|Circulating Supply||15,222,222 INJ (15.22%)|
|Total Token Supply||100,000,000 INJ|
|Binance Launchpad Sale Price||0.4000 USD / INJ|
|Binance Launchpad Allocation||9,000,000 INJ (9.00%)|
Injective Protocol is a universal DeFi protocol for cross-chain derivatives trading across a variety of financial products such as perpetual swaps, futures, and spot trading.
The platform utilizes both the Ethereum and Cosmos ecosystems via peg zones in order to create a fast cross-chain trading infrastructure without gas fees expenses. Injective aims to build a network that is trustless, censorship-resistant, publicly verifiable, and front-running resistant.
Injective Protocol provides a vertically integrated infrastructure that allows anyone to create and trade on any derivative market. Injective Protocol currently supports perpetual swaps and Contract For Difference (CDFs), and will support other derivatives in the future.
Some of Injective Protocol's key elements include:
Injective Protocol is comprised of four principal components:
Figure: Injective Technical Architecture
Source: Injective Protocol Management Team.
The Injective Chain is a fully decentralized sidechain relayer network which serves as a layer-2 derivatives platform, a Trade Execution Coordinator (TEC), and decentralized orderbook. Injective Chain utilizes the Tendermint consensus mechanism and the core protocol logic is implemented through Cosmos-SDK modules.
The Injective Chain supports building generalized derivatives applications through two avenues: the Injective Futures Protocol and general smart contracts.
The Injective Futures Protocol is deployed on the Injective Chain as a Cosmos-SDK based application. This protocol enables traders to create, enter into, and execute decentralized perpetual swap contracts and CFDs on any arbitrary market.
The Injective Chain provides a two-way Ethereum peg-zone for ETH and ERC-20 tokens to be transferred to the Injective Chain as well as an EVM-compatible execution environment for DeFi applications. The peg-zone is based on Peggy and the EVM execution is based on Ethermint.
The Injective Chain EVM is a Geth based EVM implemented as a custom Cosmos-SDK module (akin to Ethermint).
The user and developer experience for deploying and interacting with contracts on the Injective EVM will be the same, and all of the Ethereum RPC methods will be supported in the Injective EVM.
The Injective TEC is a decentralized coordinator implementation based on the 0x 3.0 Coordinator specification. The Injective TEC safeguards trades from front-running using Verifiable Delay Functions and enables lower-latency trading through soft-cancellations.
Injective's Decentralized Orderbook is a fully decentralized 0x-based orderbook enabling sidechain order relay with on-chain settlement - a decentralized implementation of the traditionally centralized off-chain order relay used by nearly all central limit order book decentralized exchanges.
Nodes of the Injective Chain host a decentralized, censorship-resistant orderbook which stores and relays trading orders.
Ethereum ⮂ Injective Peg Zone: Both ETH and ERC-20 tokens can be transferred between Ethereum and the Injective Chain through the Injective Peg Zone. The process to do so follows the standard flow as defined by Peggy.
Ethereum → Injective Chain: The following is the underlying process involved in transferring ETH/ERC-20 tokens from Ethereum to the Injective Chain. Validators witness the locking of Ethereum/ERC-20 assets and sign a data package containing information about the lock, which is then relayed to the Injective Chain and witnessed by the EthBridge module. Once a quorum of validators has confirmed that the transaction's information is valid, the funds are released by the Oracle module and transferred to the intended recipient's address. In this way, Ethereum assets can be transferred to Cosmos-SDK based blockchains.
This process is abstracted away from the end user, who simply needs to transfer ETH/ERC-20 assets to the Injective Peg Zone (IPZ) contract.
Figure: Injective Technical Architecture
Source: Injective Protocol Management Team.
Injective Protocol is a token-based protocol which is inextricably linked to the INJ token. As such, key components of protocol interactions and token economics are implemented through the following smart contracts:
Injective Coordinator Contract: Services both 0x-based orders as well as Injective's derivative transactions on Ethereum and on the Injective Chain.
Staking Contract: Manages the core functions for stakers in Injective Protocol including slashing, rewards, delegation and governance.
Injective Futures Contracts: A suite of smart contracts that enable traders to create, enter into, and execute decentralized perpetual swap contracts on any arbitrary market.
Injective Bridge Contracts: Encompasses a suite of smart contracts managing the two-way peg between Ethereum and the Injective Chain.
Injective Token Contract: ERC-20 contract for the INJ token.
Injective API nodes have two purposes: 1) providing transaction relay services and 2) serving as a data layer for the protocol.
Although users can directly interact with the Injective Chain by broadcasting a compatible Tendermint transaction encoding a compatible message type, doing so would be cumbersome for most users. API nodes provide users a simple HTTP and Websocket API to interact with the protocol. The API nodes then formulate the appropriate transactions and relay them to the Injective Chain.
The Injective API supports the Injective Futures API, the 0x Standard Relayer API version 3 (SRAv3), and the 0x Standard Coordinator API.
The API also provides abstractions for protocol actions including staking, voting and governance. The specification for this API can be found at api.injective.dev.
Injective API nodes also serve as a data layer for external clients. Injective provides a data and analytics API which is out-of-the-box compatible with Injective's frontend interface. Although Injective provides the API server as an in-process service based on BadgerDB communicating over Google Remote Call Procedure (gRPC) with the Injective Chain node, developers can provide their own implementations for their custom needs (e.g. using a relational database for indexed queries).
Injective Protocol is a fully decentralized protocol which allows for individuals to access the protocol in a permissionless manner. Injective provides a user-friendly frontend interface which individuals or companies can run locally or host on a web-server to interface with the protocol. This interface is also deployed on the InterPlanetary File System (IPFS).
|Binance Launchpad Sale||9.00% of the total token supply|
|Seed Sale||6.00% of the total token supply|
|Private Sale||16.67% of the total token supply|
|Team||20.00% of the total token supply|
|Advisors||2.00% of the total token supply|
|Ecosystem Development||36.33% of the total token supply|
|Community Growth||10.00% of the total token supply|
|Seed Sale Allocation||6,000,000 INJ|
|Seed Sale Token Price||0.0833 USD / INJ|
|Seed Sale Amount Raised||500,000 USD|
|Private Sale Allocation||16,666,667 INJ|
|Private Sale Token Price||0.1800 USD / INJ|
|Private Sale Amount Raised||3,000,000 USD|
|Launchpad Sale Allocation||9,000,000 INJ|
|Launchpad Sale Token Price||0.4000 USD / INJ|
|Launchpad Sale Amount to be Raised||3,600,000 USD|
|Launchpad Sale Date||Oct 19th 2020|
All funds in previous fund raises were raised in stablecoins and fiat currencies. The stablecoins are either self-custodied and stored in multisig wallets, requiring at least 2 out of 3 signatures from the management team or are stored with a qualified custodian.
Funds will be utilized according to the allocations below:
The use cases intended for INJ include but are not limited to: protocol governance, exchange fee value capture, derivative collateralization, liquidity mining, and staking. Further details regarding each of these use cases can be found below.
|Planned Date||Milestone||Actual Date||Timing||Comments|
|2018: Q3||Idea conception, and research of whitepaper||2018: Q3||On Time||Whitepaper|
|2018: Q4||Acceptance into Binance Labs incubation program||2018: Q4||On Time||Announcement|
|2019: Q2||Release of front-running resistant orderbook DEX||2019: Q1||Early||N/A|
|2019: Q2||Release of Cosmos-based VDF consensus demo||2019: Q1||Early||N/A|
|2019: Q3||Release of private testnet V1||2019: Q2||Early||N/A|
|2019: Q3||Release of frontend interface private beta||2019: Q3||On Time||N/A|
|2019: Q4||Private release of Injective Core, Perpetuals and CFDs||2019: Q4||On Time||Github|
|2020: Q2||Integration and creation of futures markets||2020: Q1||Early||N/A|
|2020: Q2||Launch of layer-2 functionalities||2020: Q2||On Time||N/A|
|2020: Q3||Release of private testnet V2||2020: Q3||On Time||N/A|
|2020: Q4||Release of SDKs and documentation||2020: Q3||Early||Documentation|
|2020: Q4||Launch of private testnet V3 with cross-chain trading||2020: Q3||Early||N/A|
Injective’s community is distributed globally with various hubs located in the United States, China, South Korea, Europe and Vietnam.
Injective’s community comprises mainly of the following groups: