Injective is launching gas free deposits starting today!
All new users who transfer and trade on Injective can earn a rebate for any gas transfer fees that they may have paid when bridging assets to the Injective Chain from Ethereum.
There are also $120 Million in incentives up for grabs so you can earn rewards with every trade.
Get started with your first free Injective Bridge deposit: Link
How to Earn the Gas Fee Rebate
Injective will be reimbursing new users who deposit to the Injective Chain.
To qualify, you must:
- Have no prior trading history on Injective
- Have at least one deposit transaction of greater than 500 USDT (must be in USDT) from Ethereum
- Make a trade where the notional value is at least 500 USDT in any market of your choice on Injective Pro
To summarize, you will initially pay the gas fee when transferring from Ethereum to the Injective Chain. However you will receive a gas fee rebate as long as you follow the instructions above.
A common issue within the crypto community as a whole has been the high gas fees. The Injective Chain was created in part to be entirely free of high costs. Currently, on-chain transactions on Injective cost around $0.01 on average.
However, when depositing from Ethereum, the gas fees charged were out of the Injective Chain’s control. This unfortunately led to users not being able to onboard easily to Injective since they were blocked by the initial high fees.
All of this changes today with the Gas Free Deposit program.
Will the program be ongoing?
Initially the program will have $100,000 for rebates. Once that pool of rebate capital is used, the plan is to assess the situation before starting the next rebate pool.
Which assets are allowed to be transferred?
Only USDT transfers will be eligible to receive the gas fee rebate.
USDT is the primary quote asset used to trade on Injective, making it a clear choice for the start of the program.
Can I earn the rebate if I am a new user?
The program is currently available only for new users who transfer and trade on Injective.
Gas fees continue to be a major roadblock for millions of users new to the crypto industry.
The Injective Zero Gas Fee Deposit program aims to provide new users with a seamless onboarding process without any initial cost concerns. Give it a go and let us know what you think!
Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications. Injective was created using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by Pantera Capital.
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