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Injective: A Review of 2022

Injective: A Review of 2022
Injective: A Review of 2022
     

To say that 2022 was a monumental year for Injective is an understatement. This year, Injective not only focused on continuing to expand its ecosystem while strengthening the layer one chain but it also accelerated its reach within the broader Web3 community, generating more news and buzz around its mission than ever before.

The focus for the community this year was to continue working towards its primary goal: to build the best blockchain for finance. With numerous new integrations, ranging from creating a more interoperable network to providing easier fiat onboarding solutions, multiple protocols were able to launch on Injective, enabling a wide array of new use cases that can cater to the next billion crypto users.

Publications, partners and notable leaders all took note, which culminated in a historic raise for Injective, with $40 million in funding from leading financial institutions, Jump Crypto and BH Digital.

As Injective enters 2023, a look back on all the progress built this past year is imperative as it not only shows how far Injective has come but also illustrates all that can be achieved in one year as it continues to stay in the forefront of driving innovation and adoption of Web3 finance.

Major Injective Milestones

The Injective ecosystem is growing at an astonishing pace

The Injective ecosystem grew at an astounding pace this year, reaching a great deal of new milestones along the way. You can view all ecosystem projects and partners on the official Injective ecosystem page.

Some major highlights from this year include:

  • The launch of a multichain CosmWasm smart contract layer for building truly decentralized interoperable dApps
  • Over 140 million transactions processed
  • Over 22 million blocks produced on mainnet with zero downtime
  • Reaching one of the fastest block times in the history of crypto (1.1s)
  • Offering the lowest transactions fees ($0.0002) among major layer ones
  • Continuing to be one of the top IBC enabled zones in the Cosmos ecosystem
  • Integrations with Cosmos, Polkadot, Solana, and other prominent layer ones
  • Raising a new $40M round from the likes of Jump Crypto and Brevan Howard
  • Exchange dApps on Injective reaching over $7.78 billion cumulative trading volume to date
  • Frontrunner, the decentralized prediction market built on Injective, launched its testnet and raised $4.75M in a seed round
  • Carrying out the largest community-led INJ token burn
  • The native INJ token attaining support from all major exchanges worldwide (Coinbase, Binance, etc.)

Injective 2022 Milestones

While the points below surely cannot encapsulate all of the astounding milestones reached, here are some of the major achievements by the Injective community in 2022.

First Quarter

January

Product | Injective Bridge V2 is released, supporting any ERC20 token from Ethereum, alongside Cosmos IBC-enabled chains, such as Stride & Axelar.

Community | Institutional custodian Copper integrates Injective mainnet, unlocking a diverse array of new opportunities for INJ staking.

Analytics | Total trading volume across exchange dApps on Injective nearly doubled within a month, from $1.88 billion to $3.6 billion.

February

Listings | ATOM perpetuals are available on the exchange dApps built on Injective, with listings occurring across Helix, INJ Dojo, and Dexterium.

Ecosystem | The Injective community launched Frontrunner, a decentralized sports betting platform built on Injective.

March

Product | KYVE integrates with Injective to bring seamless storage and access for fully decentralized on-chain data.

Product | Injective partners with Axelar to integrate new EVM blockchains.

Listings | ApeCoin is available on exchange dApps built on Injective, with listings occurring across Helix, Dexterium, and more.

Community | Co-founder and CEO of Injective Labs speaks at ETH Denver and Binance Blockchain Week to share Injective’s mission to push forth a more decentralized financial future.

Second Quarter

April

Listings | The first-ever NFT floor price perpetual markets become available across Injective exchange dApps with the BAYC/WETH listing. $EVMOS and Persistence ($XPRT) also become available to trade across exchange dApps built on Injective.

Partnerships | Native INJ deposits and withdrawals are now supported by Binance, making Injective one of the first-ever Cosmos chains to have mainnet support from Binance.

May

Product | Injective announces upcoming Wormhole integration to enhance cross-chain accessibility.

Ecosystem | Trading Guilds are officially open-sourced to the entire Injective ecosystem of developers.

Listings | Stacks ($STX) perp becomes available on exchange dApps built on Injective.

June

Product | Injective integrates Torus Wallet to enable social logins for mainstream users.

Product | Injective also integrates Trezor, becoming the first Cosmos blockchain to integrate Trezor to further hardware wallet support.

Product | Injective integrates Polkadot assets, allowing Injective to be the primary getaway for cross-chain Polkadot assets to enter the Cosmos universe.

Listings | Polkadot ($DOT) and Osmosis ($OSMO) Perp become available on exchange dApps built on Injective.

Community | The Injective Labs team attends both Consensus and DCentral to share the most recent developments with Cosmos and Ethereum communities.

Third Quarter

July

Product | Injective undergoes through a major upgrade, enabling smart contracts, negative maker fees, and the binary options module.

Ecosystem | Wavely becomes the latest exchange to launch on Injective. With an intuitive interface, a unique profit-and-loss shareable card, and light mode, its quick deployment and immediate adoption proves why Injective is the blockchain to choose when launching DeFi applications.

Ecosystem | Utilizing Injective’s binary options module, Frontrunner launches its testnet with a trading competition.

Community | Injective Developer Docs are updated to include the latest CosmWasm smart contract details.

August

Community | Jump Crypto leads a $40M round with BH Digital to help expand Injective’s DeFi ecosystem. This major announcement was covered by TechCrunch, CoinTelegraph, CoinDesk, Blockworks and more.

Listings | $USDC becomes available across exchange dApps on Injective.

Ecosystem | Apollo DAO proposed the upload of the CW3 Fixed Multisig contract to enable the deployment of Apollo Safe on Injective.

Product | Math Wallet supports Injective natively to allow transfers, deposits and access to dApps on Injective for its 3 million global users.

September

Ecosystem | Injective Pro officially re-launches under its new name “Helix”, with an entirely new interface, light mode, and an easy convert feature.

Ecosystem | “Project X” is officially unveiled at Cosmoverse, winning the most promising launch award at the close of the conference. “Project X” will bring AMMs with 0 impermanent loss, strategy vaults for market making & passive yield generation, and a one-click launchpad to release new tokens (100x cheaper and 10x more capital efficient).

Listings | ETH Merge Futures becomes available on exchange dApps built on Injective to celebrate the long-awaited Ethereum Merge.

Product | Injective integrates Leap Wallet to allow for another access point into the Injective ecosystem.

NFTs | Injective Punks announces its claim to become the first original Injective NFT collection, with the goal of building a no-code NFT launchpad and NFT marketplace.

Fourth Quarter

October

Community | The Injective Labs team attends xHack, an interoperability-focused hackathon hosted by Wormhole. Two projects, xAccounts and Bitcorn, received a grant from the Wormhole team to continue building out their products on Injective.

Product | Injective Explorer v2 is released, which includes the addition of a new assets section, a new markets section, asset details across the interchain ecosystem, smart contract code and much more.

Ecosystem | White Whale announces that it will be launching its lending focused dApp on Injective.

Listings | Stride ($STRD) becomes available on exchange dApps built on Injective.

Product | Cosmostation integrates with Injective.

November

Community | Injective mainnet turns one! To celebrate, Injective partners, stakeholders, builders, validators and more received anniversary packages to commemorate the first year.

Product | Injective carries out the Camelot mainnet upgrade, including advanced CosmWasm smart contracts, atomic order support across dApps, and the ability to launch new CW20 tokens on Injective.

Ecosystem | Kado launches on Injective to allow for an easier fiat-to-crypto onboarding process for all users!

Partnerships | Binance Custody integrates Injective to enable unmatched institutional access (INJ also becomes the first asset to have staking support on Binance Custody)

Product | Injective launches the Ninja Pass, the ultimate all-access pass to the entire Injective ecosystem. A code associated with an Injective Wallet, the Ninja Pass provides benefits, exclusive access, and more to elite holders within the ecosystem.

December

Ecosystem | Wormhole is officially integrated with Injective, bringing the most prominent L1 and L2 blockchain networks such as Solana and Aptos to Injective.

Ecosystem | White Whale, the Cosmos interchain liquidity hub, deploys a novel flash loan and arbitrage protocol on Injective.

Ecosystem | Frontrunner, the first decentralized prediction market on Injective, raised $4.75 million led by Susquehanna Private Equity Investments.

Injective: Looking Ahead to 2023

Looking back and reflecting on the past year only helps to set the stage for a monumental new year with unparalleled launches and upgrades.

With Injective creating a strong layer for its mission and goals, this next year’s focus will be to exponentially grow its ecosystem. More specifically, it will be to support developers entering Injective’s ecosystem and looking to build the best Web3 applications. Injective will continue to showcase why it is far and above the premier infrastructure for creating industry-leading finance applications.

To the entire Injective community, thank you for the continuing support as we all work to break new boundaries in the industry. As we look to 2023, we cannot wait to achieve the seemingly impossible together.

About Injective

Injective is a lightning fast interoperable layer one blockchain that brings Cosmos and ethereum interoperability to the premier finance applications. Injective provides developers with powerful modules for building exchange, DeFi, derivatives & Web3 apps. 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 prominent investors such as Jump Crypto, Pantera and Mark Cuban.

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