Summer of Injective: The July Community Update

Summer of Injective: The July Community Update
Summer of Injective: The July Community Update

Summer is just kicking off, but Injective is already heating up.

This month, numerous updates were implemented throughout the Injective Ecosystem, offering enhanced opportunities for users seeking to utilize protocols on Injective. During this period, Helix Swaps were released, and Mito introduced additional strategy vaults for its early access testnet users.

Of course, none of the aforementioned updates to the protocols built on Injective can materialize without ensuring continuous updates and integrations to the Injective Chain, creating a strong foundation for all developers within the Injective Ecosystem. This month, two notable integrations, Espresso Systems and Warp Protocol, took place, catering to both aspiring builders interested in utilizing Injective as well as those already actively building on the platform.

The progress achieved in July benefits individual users and protocol builders, with the latter providing a glimpse of what’s to come within the broader Injective Ecosystem. But one thing is for sure - Injective is continuing to use the long summer days to push forth its mission to create a free and inclusive financial system through decentralization.

Highlighted Ecosystem News

Helix Launches Swap

Helix releases Swap enabling users to convert assets across any market at the click of a button. With this feature, users can effortlessly exchange assets across multiple markets, all with one single, straightforward transaction.

This upgrade takes trading on Helix to a whole new level of simplicity, enabling seamless execution of multiple transactions simultaneously. With swift trade execution, users can capitalize on opportunities without delay, all while benefiting from Injective’s on-chain orderbook module, offering lightning-fast, cost-effective and transparent transactions for all.

Moreover, Helix introduced fee delegation support for all Cosmos wallets (e.g., Keplr, Leap, Cosmostation), creating a 100% gasless trading environment for users.

To try Helix Swap, click here.

Black Panther Launches Its Incentivized Testnet

Black Panther, the asset management protocol on Injective, achieved a significant milestone by launching its incentivized testnet. As the third-place winner in the Injective hackathon, Black Panther’s testnet introduces intelligent vaults that enable users to effortlessly profit from yield opportunities with a simple click.

Unlike traditional yield protocols focusing on auto-compounding, Black Panther offers dynamic trading strategies, like grid trading and trend following, providing users with a fresh source of alpha.

The incentivized testnet’s theme, “Injective in Borderland,” creates an engaging environment for users to earn rewards. Within its testnet, users engage in a series of games in order to collect rewards. A point system is utilized to track future rewards for each participant, encouraging active participation. By acquiring Discord roles and taking part in challenges, such as “Challenge 1 King of Spades” and “Challenge 2 King of Clubs,” users can amass points and unlock exciting opportunities.

To receive access to Black Panther’s testnet, click here.
To learn more about Black Panther’s early access, click here.
For any questions regarding Black Panther, reach out to their team on Discord.

Update on Mito’s Closed Testnet

Mito, a collection of automated trading vaults powered by Web3 smart contracts, is still in its closed testnet status, giving access to only Ninja Pass holders. Since Mito’s official launch in June, it continues to add more strategy vaults on testnet, with a current list of vaults including $ATOM, $INJ, $WETH, and $USDC stablecoin vaults.

In addition, Mito Swap has been released to allow users to swap any asset using a simplified interface with the fastest transaction speeds and lowest fees.

With over 50,000 users on an early access whitelist, it’s only a short amount of time before Mito opens up its gates to allow more users to test the highly anticipated project.

To keep up to date on Mito, follow along on Twitter.

Introducing Hydro Protocol, LSDs on Injective

Another new dApp joins the Injective Ecosystem, diversifying the DeFi offerings for the Injective community. Hydro Protocol, the first native liquid staking derivatives (LSD) protocol on Injective, announces its intention to launch on Injective by September 2023, creating a platform with three main components: liquid staking derivatives, farming, and auto-compounding.

Hydro Protocol’s liquid staking derivatives will allow community members to stake INJ and mint hINJ (liquid INJ) tokens on a 1:1 basis, enabling the opportunity to earn rewards and deploy hINJ on other protocols to acquire additional returns.

To learn more about Hydro Protocol, click here.

Highlighted Chain News

Injective Teams Up With Espresso Systems to Support Rollup Infrastructure

Injective announces its collaboration with Espresso Systems, a protocol that helps create decentralized rollup sequencers. This collaboration marks a significant step towards bringing decentralization to rollups built within Injective’s ecosystem, most notably, Cascade, the first-ever Solana SVM rollup for Injective and the broader IBC ecosystem.

This integration goes the extra mile in facilitating an accessible environment for Solana developers to deploy their protocols to a broader audience.

To learn more about the Espresso Systems partnership, click here.

Warp Protocol Launches on Injective

Warp Protocol, the decentralized automation layer for the Cosmos ecosystem, is now live on Injective, empowering developers to create a variety of new DeFi experiences for users. Beginning with Astroport Limit Orders, Warp is set to empower Injective developers to create a variety of diverse new DeFi experiences for users.

To learn more on Warp Protocol, click here.

Galxe Integrates Injective, Creating New UA Opportunities for Developers

Galxe, the premier platform for building Web3 communities, has integrated with Injective, providing a substantial boost to the ecosystem's growth. With this integration, all builders and dApps on Injective gain the ability to swiftly launch loyalty programs, reward initiatives, and more via Galxe. This synergy creates a novel approach to user acquisition, empowering go-to-market strategies for enhanced outreach.

With Galxe’s on-chain transaction tracking capabilities, projects can now create in-depth campaigns that directly benefit their users.

To learn more on the Galxe integration, click here.

Full List of Injective Updates

Ecosystem Updates:

  • NFT momentum is continuing to rise in Injective, with multiple collections going live on Talis. To view current auctions, explore the latest collections, and track the most followed artists, please visit Talis:
  • Astroport has added fresh new rewards into its AMM pools.

Chain Updates:

  • Masa, the soulbound identity infrastructure for building Web3 communities integrated Injective and introduced Soulbound Ninja Token.
  • Contribution DAO joins the Injective ecosystem as the latest validator, helping Injective expand its community f urhter in Southeast Asia and Thailand.
  • Trust Wallet now supports on-chain Injective staking to further decnetralized the network.

Injective Stats:

  • Injective processed over 262 million on-chain transactions.
  • Injective produced over 40 million blocks on mainnet.
  • A total of 15,663 INJ was burned through weekly burn auctions in July, and a total of 5.72 million INJ has been burned to date with over 107 times of burns.
  • All exchange dApps built on Injective have achieved a cumulative trading volume of $11.7 billion since mainnet.
  • The total assets on Injective Chain reached over $533 million.
  • The INJ staking APR on Injective is 14.95%, with over 41 million INJ staked.
  • Injective has become the fastest blockchain in the Cosmos ecosystem, with 0.9s block time on mainnet and 25,000 TPS.
  • The total gas fees paid by users on Injective to date is zero.
  • Injective hit over 340K followers on Twitter and 149K members in Discord.

Community Updates:

  • A brand new trailer has been released to introduce Injective to the larger Web3 community.
  • Over 140k Ninjas are now a part of the Ninja Ambassadors Program.
  • KAYO and Bart are now Masters in the Injective Ambassador Program, the highest rank in the ecosystem!
  • Monthly Injective community call on Discord
  • Injective Labs CTO Albert joined the panel hosted by Binance Labs during ETHCC Paris
  • Injective Labs CTO Albert gave a technical keynote address at Nebular Summit in Paris
  • Injective hosted a Cosmos meetup during AwesomWasm conference in Berlin
  • Twitter Spaces with Warp Protocol to discuss how Warp will empower developers to create user-friendly applications
  • NOWNodes launched shared access to the Injective full node to provide high-quality service to developers who build on the Injective blockchain.
  • An infographic about Injective June recap by Cosmos Allday
  • Injective validator SmartStake has deployed a new analytics dashboard to track weekly INJ burns
  • An overview of Injective’s Q2 2023 recap by Iryna from Injective validator Everstake
  • An infographic on how to get onboard on Injective and become an advanced ninja by Iryna from Injective validator Everstake
  • A weekly round-up recap by Injective validator Helios Staking
  • A broadcast video about Injective ecosystem news by Cosmic Validator
  • A deep dive thread on Injective dApp Mito by community member OxTochi
  • Injective ranks first among IBC network projects with the highest social mentions in June by Cosmos Daily
  • A thread on volatility, centralization, and the power of on-chain finance by Injective Labs CEO Eric Chen
  • Injective started a DeFi trader survey to get feedback and improve the trading experience on the Injective ecosystem.

🥳 Keep track of future updates on the Injective Discord, Twitter and Telegram.

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.

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