Injective (INJ) is a decentralised platform for running fast, secure, and scalable decentralised finance (DeFi) applications. It supports decentralised exchanges (DEXs), derivatives, and other financial products. Using a unique proof-of-stake consensus mechanism and a high-performance design, Injective also enables quick, low-fee trading.
Note
Luno does not currently support sending or receiving INJ, but you can still buy or sell it like any of our other cryptocurrencies. This decision has been made in order to ensure there are appropriate controls in place to maintain the highest standards of investor protection. Learn more about why you can't send or receive INJ.
Who created Injective?
Injective was created in 2018 by Eric Chen and Albert Chon with the aim of revolutionising DeFi. Eric, a trading and finance expert, and Albert, a skilled blockchain developer, built Injective to tackle limitations with other blockchains, such as high fees and slow transactions.
Together, their goal was to create a fast, scalable, and fully decentralised platform, empowering users with secure trading, cross-chain compatibility, and a seamless DeFi experience.
How does the Injective protocol work?
Injective is a layer 2 blockchain built to make DeFi faster, more affordable, and fully decentralised. It uses a proof-of-stake (PoS) consensus mechanism, where users stake INJ tokens to secure the network and process transactions, earning rewards in return.
Built on the Cosmos blockchain, Injective connects seamlessly with other blockchains, allowing easy asset trading across different networks. The platform powers DEXs, derivatives trading, and other financial products without relying on intermediaries. This reduces fees, speeds up transactions, and gives users full control over their assets.
With its focus on speed, security, and cross-chain compatibility, Injective helps expand the DeFi ecosystem by providing a smooth, user-friendly trading experience across multiple blockchains.
What is Injective’s native cryptocurrency?
The native cryptocurrency of the Injective Protocol is INJ. In the Injective ecosystem, validators and delegators receive INJ as rewards for securing the network and processing transactions. These rewards come from fees paid by users for trading, creating markets, and executing smart contracts.
INJ is also integral to the protocol’s governance, empowering token holders to vote on proposals that determine the platform's evolution. This governance framework proved essential in 2022 when the community voted to enable cross-chain trading capabilities, enhancing Injective's interoperability. The upgrade introduced new bridges to networks like Cosmos and Ethereum, expanding market access and liquidity. The transition was carefully structured, ensuring INJ retained its role as the core currency for transaction fees, staking, and governance decisions across the expanded ecosystem.
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This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.