#27 / DeFiinjective-protocolPartially verified
Injective
A Cosmos-based layer-1 purpose-built for trading and derivatives.
Token
INJ
Sector
Finance-specific L1
Category
DeFi
Organizations
0
Coverage
9/11
Live market data
INJ market
CoinGecko data; may be delayed.
Tokenomics
No declared max supply: no FDV is computable, supply follows demand.
- Circulating supply
- 100.00M
- Total supply
- 100.00M
- Max supply
- No cap
100.0% of the achievable supply is already circulating.
All-time high (ATH)
$52.62 -85.25% · Mar 14, 2024
Source: CoinGecko, snapshot of Oct 27, 2026. Figures may be delayed.
On-chain fundamentals
- Chain TVL
- $15.93M
Source: DefiLlama, data as of · Revenue is not reported by every protocol.. Figures are informational, not financial advice.
Why it matters
Injective is a layer-1 built with the Cosmos SDK that ships financial primitives at the protocol level, including a native on-chain order book rather than the automated market makers most chains rely on. That design targets traders and derivatives applications directly, and its IBC connectivity lets assets move across the wider Cosmos ecosystem.
General research guidance, not analysis specific to this asset. Detail is pending.
Track the real organization or foundation behind the token, not just the ticker.
Separate token utility from price action before building a position.
Compare network usage, liquidity, incentives, and governance quality against nearby competitors.
How it works
Injective is a purpose-built layer 1 for finance: an app-chain where the orderbook itself is on-chain infrastructure rather than an off-chain service. Every node runs a decentralized orderbook and matching engine, so spot and perpetual markets settle with exchange-grade speed on sub-second blocks, and other protocols can compose against shared liquidity. A CosmWasm execution layer and an EVM-compatible environment let teams deploy financial dApps that inherit the chain's front-running-resistant matching.
Token utility
Staking to secure the network
Fees and collateral across its financial applications
Governance over protocol and market parameters
Value capture
INJ has three structural sinks: staking secures the chain and earns block rewards, the insurance fund backs markets, and a weekly fee-value auction collects protocol fees — 60 percent of which are burned — in exchange for bidding on the accumulated basket. Rising usage therefore feeds a deflationary loop that requires nobody to lock liquidity by hand. The burn is programmatic and public: each auction's outcome is recorded on-chain.
Supply and issuance
INJ carries a hard cap of 100 million tokens from genesis, and the ongoing burn program can only reduce effective supply below that ceiling. Emissions go to stakers and ecosystem incentives under on-chain parameters that governance can adjust. The relevant quantity for valuation is circulating supply net of burned tokens, which drifts downward as auction volume grows.
Governance
Upgrades, fee parameters, market listings and treasury grants are proposed and voted on-chain by staked INJ holders. Because Injective is a validator set with delegated stake, governance power concentrates with large stakers and exchanges — the mechanism is transparent, but quorum skews professional rather than retail.
Key risks
Competes directly with high-liquidity centralized and on-chain derivatives venues
Activity can concentrate in a small number of applications
Cosmos-ecosystem liquidity is fragmented across app-chains
Frequently asked questions
How does the Injective burn work without hurting stakers?
The burn draws from the weekly fee-value auction, which sells accumulated protocol fees to the highest bidder and burns 60 percent of the proceeds. Staking rewards come from a separate emission stream, so stakers are not directly taxed by the burn — both mechanisms instead feed on the same source, real trading and market usage on the chain.
What makes Injective different from a general DeFi chain?
On general chains the orderbook lives off-chain and settlement trusts an operator; Injective put the orderbook and matching engine into the chain itself, so every market is MEV-resistant by consensus and liquidity is shared infrastructure. The tradeoff is focus: it is optimized for financial markets and less general-purpose than a full smart-contract platform.
References
Last verified:
- Injective | Layer 1 Blockchain Infrastructure for Finance
Injective · injective.com · primary source
The project's official site, retrieved on the date shown, supporting how it describes itself. It does not establish supply, governance or issuance mechanics.
Accessed
Linked organizations
MapPending linkage to a concrete organization on the map.
Relationships
Related to
Cosmos
Adjacent asset in the same research context.
Directory suggestion, pending verification.
Related to
Solana
Adjacent asset in the same research context.
Directory suggestion, pending verification.
Related to
Ethereum
Adjacent asset in the same research context.
Directory suggestion, pending verification.
Related to
Sei
Adjacent asset in the same research context.
Directory suggestion, pending verification.
