Injective Hub here.

5. Injective at SmartCon 2021

Injective Labs CEO Eric Chen participated as a keynote speaker at the Smart Contract Summit hosted by Chainlink. Topics included Injective’s journey and the significance of oracles in derivatives markets.

Check out the full keynote address here.

6. Community Updates

The Injective community continues to flourish with new initiatives.

Injective community members from around the globe signed up to take part in the Fast Track to Crypto challenge, which launched this month.

The goal of this program was for e-learners to learn the ropes as they journey into the world of crypto and Injective.

A DAO-governed vote helped to launch the Injective Stargazers Ambassador Program this month.

Designed to accelerate the Injective community on the path towards building a new financial system, the program will support active Injective evangelists for a wide array of initiatives such as running meetups, growing new community channels, organizing hackathons, creating educational content, and much more.

Nearly 700 Stargazer Ambassador applications were submitted during the registration period which speaks to the diversity of talent and skills that make up Injective’s core backbone.

Other key community updates this month included the second Injective community call which occurred live on Discord. Injective also launched FAQs to disseminate knowledge about key subjects such as staking, trading, governance, the insurance fund and more. Injective reached a record-breaking 80,000 followers on the official Twitter account.

As Injective dives deeper into its mainnet stage, the strength of this expanding community will be a vital source for continued success.

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.