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November Update: The Injective Anniversary Issue

November Update: The Injective Anniversary Issue
November Update: The Injective Anniversary Issue
     

November was a memorable month for Injective as it celebrated its one year anniversary of mainnet. As the first sector-specific blockchain optimized for building DeFi applications, Injective has reached a number of significant milestones since the mainnet launch and ushered in a new era for all of Web3.

During the past month, Injective’s ecosystem of dApps, integrations, validators and institutions continued to grow. As it enters its second year, Injective continues on its mission to democratize finance through decentralization.

For a recap of November, check out this highlight reel 👇

Highlighted News

Injective Mainnet Turns 1

On November 8th, 2021, Injective’s mainnet went live. Since then, Injective has launched an interchain smart contracts layer, processed over 130 million transactions, implemented an innovative token burn model and completed one of the largest capital raises in the industry from leading institutions. It also became one of the leading Cosmos IBC zones, integrated with prominent projects to increase interoperability, introduced some of the fastest growing dApps and much more.

The Injective community has accomplished a great deal in just its first year since mainnet, and there is far more in store for the upcoming year as Injective seeks to become bigger than ever before!

Introducing the Ninja Pass

To celebrate the one year anniversary of mainnet, Injective launched the Ninja Pass: the ultimate all-access passport to the Injective ecosystem!

The Ninja Pass will serve as a gateway into exclusive Injective protocols, events, giveaways and many more surprises. With only a limited quantity, the Ninja Pass can only be claimed via one-time special access codes that are scattered across the Injective ecosystem.

  • If you are a lucky winner of the Ninja Pass code, you can claim it via the official page here.
  • For how to get a Ninja Pass code now, check one of the ongoing campaigns by Helix here.
  • There are more opportunities to get a Ninja Pass code from other ecosystem projects’ campaigns, please stay tuned.

Kado Fiat On-ramp Live On Injective

Fiat on-ramp to Injective is now complete thanks to the integration with Kado! Any dApp built on Injective can now onboard mainstream users using fiat from bank accounts in 150+ countries, with one instant transaction.

Binance Custody Launches New Staking Feature With Injective Support

Binance Custody has integrated Injective and the native INJ token in order to enable unprecedented institutional access for the Injective ecosystem. With this integration, Binance Custody also introduces its first-ever staking feature by enabling staking support for the INJ token.

The Binance ecosystem has been a leading supporter of Injective since day one. Injective was originally incubated by Binance Labs and later went on to Binance launchpad. This integration further expands Injective’s global presence by providing a gateway for institutional onboarding.

Injective Ecosystem Updates

Project X Early Access Beta Launch

The Project X Private Beta is now here and early access is open only to Ninja Pass holders.

First unveiled during Cosmoverse 2022, Project X will revolutionize the way in which both developers and users can access finance to bring true mass adoption. Project X is a combination of strategy vaults for passive yield generation, AMMs with impermanent loss (IL) protection and a one-click launchpad.

Ninja Pass holders will be able to view, test and engage with the protocol before anyone else in the community.  

If you are a lucky holder of Ninja Pass, please fill out this form to gain access to the private beta.  

Qwerty Exchange Update On Automatic Signing

Qwerty Exchange, one of the exchange dApps built on Injective, enabled automatic signing, made possible by Injective’s AuthZ module. Users can choose their sign modes by specifying the time that they want to grant access to the wallet.

Qwerty is also working on a mobile application. Stay tuned!

World Cup Prediction Markets Live on Frontrunner

Product UI on Frontrunner testnet

With the 2022 World Cup underway, Frontrunner’s World Cup prediction markets are now live! Now it is the perfect time to stand behind your team and test the best sports prediction app on the market 👇

  • Place your bet with Frontrunner: link
  • Join Frontrunner’s discord to be a part of the World Cup discussion and fun contests: discord.gg/frontrunner

Coin98 Wallet Integrated with Injective

The Coin98 Super App has integrated Injective to bring forth a new age of interconnected finance. Users can access novel dApps built on Injective via the Coin98 wallet app or browser extension. This means prominent DeFi applications, such as Helix or Frontrunner, can be accessed directly from Coin98, enabling millions of new users to access the Injective ecosystem.

Injective Mobile Support Is Live on Leap

Injective mobile support is now live on Leap iOS and Android! Users can now access Injective dApps directly on their mobile device.

Injective Chain Updates

Camelot Mainnet Upgrade  

The Camelot mainnet upgrade was completed on November 22nd. The upgrade included:

  • Advanced CosmWasm smart contracts
  • Atomic orders support across dApps
  • Ability to launch new CW20 tokens on Injective

New Validators Join Injective

This month, Informal Staking onboarded to Injective as a new validator, joining a network of 40 active validators. Users can delegate tokens and check validators status on the Injective Hub.

As Injective continues to grow, and more transactions are made on its blockchain, validators help to speed up transaction times and provide more security to the network.

*Current data shows Injective has achieved an average block time of 1 second, making Injective one of the fastest blockchains in the industry.

November Injective Stats

  • Injective has one of the lowest transaction fees ($0.0002) among major layer ones.
  • Injective has processed over 131 million transactions.
  • Injective has become the top IBC project by IBC transfers in the Cosmos ecosystem and has processed over 1.6 million IBC transfers in the last 30 days.
  • Injective is the top project by total commits in developer activity in the Cosmos ecosystem.
  • November saw a significant increase in trading volume across exchange dApps on Injective, with a peak daily trading volume of over $19 million on November 8th.
  • The largest INJ token burn was completed through the auction on Nov 30th with 5 million INJ burned!
  • A bi-weekly round-up thread about Injective by Helios Staking

In The News

With the media focusing in on the recent news surrounding FTX, Injective Labs CEO and Co-Founder, Eric Chen, provided commentary to major publications on the fallout and potential further impact to the larger crypto industry.

Eric also shared insights to the press for educational pieces, providing further clarification on the difference between centralized and decentralized finance.

CoinTelegraph

FTX collapse: The crypto industry’s Lehman Brothers moment
Just a day after assuring the crypto community that everything was fine and FTX had the funds to back customers’ assets, Bankman-Fried announced that FTX was in a deep liquidity crisis.

Eric provided commentary to CoinTelegraph on what lies ahead for crypto after the FTX downfall.

Barrons

Bitcoin Prices Hold Firm Despite FTX Bankruptcy
The collapsed company’s new CEO John J. Ray III said that only $740 million of cryptocurrency had been secured in new wallets.

“We are likely only in the initial innings of the eventual contagion that will come to light for centralized platforms,” said Eric Chen, chief executive of Injective Labs.

Reuters

Crypto markets in turmoil over FTX bankruptcy
Crypto exchange FTX filed for U.S. bankruptcy on Friday and Sam Bankman-Fried stepped down as CEO, after a liquidity crisis that has prompted intervention from regulators around the world.

Eric spoke to Reuters on the recent FTX crash and what it means for the world of decentralized finance moving forward.

The Street Crypto

‘Crypto is Not Partisan, But the Approach Towards Regulating It Is’
Some Democrats and Republicans differ in their legislative approach to crypto, one expert says.

CEO and co-founder of Injective Labs, Eric Chen, was interviewed by The Street Crypto on the recent midterm elections and its potential impact on the crypto industry.

Bankrate

What Are DApps And How Do They Work? | Bankrate
If you think of crypto as a token that pays for machines to run, then dApps function like a video arcade, where clients can deposit money to use the service.

Showcasing the importance of education, Eric spoke to Bankrate to provide further context on the crypto industry and why not all crypto is built the same.

Fintech Times

What Are Smart Contracts Replacing and Why Are They So Revolutionary | The Fintech Times
Smart contracts are described as the ‘worker bees’ of blockchain technology. But what are they replacing and why are they revolutionary?

Eric also spoke to Fintech Times in an educational piece, with remarks included in a roundup on “What Are Smart Contracts Replacing And Why Are They So Revolutionary”.

Milk Road Daily

Helix was featured on one of the most popular crypto newsletter Milk Road Daily read by over 225,000 members.

Injective Community Updates

The Injective Labs team joined multiple Twitter Spaces during the month of November to discuss the latest contributions to Injective, speak to ecosystem partners and provide commentary on the current industry.

Here is a roundup of the shows and Twitter Spaces from this month:

Buzzworthy Community News:

  • Injective Labs head of BD Mirza joins as one of the seven members of the Interchain Communication Council to expand and amplify the interchain ecosystem
  • Binance launchpad alumni Alpha Venture DAO and Injective are collaborating to onboard the best builders into web3 through the highly competitive Alpha incubation program.
  • Injective community started a new DEX user bonus campaign during Nov 16th to 22nd, to reward users who trade at least $10 worth of assets on any exchange dApps built on Injective.
  • Along with the mainnet launch, Injective has been collaborating with ecosystem partners such as Frontrunner, Helix, Kado, etc. to host anniversary campaigns with Ninja Pass rewards
  • New airdrop coming soon to $INJ stakers from Eclipse Pad and Harbor Protocol
  • A half-month recap infographic of Injective by Cosmos Daily
  • An infographic showcasing core features of Injective by Cosmos Insider
  • A weekly report on Injective by Injective validator Stakely
  • A how to stake $INJ video guide by Injective validator Stakewolle
  • A guide article on how to use Injective Explorer V2 by Injective validator Hashquark
  • A trading tip of funding rate arbitrage opportunities by Wavely
  • A thread on the FOMC meeting, rate hikes and what it means for crypto by Injective Labs co-founder Eric Chen
  • A thread on the Injective exchange and orderbook primitive and why it enables Injective to provide the best platform for specialized dApps with unmatched scalability and safety by Eric
  • A thread on the thoughts by the FTX meltdown by Eric
  • A research piece on enabling advanced decentralized margining with isolated credit pools by Eric

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

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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