Injective Protocol is a universal Decentralized Finance (DeFi) protocol for cross-chain derivatives trading in a multitude of financial products such as perpetual swap, futures and spot trading. Injective Protocol coin (INJ) is the native token of the protocol. Detailed information about the what is Injective Protocol coin INJ, how does it work, how to buy, how much it costs, etc. is in the continuation of the article. For information about Unibright coin (UBT), you can check here.
What is Injective Protocol coin (INJ) and how does it work?
Injective Chain is implemented as a Cosmos SDK module built with Ethermint (EVM on Tendermint). Cosmos uses a Tendermint-based Proof-of-Stake to facilitate cross-chain derivatives trading on Ethereum and many other layer-1 protocols. Injective Protocol is a universal DeFi protocol for cross-chain derivatives trading between various financial products such as perpetual swaps, futures and spot trading.
The platform uses both the Ethereum and Cosmos ecosystems via stable regions to create a fast crossover. Injective aims to build a network that is insecure, censorship-resistant, publicly verifiable, and resistant to front-end. Injective Protocol is crash-proof and uses Verifiable Delay Function (VDF) to prevent front running.
INJ is the native token of the Injective Protocol and is used in a wide variety of functions such as:
- Protocol governance
- Capture change fee value
- Derivative collateralization
- Liquidity mining
- Staking
Where to buy Injective Protocol coin (INJ)? What is the price of INJ?
Injective Protocol coin can be purchased from the listed cryptocurrency exchanges. Before making a transaction, it is necessary to choose a “reliable” exchange by doing careful research. As of August 23, 2021, the value of 1 INJ is around $12.94. The circulating supply of Injective Protocol coin is 32,655,553 INJ. Its total supply is 100,000,000 INJ.
Caution: The information contained in this content is for informational purposes only. It is not investment advice.
For information about crypto currency: https://en.wikipedia.org/wiki/Cryptocurrency
