Injective dives into its past and reveals hopes for DeFi’s future.
8 questions about the injective protocol
1. For those who don’t know, please explain Injective. what is your vision and mission?
Injective is an open and interoperable Layer 1 blockchain optimized for DeFi applications. By uniquely offering plug-and-play modules such as the order book and derivatives trading modules, any developer can quickly and easily launch financial applications with unique value. Combined with smart contract capabilities, developers can build complex applications using state-of-the-art protocols. Built on the Cosmos-SDK, Injective leverages his Tendermint-based Proof-of-Stake (PoS) consensus mechanism to achieve instant finality of transactions while maintaining lightning speed.
The current financial system is broken and inefficient. DeFi has promised to take the first steps towards breaking the centralized infrastructure of traditional exchange markets. Our mission is to take it one step further and provide a state-of-the-art, next-generation financial infrastructure for building her DeFi applications on the Injective blockchain. Users can access these applications in a fully decentralized, fast, cross-chain, low-cost and secure way.
2. When did the idea behind Injective come about?
Injective originally set out to remedy a pressing need in the world of finance. It is about creating a truly free and fair financial system for all. This can only be achieved by creating a financial application with comparable performance and comparable centralized performance while maintaining full decentralization.
Injective has been part of the first cohort of the Binance Labs Incubation Program since its inception. Inspired by the world of cryptography, Injective Labs co-founders Eric Cheng and Albert Chong, after launching their first experiments on Ethereum, soon found that the difficult problem at hand was generalized blocks. I realized that the chain cannot fix it. financial application.
This led the two founders to the promised land of Cosmos, where they became the two earliest contributors to the nascent interchain ecosystem. It’s still early days, but there was no denying that the big hopes across Cosmos were to bring a connected blockchain world to life. Injective has started creating many innovative his Web3 modules, including the first fully on-chain order book and derivatives that can be utilized to build an entire host of powerful inter-chain dApps.
Ultimately, Injective helped create the first sector-specific blockchain that is both MEV resistant and highly scalable. helixThe premier decentralized derivatives exchange, is one of the marquee dApps launched on top of Injective. Helix has become one of the fastest growing exchanges in history, surpassing $1 billion in trading volume in its first 30 days.
3. Tell us about your team background.
Our team comes from world-class universities and some of the most respected companies in the world today. Our core team members hold degrees from Stanford, Harvard and others. Additionally, he has worked for major technology companies such as Amazon. Finally, he has a strong background in finance with experience in hedge funds such as Two Sigma, one of the largest quant hedge funds he has today.
Our years of experience with blockchain technology and cryptography also highlights having worked with crypto-focused funds and designed our own token standards that were later adopted by several protocols.
To create a layer 1 blockchain for building powerful DeFi applications, it is important to assemble a team with extensive technical and financial knowledge. This is what makes our team so unique, harmoniously blending our previous experience in software, digital assets and trading to create the fastest sector-specific blockchains.
4. Let’s say you want to start using Injective. where do i start? Where are the how-to guides?
Injective currently has a number of products that help make it the most robust blockchain dedicated to DeFi.
To get started, first navigate to: injection hubIt includes a suite of tools for Injective, including a staking dashboard, INJ burn auction, wallet, insurance fund and a comprehensive governance portal.
In the “Recommended dApps” section, you can find several decentralized crypto exchanges built on Injective where you can trade for the lowest fees. Send funds to Injective via the Injective Bridge before trading on exchange dApps. The Injective Bridge is a fully trustless cross-chain bridge that natively supports many new layers such as Ethereum, Cosmos, and BNB chains through Wormhole integration planned for later this year.
For how-to guides, Frequently Asked Questions or watch video tutorial Youtube channel.
5. Why did you decide to migrate/build on the BNB chain?
Binance has long been a valued partner of Injective. We were first incubated by Binance Labs in 2018 and later became the first incubation project to host his successful IEO on Binance Launchpad. Binance’s primary asset, BNB, is already available in exchange dApps built on Injective. It is only natural to further deepen this relationship and leverage the Binance ecosystem to reach a new user base who may prefer to build on the BNB chain.
6. What do you expect next from the BNB chain community?
We hope to meet more developers as the BNB chain builds a friendlier community for different developers.Binance has a large number of users around the world, so we hope to see more on the BNB chain. We look forward to seeing users of
Since Injective can connect to the BNB Chain through Wormhole integration, we expect many users in the BNB Chain community to access Injective and use dApps built on Injective.
7. What do you see as the main challenges for DeFi in the future?
DeFi applications currently face many problems, including high gas prices, security vulnerabilities, poor UX, and slow speeds.
Injective seeks to fix many of these issues moving forward. No gas bill. Exchange dApps on Injective combine robust security parameters with an intuitive UX while far exceeding the speed of other DEXs.
8. Where do you see DeFi and the BNB chain five years from now?
We envision the DeFi market to grow exponentially in the coming years due to different types of projects meeting user demands. As traction increases, the need for more established platforms will grow. This is why the BNB chain has become the market leader in this sector and various platforms can leverage it to introduce new DeFi products.
Where to find injections:
Website | Cacophony | twitter | Telegram | GitHub |