INJ
INJ

Injective price

$12.1760
+$0.14300
(+1.18%)
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Injective market info

Market cap
Market cap is calculated by multiplying the circulating supply of a coin with its latest price.
Market cap = Circulating supply × Last price
Circulating supply
Total amount of a coin that is publicly available on the market.
Market cap ranking
A coin's ranking in terms of market cap value.
All-time high
Highest price a coin has reached in its trading history.
All-time low
Lowest price a coin has reached in its trading history.
Market cap
$1.18B
Circulating supply
97,727,220 INJ
97.72% of
100,000,000 INJ
Market cap ranking
--
Audits
CertiK
Last audit: Sep 1, 2020, (UTC+8)
24h high
$13.1090
24h low
$11.9740
All-time high
$53.2000
-77.12% (-$41.0240)
Last updated: Mar 14, 2024, (UTC+8)
All-time low
$6.3420
+91.98% (+$5.8340)
Last updated: Apr 7, 2025, (UTC+8)

Injective Feed

The following content is sourced from .
PANews
PANews
PANews reported on June 5 that according to OKX market, the top tokens in the day are: LPT is now trading at $9.767, up 15.65% in the day; RPL is now trading at $6.653, up 6.18% on the day; TRX is now trading at $0.273, up 0.44% on the day; TON is now trading at $3.185, up 0.35% on the day; LEO is now trading at $8.974, up 0.23% on the day. In addition, the top intraday decliners were: RAY is now trading at $2.179, down 9.47% on the day; WIF is now trading at $0.884, down 8.19% on the day; CRV is now trading at $0.635, down 7.33% on the day; INJ is now trading at $12.028, down 6.98% on the day; W is now trading at $0.0765, down 6.67% on the day.
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23.19K
2
Odaily
Odaily
Original title: "IOSG Weekly Brief|Ethereum RWA Explosion: Regulatory Changes and New Growth Engine #278" Original article by Sam, IOSG Ventures TL; DR: Take the stablecoin bill as an introduction, introduce the recent public attention and discussion on RWA, and then start talking about the RWA data analysis on Ethereum (zksync can be used as a highlight) What impact will the emergence of Etherealize have on Ethereum Ethereum's stablecoin issuance and DeFi have always had a strong moat, combined with the new policy of the United States, can traditional finance and DeFi be organically linked through RWA, as the most credible and decentralized blockchain, We continue to be bullish on where Ethereum's points are The bill catalyzes and the market is concerned Against the backdrop of a rapidly evolving traditional financial and regulatory environment, the recent passage of the GENIUS Act has reignited interest in RWAs. In addition to stablecoins and major legislative developments, the RWA space has quietly reached a number of important milestones: continued strong growth and a series of notable breakthroughs – such as Kraken's launch of tokenized stocks and ETFs, Robinhood's proposal to the U.S. Securities and Exchange Commission (SEC) to give token assets the same status as traditional assets, and Centrifuge's $400 million decentralized JTRSY fund on Solana. At a time when market attention is at an all-time high and the wider adoption of traditional finance is just around the corner, it's important to take a deep look at the current RWA landscape – and especially the status of leading platforms like Ethereum. Ethereum-based RWA has shown impressive month-on-month growth, often maintaining double-digit highs; Growth in 2025 will accelerate even faster than in 2024, when it was a single-digit month. Another key factor driving this momentum is Etherealize as a catalyst for regulatory development, and the Ethereum Foundation's strategic focus on RWA. At this critical juncture, this article will take a deep dive into the evolution of RWA on Ethereum and its Layer-2 network. RWA Ecosystem Map, IOSG Data analysis: A panoramic view of Ethereum RWA growth The data clearly shows that Ethereum's RWA value has entered a clear growth cycle. Looking at the total value of Ethereum's non-stablecoin RWA, the long-term trajectory is striking – it has remained in the $1 billion to $2 billion range for many years until it enters a phase of rapid growth in April 2024. This growth momentum continues to accelerate through 2025. The core driver is BlackRock's BUIDL fund, which is now worth $2.7 billion. As shown by the orange trend line, BUIDL itself has shown parabolic growth since March 2025, driving the overall expansion of the Ethereum RWA ecosystem. RWA.xyz, IOSG By asset class (excluding stablecoins), the market capitalization of real-world assets (RWAs) on Ethereum is highly concentrated in two main categories: Treasury projects (75.9%) and commodities (dominated by gold, 20.3%), with other categories accounting for a small proportion. In contrast, private credit accounts for the highest proportion of RWA market capitalization in the overall crypto market (57.4%), followed by Treasury projects (30.9%). RWA.xyz, IOSG RWA.xyz, IOSG Further focusing on the top assets of Ethereum RWA, the pie chart clearly reveals the dominance of BUIDL. Looking back a year ago, the comparison shows that BUIDL was comparable in scale to PAXG, XAUT and other products, and now it has formed a significant surpass. Although the composition of the top 10 projects is basically stable, the growth rate of treasury bond products is significantly ahead of that of gold products, and the market share continues to expand. RWA.xyz, IOSG RWA.xyz, IOSG From the perspective of protocols, the current leaders are mainly stablecoin issuers - the top four protocols are Tether, Circle, MakerDAO (Dai stablecoin system) and Ethena. It is worth noting that the total value of the securitization protocol Securitize has significantly surpassed some stablecoin projects such as FDUSD and USDC, and has jumped to the top. Other securities protocols in the top 10 include Ondo and Superstate. RWA.xyz, IOSG Focusing on the month-to-date data for the beginning of 2024, the wave of growth began in April 2024 and achieved a staggering 26.6% increase in the month – a quarter of the total incremental increase in Ethereum RWA in a single month. This momentum continued into the next three months, and although it slowed slightly between August and December 2024, the network still maintained an increase of about $200 million per month (about 5% QoQ and over 60% annualized). Growth exploded again in January 2025, surging 33.2% month-on-month. After a brief correction in February, Ethereum maintained double-digit growth for four consecutive months, with month-on-month growth exceeding the 20% mark in April and May. RWA.xyz, IOSG BUIDL With BUIDL's rapid rise to become the largest project in the Ethereum RWA ecosystem by market capitalization, a detailed understanding of its growth path is crucial. The month-on-month growth chart reveals that the indicator remained relatively stable through March 2025 and then showed an explosive jump in March 2025. However, the latest May data shows that the ultra-fast growth trend has slowed slightly, but there is still an increase of $210 million, an increase of 8.38% month-on-month. Developments in the coming months are a key window to watch – we need to track whether growth continues to slow or continues to grow explosively. RWA.xyz, IOSG BUIDL's explosive growth stems from a number of factors. The growth was largely driven by institutional demand, and the competitiveness of the products was a key driver of success: 24/7 operations, faster settlement than traditional finance, and high yields within a compliance framework. Notably, DeFi integrations are realizing synergies and unlocking more utility, such as Ethena Labs' USDtb product, which has 90% of its reserves backed by BUIDL. At the same time, the recognition of BUIDL as a high-quality collateral continues to grow, and the launch of sBUIDL by Securitize further unlocks the DeFi integration scene. BUIDL's asset distribution is highly concentrated: about 93% is concentrated on the Ethereum mainnet, which is difficult for other ecosystems to achieve. At the same time, as AUM continues to expand, BUIDL's monthly dividend has reached a new high, reaching $4.17 million in March 2025 and soaring to $7.9 million in May. BUIDL distribution, screenshot from RWA.xyz Stablecoins Given the structural impact that the GENIUS Act will have on the regulatory framework for stablecoins, it is important to systematically examine the trajectory of the Ethereum stablecoin market. Since 2024, the sector's total market capitalization has continued to show a solid upward trend, maintaining a resilient monthly growth pace, albeit at a slightly slower pace than other RWA segments. RWA.xyz, IOSG Among the smaller projects (< $500 million), most of them experienced a sustained contraction in early 2024. However, towards the end of 2024, the market value of most projects continues to rise, and the market value of GHO, M, USDO continues to grow. At the same time, a number of new stablecoin projects have emerged across the 50 M market capitalization, the Ethereum stablecoin ecosystem projects are more diverse, and the small-capitalization projects have continued to prosper since 2025. Medium-sized projects ($5-$5 billion) will only have FDUSD and FRAX in 2024; BUSD plummeted from $1 billion in January 2024 to less than $500 million in March 2024 due to the termination of the offering. However, in 2025, USD 0 and PYUSD will both break through the $500 million threshold, and mid-sized stablecoins will be more diversified. The top stablecoins (> $5 billion) continue to be dominated by USDT and USDC: USDT stabilized at $40 billion for most of 2024, jumped to $70 billion in early December, and then gradually stabilized until the recent market cap decline; USDC has steadily grown from $22 billion in January 2024 to $38 billion in May 2025. At the beginning of 2025, USDS and USDe both exceeded $5 billion, but USDT and USDC are still far ahead in terms of market share. RWA.xyz, IOSG USDT and USDC occupy an absolute dominance, which directly affects the entire stablecoin ecosystem. The growth in November 2024 is particularly noteworthy: USDT surged 30.16% month-on-month and USDC grew by 16.31%. This spike was followed by months of growth, with USDC growing more solidly in subsequent months, all of which grew by more than 5% per month. According to the issuer, Tether attributed this to "the influx of collateral assets on exchanges and institutional desks in response to the expected surge in trading volumes"; Circle highlighted that "USDC circulation increased by 78% year-on-year... In addition to user demand, it is also due to the rebuilding of market confidence and the improvement of the standard system driven by the regulatory rules of emerging stablecoins." However, there has been a clear shift in market momentum recently – USDT on the Ethereum chain has stalled in the past four months, and USDC has declined for the first time in May 2025 after months of growth. This phenomenon may signal that the market is moving towards a new phase of the cycle. RWA.xyz, IOSG L2 Ecology In the broader RWA ecosystem, Ethereum retains absolute dominance with a market share of 59.23% (excluding stablecoins), but it still faces key challenges. Screenshot from RWA.xyz Notably, zkSync jumped to second place with the Tradable project's single driver, while Stellar relied entirely on the Franklin Templeton BENJI Fund ($455.9 million) in third place. Although the RWA book data of the two public chains is impressive, its structural shortcomings cannot be ignored: lack of asset diversity and dependence on a single project. BENJI's Composition, screenshot from RWA.xyz As zkSync and Stellar demonstrate, most L2 networks are currently facing the same challenge of insufficient biodiversity, with their RWA market value highly dependent on 1-2 core projects. For example, Arbitrum: Of the total market capitalization of US$256 million, BENJI contributed US$111.9 million (accounting for 43.7%), and Spiko accounted for US$93.5 million (accounting for 36.5%), with a total monopoly of more than 80% of the market capitalization; Polygon also shows a similar distribution pattern, with core market capitalization sources concentrated in two major projects: Spiko and Mercado Bitcoin. Spiko's Composition, screenshot from RWA.xyz Expanding the horizon to the entire L2 ecosystem, the RWA value and market share of each network are significantly differentiated (see the table below). Except for zkSync, only Polygon and Arbitrum have formed a substantial scale effect, and the rest of L2 is still in the early stage of development. The success of Polygon and Arbitrum is highly dependent on a single driver, Spiko, which contributes about one-third of the total RWA value in both networks. RWA.xyz, IOSG Looking at the evolution of the overall RWA market value of the Layer-2 network, its growth cycle is not fully synchronized with that of Layer-1: the growth will not start in mid-2024. zkSync's integration into Tradable has resulted in a $2 billion market cap increase. But even when this impact is taken out, the L2 growth trend is still here – L2 networks have continued to grow by double-digit quarter-over-quarter since September 2024. In contrast, in the previous phase, RWA expansion has always been sporadic and weak. In summary, the end of 2024 marks a shift in the development of L2 ecosystem RWA: entering a strong growth cycle. RWA.xyz, IOSG Etherealize: The new engine for Ethereum RWA As a key force driving Ethereum RWA adoption, Etherealize was born out of a deep insight into the bottleneck of the industry: when protocol layer breakthroughs fail to translate effectively into physical applications, institutional engagement often stalls. To this end, Etherealize systematically bridges the gap between technological breakthroughs and practical implementation by developing customized tools, building a network of strategic partnerships, and being deeply involved in policymaking. At present, Etherealize mainly promotes the popularization and application of Ethereum RWA through market education and content dissemination, as well as data panel tools. On the one hand, the team has written and published a number of in-depth articles about Etherealize and the Ethereum ecosystem, and participated in a number of well-known podcasts and interviews with traditional financial and crypto media, making a big impact through dialogues with industry opinion leaders. On the other hand, Etherealize actively communicates with regulators, and has successfully held a number of seminars and symposia on digital asset compliance and regulatory issues, and continues to put forward constructive solutions on how to standardize and promote the RWA process. Recently, Etherealize founder Vivek Raman was invited to present at the House Financial Services Committee hearing on "American Innovation and the Future of Digital Assets", continuing to expand Ethrealize's important role in regulatory interactions. At present, Etherealize has only launched a data dashboard on the product side for market education and promotion, but the team explains in the roadmap that it will develop SDKs for institutions, etc., and is recruiting founding engineers, so it is worth continuing to pay attention to Ethereal's progress in promoting RWA products. In the next roadmap, Q2 2025 will focus on the release of an institutional-grade SDK that combines a managed interface, compliance process, and gas optimization module to help banks and asset managers build a secure and auditable issuance process, significantly lowering the barrier to entry for traditional financial institutions to participate in Ethereum RWA. On top of this, a pilot project of Noir-based enterprise wallets will be launched in the third quarter to ensure that privacy protection reaches the enterprise level and meet the confidentiality needs of RWA transactions through the "privacy by default" mechanism. In the fourth quarter, the team will focus on the international market: the team plans to establish cooperation with Singapore's Digital Port and Switzerland's Crypto Valley Association to localize product functions and compliance with the regulatory environment and market needs in Asia Pacific and Europe. At the same time, in order to reduce the friction between different Layer‐ 2 networks, the team will take the lead in promoting the standardization of rollups, and build a unified cross-link interface to realize the free flow of assets, and then integrate RWA under the Ethereum ecosystem to enhance interoperability. Finally, in order to bridge the gap between traditional financial institutions and blockchain technology, the team will continue to adhere to the 24×7 support model, providing end-to-end professional services from legal document preparation to smart contract deployment. Ethereum RWA strategic moat First-mover advantage The decision-making process of traditional financial institutions is different from that of DeFi: regulatory scrutiny, pilot verification, and proof of concept (PoC) can significantly extend the deployment cycle. At the beginning of the project, the institution will adopt a cautious strategy and start expansion after the pilot results are verified. Although Ethereum's head project BUIDL dominates, it still takes nearly a year of accumulation before ushering in explosive growth. Ethereum's core strength lies in its ecological first-mover status, which has completed experimental collaborations with a number of top financial institutions long before the rise of the RWA wave. Ecological accumulation In addition to institutional cooperation, the maturity of the RWA ecosystem requires long-term precipitation. Ethereum to maintain leadership: Breadth: Covering diversified asset issuers and depth of the agreement structure: The market value of many projects has exceeded the order of US$1 billion, forming a scale effect The integration of traditional finance and DeFi continues to deepen. Most RWA projects prioritize the deployment of the Ethereum mainnet and directly use the Ethereum ecosystem's mature decentralized lending, market making, and derivatives protocols to improve capital efficiency. Recent cases include Ethena's adoption of BUIDL as a 90% reserve asset for the USDtb stablecoin. The GENIUS Act's policy of forcing stablecoin reserves to tilt toward U.S. Treasuries is promoting the integration of U.S. Treasuries, on-chain Treasury products, and stablecoin protocols. At the same time, major DeFi protocols incorporate BUIDL into their core collateral systems. Ethereum maintains an advantage in RWA liquidity: the number of active addresses, token types, and liquidity depth are all leading. Although there is uncertainty in the collaboration mechanism of the Layer 2 ecosystem, it is still the core path for scaling. safe Security is the cornerstone of the RWA ecosystem, and smart contract technology maturity is key. As RWA projects become more logically complex, the requirements for smart contracts are also higher. In May 2025, the Sui on-chain Cetus protocol was hacked ($223 million in losses), exposing the lethal risks of oracle manipulation and contract vulnerabilities. Despite the $162 million recovered from the on-chain freeze, this type of passive contingency mechanism highlights the limitations of risk control. In contrast, Ethereum's core strengths lie in a more decentralized architecture, a track record of reliable operation, and a thriving developer ecosystem. Technological evolution The Ethereum technology roadmap will accelerate RWA development. First of all, improve L1 performance to bridge the core gap with high-performance public chains. Second, promote L2 interoperability and focus on the application layer, opening up the docking channel between traditional finance and on-chain RWA. At the same time, Ethereum's privacy roadmap strengthens security standards and privacy protection mechanisms (such as integrating privacy tools into mainstream wallets, simplifying the censorship-resistant transaction process, etc.) to provide protection for RWA transactions and build an asset confidentiality system that meets institutional-level requirements. The Genius Act: A double-edged sword for regulation The new stablecoin regulatory system not only strengthens centralized control, but also injects regulatory certainty into the market. Currently, Section 4(6) of the Act does not explicitly allow stablecoin issuers to pay interest to holders, and although the market may spawn alternatives, this issue remains uncertain. At the same time, the Genius Act requires stablecoin reserves to be 1:1 for highly liquid safe assets such as U.S. dollars or U.S. Treasuries. The USDC stablecoin's reserves have been allocated almost entirely to U.S. Treasury bonds, in line with the new rules. Other major issuers, however, will have to completely restructure their reserves or risk being forced to exit the US market. This will have a direct impact on specific designs such as algorithmic stablecoins and Delta Neutral stablecoins. By anchoring collateral to U.S. sovereign credit, regulators gain greater intervening power (and simultaneously drive demand for Treasuries), but loopholes in legislation can create new systemic risks – as the Commodity Futures Modernization Act of 2000 (CFMA) has taught in history. On the positive side, the bill's clear compliance boundaries could accelerate institutional entry: banks and asset managers can meet the regulatory certainty they have long seeked. More large companies and institutions will be licensed to issue stablecoins. For example, the joint crypto stablecoin being discussed by several major U.S. banks, or Meta's reconsideration of the possibility of launching a new stablecoin project. Ethereum's Resilience: A Diverse Ecosystem The resilience of the Ethereum stablecoin ecosystem stems from its diversity. Since the beginning of 2025, the market value of many stablecoin issuers has increased significantly, and many new stablecoin projects have emerged, including rich design dimensions: multiple collateral structures, yield strategies, and governance models. The GENIUS Act imposes a 1:1 reserve requirement on Treasury bonds, putting compliance pressure on most projects, forcing them to choose between restructuring their reserves or temporarily withdrawing from the U.S. market. The resilience of the Ethereum ecosystem sets it apart from public chains dominated by a small number of stablecoin/RWA projects – which reduces the risk of homogenization after the project is generally regulated. The diversified structure forms a natural risk isolation mechanism: even if some stablecoins adjust their strategies due to compliance requirements, there will still be projects that continue to promote innovation and maintain a decentralized core, and will not fully become part of the U.S. debt system. However, subsequent developments will also depend on the strategic positioning of the Ethereum Foundation and Etheralize. epilogue Ethereum's RWA ecosystem has seen explosive growth over the past few months. Among them, BUIDL is the strongest driving force for the development of the RWA in the near future, while a large number of treasury bond projects have also shown strong growth momentum. Behind the scale expansion, treasury bond projects have increasingly shown a trend of merging with Ethereum's existing DeFi and RWA ecosystems, such as BUIDL as collateral for lending or stablecoin projects. Ethereum still has a significant advantage in the RWA space. Whether it is the first-mover time advantage, security, deep ecological precipitation, grand technology roadmap update, or the strong leadership of BUIDL, the diversification of Layer 2 and the deep empowerment of Etherealize, these factors have jointly built the core barriers of Ethereum in the wave of traditional financial chain. With the promotion of the Genius Act, the integration of US dollar credit into the on-chain world is accelerating. This not only brings a larger influx of funds, creating more revenue and growth opportunities, but also poses a challenge: it makes the underlying support of the Ethereum financial system more biased towards fiat currency (USD), thus introducing fiat credit risk and making the on-chain settlement system an extension of US dollar hegemony; The on-chain world is no longer an independent parallel financial system. In the context of this explosive growth, there are also hidden concerns, the core of which lies in Ethereum's exploration of its own positioning - that is, whether it supports deep binding with the dollar system. Link to original article
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TechFlow
TechFlow
By Frank, PANews In the past month, the veteran public chain Injective has returned to the public eye again with the second place in net inflows. According to Artemis data, Injective's net inflow in the past 30 days is about $142 million, which is only lower than Ethereum. PANews also looked at other aspects of Injective's data and found that this net inflow was not a singular phenomenon. There has been a significant increase in on-chain fees, active users, token trading volume, etc. After a long period of silence, will Injective, the former rising star of the public chain, usher in an ecological explosion again? Or was it a short-lived flash in the pan? With a monthly inflow of $142 million, is the high yield a "honey" or a "signal flare"? Data as of June 4 shows that Injective has achieved a net inflow of $142 million in the past month. Although the amount is not high, it still ranks second in the recent data of all public chains. A closer look at the data shows that the obvious reason for this net inflow is that Injective did indeed see a wave of rapid and large inflows on the one hand, and a very small net outflow of $11 million on the other. Therefore, if we look into the reasons for this, Injective's top net inflow ranking is not due to its unusually active overall capital flows (i.e., large inflows and outflows at the same time). In fact, its simple capital inflow only ranks about 10th in the horizontal comparison with other public chains. The key to its outstanding performance in the 'net inflow' indicator is that the outflow of funds over the same period is negligible. However, this kind of on-chain fund movement is also rare for the Injective network. Of the 142 million inflows, 140 million were completed through the Peggy cross-chain bridge, accounting for 98.5% of the share. Market analyst Keyrock pointed out in its May 26 report, "Key Insights, Bond Appetit," that the massive inflow was largely attributed to the launch of Upshift, an institutional-grade yield platform, on Injective. It is understood that Upshift's APY in Injective's vault has reached 30%, and this high yield may indeed be an important reason to attract funds to transfer assets to Injective. However, PANews found through investigation that Upshift's vault hard cap of $5 million in Infinite cannot fully handle the inflow of funds, and those funds that fail to participate in this vault investment may be lost again in the short term. From derivatives to RWA hopes, can Injective open up a new game? In addition to the inflow of funds, Injective has indeed ushered in some important changes in the ecosystem recently. On April 22, the Lyora mainnet was officially launched, and this upgrade is an important milestone in Injective's development history. After this mainnet upgrade, technical optimizations such as dynamic fee structure and smart memory pools were introduced, and according to official sources, after the upgrade, Infinite was described as "faster" and claimed to have lower latency and higher throughput. In addition, Injective has launched iAssets, an oracle framework specifically for RWA, and Upshift's vault is a RWA DeFi vault. On May 29, Injective officially announced the launch of the on-chain foreign exchange market for the euro and the pound, using the iAsset framework. From this perspective, Injective's new narrative seems inseparable from RWA. As a veteran public chain, Injective's original core narrative was a decentralized derivatives exchange. The original Injective also evolved from a decentralized derivatives exchange to a public chain, which seems to be the same route as Hyperliquid, which is in the limelight today. However, Injective's current derivatives trading does not seem to have achieved the expected goal, with data on June 4 showing that the trading volume of the BTC contract trading pair with the highest trading volume on Injective in 24 hours was about $39.75 million, and the derivatives trading volume of the whole chain was about $90 million, compared to Hyperliquid's daily data of about $7 billion, a difference of about 77 times. Perhaps it was because it was difficult to open up the situation in crypto derivatives that Infinite chose to turn to the direction of RWA integration. On May 22, Injective's derivatives trading reached a maximum of $1.97 billion, significantly higher than other times, and has shown an upward trend in the near future. In addition, in terms of daily active users, the number of addresses from the lowest 6,300 in February has surged recently to 47,900, an increase of about 7.6 times. Although this data only ranks 12th among all public chains, it is also a relatively obvious breakthrough considering the rapid growth in the short term and surpassing public chains such as Avalanche and Berachain. However, even with the significant increase in daily active activity, Injective's TVL has not changed significantly, and has been declining since March 2024, and the current TVL is only $26.33 million. At least for now, DeFi projects on Injective are still not very attractive to funding. The short-term rebound in the token's performance is outstanding, and it is still 4 times away from the all-time high In terms of economy, its governance token, INJ, currently has a market cap of around $1.26 billion, ranking 82nd. It is down 76% from its peak market capitalization of $5.3 billion. However, it rebounded from the lowest point of $6.34 in April to $15.48, an increase of 144%, which is also relatively bright among the old public chains. However, it is unknown how long this sustained performance will last. Of course, Injective's recent actions are not limited to the above-mentioned content, such as the recent cooperation with many well-known institutions such as the Republic, Google Cloud, Deutsche Telekom MMS, etc., as well as the launch of some AI-related products and dynamics. Overall, Infinite has been actively seizing new narratives such as AI and RWA in the past year to transform. Judging from the data as of June, it has indeed played a certain role in recent months. However, from the perspective of order of magnitude, there is still a large gap with the current mainstream public chain. And this kind of chaser is not Injective's family, several celebrity public chains in the last round are now facing a similar dilemma. Many have returned to the public eye by starting to change their names and upgrade their brands. However, will this model of old wine in new bottles really give the market a new taste, or can it only be left in the packaging to look new? At present, Injective's ecological transformation and rejuvenation are still in their infancy. Upshift's inflows are more of an important test of market sentiment and a demonstration of ecological potential than a fundamental reversal. Whether its strategic tilt towards RWA can truly open up a differentiated competitive advantage and translate it into sustainable ecological prosperity and value capture still needs to overcome many challenges and be tested by the market for a long time. Whether the short-term data rally is short-lived or a positive sign in the long recovery journey is a final answer to the question. For Injective, the real test has just begun.
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DappRadar
DappRadar
Helix continues to dominate @injective with a strong month of growth 📊 Over $2.5B in volume and nearly 60K UAW put it at the top. New listings like $MSFT onchain futures, trading bots, and high leverage keep traders coming back. A clear leader in the Injective ecosystem 👀
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LuxeUnitySphere
LuxeUnitySphere
Expansion of the Irys ecosystem and strategic partnerships! Irys @irys_xyz is already standing out for its technical excellence, but its true value shines through the expansion of its ecosystem and strategic partnerships. This project is truly attractive as it opens up new possibilities in the digital world through the convergence of Web3 and AI, beyond just a technical platform. Recently, Irys has explosively expanded its ecosystem by partnering with leading projects like Berachain, Livepeer, Linea, Eclipse, and Injective Labs. These partnerships are not just collaborations but catalysts for creating innovative use cases by breaking the boundaries of AI and Web3. For example, the Proof-of-Liquidity (PoL) mechanism of Berachain @berachain and Irys's data chain technology have the potential to create powerful synergies in DeFi and NFT applications. Cases like dynamic NFT launches are intriguing as they offer new value to both creators and users, beyond mere technical progress. I believe these attempts are injecting fresh vitality into the Web3 ecosystem. The collaboration with Livepeer @Livepeer further enhances the possibilities of AI-based video streaming, showing potential to redefine the future of content creation. The partnership with Injective Labs @InjectiveLabs is promising as it can accelerate innovation in the financial system through the combination of DeFi and AI. These collaborations highlight Irys's vision to create value that users and developers can actually experience, not just integrate technology. Another strength of Irys is its EVM compatibility. Developers can use familiar tools and languages while leveraging Irys's unique data chain features. It feels like adding new colors to an existing canvas to completely recreate the painting. This approach is likely to lower entry barriers for the developer community and encourage more innovation. Moreover, Irys has secured $8.9 million in funding, gaining trust from major investors like a16z @a16z. It's noteworthy that Primitive Ventures @primitivecrypto highly evaluates Irys's market potential. This investment and trust are strong signals that Irys has the potential to not only stay at the forefront of technological innovation but also lead the market. Through technology, partnerships, and vision, Irys is expanding the intersection of Web3 and AI, opening a new chapter in the digital world. I believe this project is contributing to making the future we imagine a reality, beyond just a blockchain platform. Irys's progress is redefining the possibilities of the Web3 ecosystem, and I'm really looking forward to what innovations it will bring in the future!
LuxeUnitySphere
LuxeUnitySphere
Irys Ecosystem Expansion and Strategic Partnerships Irys @irys_xyz has already distinguished itself with its technical excellence, but its true brilliance shines through in its ecosystem expansion and strategic partnerships. This project isn’t just a technological platform—it’s a vibrant force unlocking new possibilities in the digital world by merging Web3 and AI, and that’s what makes it so captivating. Recently, Irys has been rapidly expanding its ecosystem through collaborations with leading projects like Berachain, Livepeer, Linea, Eclipse, and Injective Labs. These partnerships are far more than mere collaborations; they’re catalysts for breaking down the boundaries between AI and Web3, creating innovative use cases. For instance, the synergy between Berachain’s @berachain Proof-of-Liquidity (PoL) mechanism and Irys’s datachain technology holds immense potential for DeFi and NFT applications. The introduction of dynamic NFTs, for example, feels like more than just a technical advancement—it’s a gateway to delivering fresh value to creators and users alike. To me, these efforts are injecting a new wave of energy into the Web3 ecosystem. The collaboration with Livepeer @Livepeer is amplifying the potential of AI-powered video streaming, redefining the future of content creation. Meanwhile, the partnership with Injective Labs @InjectiveLabs showcases the exciting possibilities of combining DeFi with AI, paving the way for financial innovation. These collaborations aren’t just about integrating technologies—they reflect Irys’s vision of creating tangible value that users and developers can feel. Irys’s EVM compatibility is another standout strength. It allows developers to leverage familiar tools and languages while tapping into Irys’s unique datachain capabilities. It’s like adding vibrant new colors to an existing canvas, transforming the entire picture. This approach lowers barriers for the developer community and fosters greater innovation. Moreover, Irys has secured $8.9 million in funding, earning the trust of heavyweight investors like a16z @a16z . Primitive Ventures @primitivecrypto has also praised Irys’s market potential, which is a strong signal of its ability to lead, not just innovate. Irys is expanding the intersection of Web3 and AI through its technology, partnerships, and vision, opening a new chapter in the digital world. I believe this project is more than a blockchain platform—it’s helping shape the future we imagine. Irys is redefining the possibilities of the Web3 ecosystem, and I’m genuinely excited to see what innovations it will bring next!
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Injective price performance in USD

The current price of Injective is $12.1760. Since 00:00 UTC, Injective has increased by +1.19%. It currently has a circulating supply of 97,727,220 INJ and a maximum supply of 100,000,000 INJ, giving it a fully diluted market cap of $1.18B. At present, Injective holds the 0 position in market cap rankings. The Injective/USD price is updated in real-time.
Today
+$0.14300
+1.18%
7 days
-$2.4300
-16.64%
30 days
+$2.9130
+31.44%
3 months
+$0.69000
+6.00%

About Injective (INJ)

4.2/5
CyberScope
4.2
04/16/2025
The rating provided is an aggregated rating collected by OKX from the sources provided and is for informational purpose only. OKX does not guarantee the quality or accuracy of the ratings. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly, and can even become worthless. The price and performance of the digital assets are not guaranteed and may change without notice. Your digital assets are not covered by insurance against potential losses. Historical returns are not indicative of future returns. OKX does not guarantee any return, repayment of principal or interest. OKX does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/ tax/ investment professional for questions about your specific circumstances.
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    About third-party websites
    By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX and its affiliates ("OKX") are not in any way associated with the owner or operator of the TPW. You agree that OKX is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets.

Injective is a blockchain built for finance, providing an open, interoperable layer-one blockchain that powers next-generation DeFi applications, including decentralized spot and derivatives exchanges, AMMs, lending protocols, asset management protocols, and more. Founded in 2018 by Eric Chen and Albert Chon, Injective Labs is a research and development company that serves as one of the contributors to Injective. The mission of Injective is to create a truly free and inclusive financial system through decentralization, and to be the best blockchain built for finance. Injective is the only blockchain where developers can find robust out-of-the-box modules such as a completely decentralized order book that can be utilized to build a diverse array of sophisticated applications.

How does Injective work

Injective uniquely provides developers with powerful plug-and-play modules for creating unmatched dApps. These modules include a decentralized order book and derivatives trading module, options module, oracle module, and more to make it easy for any developer to quickly launch DeFi applications. Injective is built using the Cosmos SDK and is able to attain instant transaction finality using the Tendermint proof-of-stake consensus framework. In addition, Injective can facilitate fast cross-chain transactions across the largest layer one networks such as Ethereum, Solana, Polkadot and IBC-enabled blockchains.

Injective price and tokenomics

The native utility and governance token of Injective is INJ, which is used to secure the Injective L1 blockchain using a proof-of-stake (PoS) mechanism and powers Injective and its rapidly growing ecosystem. The INJ token has a maximum supply of 100 million tokens. The other key details of Injective’s tokenomics are:

  • Developer Incentives: 40% of fees generated by users on dApps built on Injective go towards incentivizing new developers building on Injective.
  • Protocol Fee Value Accrual: 60% and even more of all fees generated from dApps enter an on-chain buy-back-and-burn events.
  • Tendermint-based Proof-of-Stake (PoS) Security: INJ is used to secure Injective blockchain using a PoS mechanim. Validators and delegators can both participate in staking.
  • Governance: The INJ token governs every single component of Injective, with all proposal passing through a DAO governance vote.

About the founder

Injective Labs was co-founded by Eric Chen and Albert Chon in 2018. Eric Chen is the CEO of Injective Labs. His passion for crypto and blockchain started with mining Ethereum and participating in cryptographic research in college while studying finance and computer science. After working at a major crypto hedge fund, he decided to drop out of college and founded Injective Labs together with Albert Chon (CTO).

Injective highlights

Injective has achieved several significant milestones since its inception. In August 2022, Injective raised US$40 million to help expand financial applications on its L1 blockchain. In January 2023, Injective launched $150 million Injective Venture Group to support promising decentralized applications (dApps) built on Injective. In November 2023, Injective celebrated its second year of mainnet and reached over 314 million transactions, saw more than 44 million INJ tokens staked and 5.7 million INJ tokens burned through the weekly burn auctions.

Frequently Asked Questions about Injective (INJ)

  1. What is Injective (INJ)?

    Injective is a blockchain built for finance, providing an open, interoperable layer-one blockchain that powers next-generation DeFi applications.

  2. What are the key features of Injective's blockchain technology?

    Key features include premier plug-and-play Web3 modules, dynamic smart contracts, unprecedented interoperability, and highly secured Tendermint Consensus Mechanism.

  3. What is the INJ token used for?

    The INJ token is used to secure the Injective L1 blockchain using a proof-of-stake (PoS) mechanism. It's also used for governance, protocol fee value capture, developer incentives, and Tendermin-based PoS security.

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Socials

Posts
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 2.9K new posts about Injective, driven by 1.3K contributors, and total online engagement reached 399K social interactions. The sentiment score for Injective currently stands at 90%. Compared to all cryptocurrencies, post volume for Injective currently ranks at 2169. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Injective.
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398,707
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90%
Volume rank
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Posts
2,712
Interactions
395,321
Sentiment
91%

Injective FAQ

How much is 1 Injective worth today?
Currently, one Injective is worth $12.1760. For answers and insight into Injective's price action, you're in the right place. Explore the latest Injective charts and trade responsibly with OKX.
What is cryptocurrency?
Cryptocurrencies, such as Injective, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Injective have been created as well.
Will the price of Injective go up today?
Check out our Injective price prediction page to forecast future prices and determine your price targets.

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ESG Disclosure

ESG (Environmental, Social, and Governance) regulations for crypto assets aim to address their environmental impact (e.g., energy-intensive mining), promote transparency, and ensure ethical governance practices to align the crypto industry with broader sustainability and societal goals. These regulations encourage compliance with standards that mitigate risks and foster trust in digital assets.
Asset details
Name
OKcoin Europe LTD
Relevant legal entity identifier
54930069NLWEIGLHXU42
Name of the crypto-asset
Injective Token
Consensus Mechanism
Injective Token is present on the following networks: Binance Smart Chain, Cosmos, Ethereum, Injective, Osmosis. Binance Smart Chain (BSC) uses a hybrid consensus mechanism called Proof of Staked Authority (PoSA), which combines elements of Delegated Proof of Stake (DPoS) and Proof of Authority (PoA). This method ensures fast block times and low fees while maintaining a level of decentralization and security. Core Components 1. Validators (so-called “Cabinet Members”): Validators on BSC are responsible for producing new blocks, validating transactions, and maintaining the network’s security. To become a validator, an entity must stake a significant amount of BNB (Binance Coin). Validators are selected through staking and voting by token holders. There are 21 active validators at any given time, rotating to ensure decentralization and security. 2. Delegators: Token holders who do not wish to run validator nodes can delegate their BNB tokens to validators. This delegation helps validators increase their stake and improves their chances of being selected to produce blocks. Delegators earn a share of the rewards that validators receive, incentivizing broad participation in network security. 3. Candidates: Candidates are nodes that have staked the required amount of BNB and are in the pool waiting to become validators. They are essentially potential validators who are not currently active but can be elected to the validator set through community voting. Candidates play a crucial role in ensuring there is always a sufficient pool of nodes ready to take on validation tasks, thus maintaining network resilience and decentralization. Consensus Process 4. Validator Selection: Validators are chosen based on the amount of BNB staked and votes received from delegators. The more BNB staked and votes received, the higher the chance of being selected to validate transactions and produce new blocks. The selection process involves both the current validators and the pool of candidates, ensuring a dynamic and secure rotation of nodes. 5. Block Production: The selected validators take turns producing blocks in a PoA-like manner, ensuring that blocks are generated quickly and efficiently. Validators validate transactions, add them to new blocks, and broadcast these blocks to the network. 6. Transaction Finality: BSC achieves fast block times of around 3 seconds and quick transaction finality. This is achieved through the efficient PoSA mechanism that allows validators to rapidly reach consensus. Security and Economic Incentives 7. Staking: Validators are required to stake a substantial amount of BNB, which acts as collateral to ensure their honest behavior. This staked amount can be slashed if validators act maliciously. Staking incentivizes validators to act in the network's best interest to avoid losing their staked BNB. 8. Delegation and Rewards: Delegators earn rewards proportional to their stake in validators. This incentivizes them to choose reliable validators and participate in the network’s security. Validators and delegators share transaction fees as rewards, which provides continuous economic incentives to maintain network security and performance. 9. Transaction Fees: BSC employs low transaction fees, paid in BNB, making it cost-effective for users. These fees are collected by validators as part of their rewards, further incentivizing them to validate transactions accurately and efficiently. The Cosmos network uses the Cosmos SDK, a modular framework that enables developers to build custom, application-specific blockchains. Cosmos SDK chains rely on Tendermint Core, a Byzantine Fault Tolerant (BFT) Proof of Stake (PoS) consensus engine that supports interoperability and fast transaction finality. Core Components: 1. Tendermint BFT Consensus with Proof of Stake: Validator Selection: Cosmos validators are selected based on the amount of ATOM they stake or receive from delegators. These validators participate in block proposal and validation through a two-thirds majority voting system. Security Threshold: Tendermint BFT ensures network security as long as fewer than one-third of validators act maliciously. 2. Modular Cosmos SDK Framework: Inter-Blockchain Communication (IBC): The Cosmos SDK supports IBC, allowing seamless interoperability between Cosmos-based blockchains. Application Blockchain Interface (ABCI): This interface separates the consensus layer from the application layer, enabling developers to implement custom logic without modifying the consensus engine. The crypto-asset's Proof-of-Stake (PoS) consensus mechanism, introduced with The Merge in 2022, replaces mining with validator staking. Validators must stake at least 32 ETH every block a validator is randomly chosen to propose the next block. Once proposed the other validators verify the blocks integrity. The network operates on a slot and epoch system, where a new block is proposed every 12 seconds, and finalization occurs after two epochs (~12.8 minutes) using Casper-FFG. The Beacon Chain coordinates validators, while the fork-choice rule (LMD-GHOST) ensures the chain follows the heaviest accumulated validator votes. Validators earn rewards for proposing and verifying blocks, but face slashing for malicious behavior or inactivity. PoS aims to improve energy efficiency, security, and scalability, with future upgrades like Proto-Danksharding enhancing transaction efficiency. Injective operates on a Tendermint-based Proof of Stake (PoS) consensus model, ensuring high throughput and immediate transaction finality. Core Components: Tendermint-based Proof of Stake (PoS): Ensures instant transaction finality and supports efficient block production for high-speed transactions. Validator Selection: Validators are chosen based on the amount of INJ tokens staked, considering both self-staked and delegated tokens, to maintain a decentralized network. Delegation: INJ holders can delegate their tokens to validators, earning a share of staking rewards while participating in network governance. Instant Finality: The Tendermint consensus mechanism provides immediate finality, ensuring transactions cannot be reversed once validated. Osmosis operates on a Proof of Stake (PoS) consensus mechanism, leveraging the Cosmos SDK and Tendermint Core to provide secure, decentralized, and scalable transaction processing. Core Components: Proof of Stake (PoS): Validators are chosen based on the amount of OSMO tokens they stake or are delegated by other token holders. Validators are responsible for validating transactions, producing blocks, and maintaining network security. Cosmos SDK and Tendermint Core: Osmosis uses Tendermint Core for Byzantine Fault Tolerant (BFT) consensus, ensuring fast finality and resistance to attacks as long as less than one-third of validators are malicious. Decentralized Governance: OSMO token holders can participate in governance by voting on protocol upgrades and network parameters, fostering a community-driven approach to network development.
Incentive Mechanisms and Applicable Fees
Injective Token is present on the following networks: Binance Smart Chain, Cosmos, Ethereum, Injective, Osmosis. Binance Smart Chain (BSC) uses the Proof of Staked Authority (PoSA) consensus mechanism to ensure network security and incentivize participation from validators and delegators. Incentive Mechanisms 1. Validators: Staking Rewards: Validators must stake a significant amount of BNB to participate in the consensus process. They earn rewards in the form of transaction fees and block rewards. Selection Process: Validators are selected based on the amount of BNB staked and the votes received from delegators. The more BNB staked and votes received, the higher the chances of being selected to validate transactions and produce new blocks. 2. Delegators: Delegated Staking: Token holders can delegate their BNB to validators. This delegation increases the validator's total stake and improves their chances of being selected to produce blocks. Shared Rewards: Delegators earn a portion of the rewards that validators receive. This incentivizes token holders to participate in the network’s security and decentralization by choosing reliable validators. 3. Candidates: Pool of Potential Validators: Candidates are nodes that have staked the required amount of BNB and are waiting to become active validators. They ensure that there is always a sufficient pool of nodes ready to take on validation tasks, maintaining network resilience. 4. Economic Security: Slashing: Validators can be penalized for malicious behavior or failure to perform their duties. Penalties include slashing a portion of their staked tokens, ensuring that validators act in the best interest of the network. Opportunity Cost: Staking requires validators and delegators to lock up their BNB tokens, providing an economic incentive to act honestly to avoid losing their staked assets. Fees on the Binance Smart Chain 5. Transaction Fees: Low Fees: BSC is known for its low transaction fees compared to other blockchain networks. These fees are paid in BNB and are essential for maintaining network operations and compensating validators. Dynamic Fee Structure: Transaction fees can vary based on network congestion and the complexity of the transactions. However, BSC ensures that fees remain significantly lower than those on the Ethereum mainnet. 6. Block Rewards: Incentivizing Validators: Validators earn block rewards in addition to transaction fees. These rewards are distributed to validators for their role in maintaining the network and processing transactions. 7. Cross-Chain Fees: Interoperability Costs: BSC supports cross-chain compatibility, allowing assets to be transferred between Binance Chain and Binance Smart Chain. These cross-chain operations incur minimal fees, facilitating seamless asset transfers and improving user experience. 8. Smart Contract Fees: Deployment and Execution Costs: Deploying and interacting with smart contracts on BSC involves paying fees based on the computational resources required. These fees are also paid in BNB and are designed to be cost-effective, encouraging developers to build on the BSC platform. The Cosmos network incentivizes both validators and delegators to secure the network through staking rewards, funded by transaction fees and newly minted ATOM. Incentive Mechanisms: 1. Staking Rewards for Validators and Delegators: ATOM Rewards: Validators earn staking rewards in ATOM tokens for participating in consensus, with rewards shared with delegators who stake ATOM through delegation. 2. Slashing for Accountability: Penalties for Misconduct: Validators who act maliciously, such as double-signing or staying offline, face slashing penalties, which remove a portion of their staked ATOM. Delegators may also experience slashing if their chosen validator is penalized, encouraging careful selection of trustworthy validators. Applicable Fees: 1. Transaction Fees: User-Paid Fees in ATOM: All transactions on the Cosmos Hub incur fees paid in ATOM, compensating validators for transaction processing and helping to prevent network spam. 2. Customizable Fee Model: Custom Token Fees: Cosmos SDK allows individual chains to define their own transaction fees in tokens other than ATOM, supporting varied application requirements within the ecosystem. The crypto-asset's PoS system secures transactions through validator incentives and economic penalties. Validators stake at least 32 ETH and earn rewards for proposing blocks, attesting to valid ones, and participating in sync committees. Rewards are paid in newly issued ETH and transaction fees. Under EIP-1559, transaction fees consist of a base fee, which is burned to reduce supply, and an optional priority fee (tip) paid to validators. Validators face slashing if they act maliciously and incur penalties for inactivity. This system aims to increase security by aligning incentives while making the crypto-asset's fee structure more predictable and deflationary during high network activity. Injective incentivizes network participation through staking rewards and a unique transaction fee model that supports long-term value for INJ tokens. Incentive Mechanisms: Staking Rewards: INJ holders earn rewards for staking their tokens, encouraging active participation in securing the network. Validator Rewards: Validators receive staking rewards and transaction fees for processing transactions and maintaining network security. Applicable Fees: Transaction Fees: Users pay fees in INJ tokens for network transactions, including smart contract execution and trading. Fee Structure: A portion of transaction fees is burned via a weekly on-chain auction, reducing the overall supply of INJ tokens and supporting a deflationary tokenomics model. Osmosis incentivizes validators, delegators, and liquidity providers through a combination of staking rewards, transaction fees, and liquidity incentives. Incentive Mechanisms: Validator Rewards: Validators earn rewards from transaction fees and block rewards, distributed in OSMO tokens, for their role in securing the network and processing transactions. Delegators who stake their OSMO tokens with validators receive a share of these rewards. Liquidity Provider Rewards: Users providing liquidity to Osmosis pools earn swap fees and may receive additional incentives in the form of OSMO tokens to encourage liquidity provision. Superfluid Staking: Liquidity providers can participate in superfluid staking, staking a portion of their OSMO tokens within liquidity pools. This mechanism allows users to earn staking rewards while maintaining liquidity in the pools. Applicable Fees: Transaction Fees: Users pay transaction fees in OSMO tokens for network activities, including swaps, staking, and governance participation. These fees are distributed to validators and delegators, incentivizing their continued participation and support for network security.
Beginning of the period to which the disclosure relates
2024-06-03
End of the period to which the disclosure relates
2025-06-03
Energy report
Energy consumption
237358.66356 (kWh/a)
Energy consumption sources and methodologies
The energy consumption of this asset is aggregated across multiple components: For the calculation of energy consumptions, the so called “bottom-up” approach is being used. The nodes are considered to be the central factor for the energy consumption of the network. These assumptions are made on the basis of empirical findings through the use of public information sites, open-source crawlers and crawlers developed in-house. The main determinants for estimating the hardware used within the network are the requirements for operating the client software. The energy consumption of the hardware devices was measured in certified test laboratories. Due to the structure of this network, it is not only the mainnet that is responsible for energy consumption. In order to calculate the structure adequately, a proportion of the energy consumption of the connected network, cosmos, must also be taken into account, because the connected network is also responsible for security. This proportion is determined on the basis of gas consumption. When calculating the energy consumption, we used - if available - the Functionally Fungible Group Digital Token Identifier (FFG DTI) to determine all implementations of the asset of question in scope and we update the mappings regulary, based on data of the Digital Token Identifier Foundation. To determine the energy consumption of a token, the energy consumption of the network(s) binance_smart_chain, cosmos, ethereum, osmosis is calculated first. For the energy consumption of the token, a fraction of the energy consumption of the network is attributed to the token, which is determined based on the activity of the crypto-asset within the network. When calculating the energy consumption, the Functionally Fungible Group Digital Token Identifier (FFG DTI) is used - if available - to determine all implementations of the asset in scope. The mappings are updated regularly, based on data of the Digital Token Identifier Foundation.

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