Injective
Cosmos SDK
Injective Protocol is a fully decentralized layer-2 DEX protocol built for the next generation of decentralized derivatives exchange. The Injective Chain is a Tendermint-based IBC-compatible blockchain which supports a decentralized orderbook-based DEX protocol and a trustless ERC-20 token bridge to the Ethereum blockchain.
It is the first layer-2 fully decentralized exchange protocol for decentralized perpetual swaps, futures, and spot trading that unlocks the full potential of decentralized derivatives and borderless DeFi. Every component of the protocol has been built to be fully trustless, censorship-resistant, publicly verifiable, and front-running resistant.
APY | 5.1% |
Compounding | Manual |
Reward Distribution Period | Every block (~6 seconds) |
Unbonding Period | ~21 Days |
Validator Self-Bond Requirement | 0 INJ |
Inflation | 7% of supply, set to decrease over time until reaching 2% |
Figment Validator Address | injvaloper1g4d6dmvpg7w7yugy6kplndp7jpfm3krtschp |
Recommended Wallet |
Double Signing | 5% |
Downtime | 0.01% |
Coming soon
Governance takes place on-chain with the discussions taking place on commonwealth. Phase 1 - 500 INJ deposit required before going to a vote (maximum of 2 days to reach 500 INJ deposit requirement; this can be changed by governance) - this amount can be made up of multiple depositors; the amount is held in escrow until the proposal is finalized. In phase 2 - voting takes place (only holders of actively staked tokens can vote); the weight is proportional to their stake
What is Injective?
Injective Protocol is a fully decentralized layer-2 DEX protocol built for the next generation of decentralized derivatives exchange. The Injective Chain is a Tendermint-based IBC-compatible blockchain that supports a decentralized orderbook-based DEX protocol and a trustless ERC-20 token bridge to the Ethereum blockchain.
It is the first layer-2 fully decentralized exchange protocol for decentralized perpetual swaps, futures, and spot trading that unlocks the full potential of decentralized derivatives and borderless DeFi. Every component of the protocol has been built to be fully trustless, censorship-resistant, publicly verifiable, and front-running resistant.
What is protocol staking?
On a Proof of Stake blockchain, protocol staking is the act of depositing tokens in order to become a validator; that is, to participate in proposing and attesting to transaction blocks. Anyone with a minimum necessary coin balance can validate transactions and earn staking rewards on these blockchains.
What is the name of the asset being staked?
The native token on Injective is called INJ.
What is the INJ token used for?
INJ token is used to secure the network through staking and to participate in on-chain governance. 60% of trading fees are used to buy INJ tokens and burn them, the remaining 40% go to relayers to encourage trading activity on the exchange protocol.
Where can I explore the network and create an Injective wallet?
Explorer: https://staking.injective.network/ Wallet: Ledger
How long does it take to stake and unstake?
From the moment you initiate the unbonding process, it takes approx. 7 days to unstake. During this time, you will not earn rewards. When the process is complete, you can transfer/trade your INJ tokens.
Will I keep receiving rewards after I unbond?
No. Once you unbond you stop receiving rewards.
Which type(s) and what rate of rewards can I expect?
You should expect approx. 5.1% APY
When does rewards get distributed?
Staking rewards get automatically distributed every block (approx. 6 seconds). Figment is never in control of your rewards.
How are staking rewards distributed?
Your rewards will be calculated based on your delegations as delegated amount (base APY - validator commission / 100)%, and the tasks you are going to perform and distributed to your Ethereum address. Is staking income liquid or automatically staked? There’s no auto compounding feature in Injective, therefore, you will have to claim the rewards and delegate them to validators.
Can I lose potential staking rewards?
Your potential rewards depend upon validator performance. When your validator is down, you will not be earning staking income.
Can my staked INJ be slashed (seized or destroyed)?
Yes. Injective applies slashing penalties to both double-signing and downtime:
Double-signing occurs when your validators sign two blocks at the same height. In this case, both validators and delegators would be slashed by 5% of the assets staked. Downtime occurs when you delegate to a validator that misses 10,000 blocks, which is approx. 18 hours. In this case, both validators and delegators would be slashed by 0.01% of assets staked for 10,000 blocks.
What is the rate of new issuance (aka "annual inflation") for INJ?
How does the token supply change? The target INJ inflation is 7% at genesis and it’s set to decrease over time until reaching 2%. Therefore, the total supply of INJ will diminish over time due to the deflationary mechanism.
What is the total supply of the INJ token?
The total maximum supply of INJ tokens is set at 100,000,000 INJ
Do I maintain custody of my INJ tokens?
Who or what controls my staked tokens? Yes, Figment is non-custodial, which means we are never in control of your staking income and staked asset. Figment has partnerships with a number of top-in-class custodians: For inquiries, please contact [email protected]
How are decisions about Injective made and executed?
Governance is on-chain, only holders of actively staked INJ tokens can participate in voting. Proposals are discussed on Commonwealth and can be also viewed here. For more details on the governance proposal procedure read here.
Last modified 5mo ago