Welcome back to the Injective Overview. In this edition, we explore Injective’s new Policy Institute, the latest token buyback, and new tokenized music collab.
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Injective By The Numbers
$INJ price: $6.82 (+49%)
Token market cap: $682.4M (+45%)
Total $INJ staked: 57.3M (-0.17%)
Staking APR: 6.25% (-0.16%)
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Injecting The Biggest Developments
What’s happening: Injective has launched the Injective Policy Institute (IPI), a Washington D.C.-based policy and research arm that will engage U.S. regulators and lawmakers on matters relating to DeFi, onchain derivatives and perpetual futures, and stablecoins.
Why it matters: The IPI gives Injective a direct channel to the policy process so that it can have a say in how some of its core products are treated under U.S. law.
The IPI is chaired by John Medel, who leads Injective's policy work and previously held roles at Coinbase and Goldman Sachs. The IPI will also have two external advisors: Ashok Pinto, a former senior official at the U.S. Treasury, the World Bank, and the White House Counsel's Office; and Stacey Rolland, who has worked with the U.S. Treasury and Congress.
The Institute will also join the Blockchain Association, a U.S. crypto advocacy group.
The bigger picture: Recently, the Senate Banking Committee advanced the Digital Asset Market Clarity (CLARITY) Act in a bipartisan 15-9 vote, sending it to the full Senate for further consideration.
The CLARITY Act establishes ground rules for stablecoin yield, draws the line between SEC and CFTC oversight, and sets rules for trading, registration, and decentralized finance.
Having a voice in advocacy will prove useful in the long run because onchain derivatives, perpetual futures, tokenized equities, and DeFi lending are part of Injective’s main focus.
Expanding The Financial Ecosystem
Updates on the latest network of dApps, validators, builders and more helping Injective expand its financial use cases.
Injective completed its May Community BuyBack, removing 42K INJ tokens (worth roughly $241K) from supply
Injective opened applications for Nova Program, a joint initiative by Injective, Microsoft and Web3Labs that offers up to $10K in grants and rewards
Musicow has struck a strategic partnership with Injective to let users purchase tokenized music albums of South Korean artists
Nansen has signed up to become a validator on Injective, and has released an analytics suite of dashboards, wallet trackers and token charts
Explore Injective’s institutional overview here
From The Injective Ninjas 🥷
Highlighting the builders, communities and ecosystem players within the Injective blockchain.
Circle and Injective hosted a livestream covering how to integrate USDC and CCTP. They also answered questions from community developers
Injective created a registry for AI agents created within its ecosystem and the actions they can take
Lumera has integrated with Injective, letting dApp developers gain access to Cascade’s metadata, proof records, and NFT assets across its node network
BinanceUS added staking for INJ
Dive Deeper Into Injective
Want to get involved in the ecosystem?
Find the latest job postings on Injective Labs here
Sign up for the Injective Summit, scheduled for July 16 in Washington D.C.
Explore Injective’s institutional overview here
Until next time!
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.