Injective (platform)

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Injective

Industry| Web3
Founded| 2018
Founder| Eric Chen and Albert Chon
Website| https://injective.com/

Injective (INJ) is a platform, optimized for Web3 finance. It is an open, interoperable layer-one fintech that equips developers with plug-and-play modules for launching a wide variety of smart contract-enabled applications, including decentralized spot and derivatives exchanges, prediction markets, lending protocols, and more.

## History

[edit]

Injective was launched by Injective Labs, which was founded by Eric Chen and Albert Chon in 2018 through the first incubation program hosted by Binance Labs.[1][failed verification]

In December, Injective launched a Testnet for a DeFi trading platform built on top of its layer.[2] In April 2021, the platform raised $10 million in a “party” funding round with participation from billionaire Mark Cuban.[3]

In July, Injective underwent a "CosmWasm mainnet" upgrade in order to bring scalable smart contracts to Injective.[4] In August 2022, Injective raised $40 million in a funding round led by Jump Crypto to fund its INJ token, provide liquidity to existing dApps built on Injective, and support new dApps in the future.[5]

In January 2023, the platform launched a $150 million fund ecosystem initiative to accelerate interoperable infrastructure and DeFi adoption.[6] In July, the platform incorporated Ripple's XRP into its ecosystem.[7] In August, 2023, Injective launched Helix Institutional to help institutions access the benefits of DeFi.[8]

## References

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1. ^ Wayne, Gunter, Darrell (2021-06-18). Transforming Scholarly Publishing With Blockchain Technologies and AI. IGI Global. ISBN 978-1-7998-5591-0.`{{cite book}}`: CS1 maint: multiple names: authors list (link)
2. ^ Butcher, Mike (2020-12-03). "As crypto comes back, Binance-backed Injective Protocol launches Testnet for its DeFi trading platform". TechCrunch. Retrieved 2023-09-28.
3. ^ Butcher, Mike (2021-04-20). "Injective Protocol raises $10M from Pantera Capital, Mark Cuban for its 'DeFi Robinhood'". TechCrunch. Retrieved 2023-09-28.
4. ^ "DeFi: Injective Protocol's 'CosmWasm' upgrade adds more functionality for developers and users". ZDNET. Retrieved 2023-09-28.
5. ^ "Injective Raises $40M For its Versatile Smart Contracts Platform that Seeks to Power the Future of Decentralized Finance – AlleyWatch". Retrieved 2023-09-28.
6. ^ Melinek, Jacquelyn (2023-01-25). "Injective launches $150M ecosystem fund to accelerate interoperable infra and DeFi adoption". TechCrunch. Retrieved 2023-09-28.
7. ^ Trends, Market (2023-07-25). "Injective Soars on Planned XRP Integration, QUBE Accumulated By Crypto Whales Targeting 10X". Analytics Insight. Retrieved 2023-09-28.
8. ^ "Injective launches Helix Institutional trading portal". thepaypers.com. Retrieved 2023-09-28.

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