Injective (platform)

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
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.

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

In July, Injective underwent a "CosmWasm mainnet" upgrade in order to bring scalable smart contracts to Injective. 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.

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