Welcome back to the Injective Overview. In this edition, we explore the expansion of Injective’s INJ token to Solana, as well as stablecoin growth and network upgrades.
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Injective By The Numbers
$INJ price: $7.82 (+36.5%)
Token market cap: $782.9M (+36.5)
Total $INJ staked: 58M (-1.4%)
Staking APR: 6.92% (+1.6%)
Injective daily trading volume: $95.7M (+138.7%)
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’s native token, INJ, is now available on Solana via Sunrise. Raydium and StonkFun, two token launchpads on Solana, are supporting INJ as a base pair for new token launches.
🥷 Why it matters: Solana consistently ranks as one of the top chains for DEX activity, so expanding INJ natively to the network exposes the token to deep liquidity pools and a large base of users.
Sunrise helps asset issuers reach users across ecosystems by expanding tokens natively to a new chain, which makes them easier to use on the new network.
Lastly, INJ liquidity is being integrated directly with Raydium, which allows DEXs and lending markets to integrate INJ without having to bootstrap their own pool. StonkFun allows creators to launch tokens against INJ, and every trade in those markets is routed through the app, further deepening INJ’s use cases and liquidity.
🥷 The bigger picture: The launch to Solana comes amidst a wider effort at Injective to expand its token to more ecosystems and userbases. Initiatives so far include: Coinbase's supporting native INJ; a number of INJ bridging guides for popular exchange venues like Robinhood and Binance; and LI.FI adding INJ to its cross-chain routing and liquidity aggregator.
Expanding The Financial Ecosystem
Updates on the latest network of dApps, validators, builders and more helping Injective expand its financial use cases.
Circle is now issuing native USDC on Injective, and Cosmos chains have started migrating off Noble USDC on September 10.
USDC will now be issued directly by Circle on Injective, rather than wrapped or bridged through an intermediary, so applications can use the same asset.
On the same day, Circle’s stablecoin supply on Injective reached an all-time high of $8.5M.
Injective’s latest network upgrade passed a governance vote to pay 24,884 INJ from the community pool to firms that keep its markets liquid.
The Open Liquidity Program compensates market makers for posting buy and sell orders so traders can get filled, which incentives liquidity providers to keep Injective’s orderbooks funded.
Injective’s code commits hit 2.4K over the last 30 days, the highest among all L1 blockchains.
Explore Injective’s institutional overview here
From The Injective Ninjas 🥷
Highlighting the builders, communities and ecosystem players within the Injective blockchain.
Sprout has added a token launchpad that lets anyone create a token by filling in a form and supplying money for initial deployment. This makes it easier for regular users to create a token on Injective without having to know programming.
Eric Chen, CEO of Injective, spoke about the network’s recent registration with the SEC as a transfer agent to support upcoming tokenized funds and private credit. He also explained how AI agents are transacting onchain using native Injective primitives.
RunUp announced it will launch a memecoin launchpad on Injective, allowing users to create tokens tied to leveraged stock perp positions.
Dive Deeper Into Injective
Want to get involved in the ecosystem?
Find the latest job postings on Injective Labs here.
Injective is hosting an event on September 29 during Korea Blockchain Week.
Check out Injective’s developer documentation for AI agents and integrating the x402 payments protocol.
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.