Welcome back to the Injective Overview. In this edition we dive into POSCO and LG CNS collaboration with Injective, as well as Cardano’s expansion into Injective and what it brought, as well as the after effects from it.
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Injective By The Numbers
$INJ price: $4.45 (-9.2%)
Token market cap: $444.5M (-9.3%)
Total $INJ staked: 57.3M (+1.2%)
Staking APR: 6.95% (-1%)
Injective daily trading volume: $15.6M (-29.4%)
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: POSCO International, a South Korean trading company, and LG CNS, the IT division of LG Group, have partnered with Injective to build a proof-of-concept to tokenize trade receivables.
The pilot will tokenize receivables generated by POSCO’s business, which will be issued, transferred, administered, and settled. Each receivable will be issued as a permissioned real-world asset on Injective, and AI agents will be used to review Letters of Credit and trade documentation before transactions are settled.
🥷 Why it matters: The assets being tokenized will represent payment obligations from international commerce. Notably, tokenizing receivables will serve to reduce the duplication, redundancy and inaccuracies in record management faced in a multi-party environment. That will speed up the entire process, which will ultimately quicken cash flows for POSCO.
The pilot enabled the creation of Injective Mint to turn each receivable into one asset that every approved party looks at. Mint lets issuers write rules into the receivable itself, customizing who is allowed to hold it, where it can travel, who can issue or redeem it, and who can administer it.
🥷 The bigger picture: By tokenizing trade receivables, Injective is looking to make business more efficient through blockchain technology. If the pilot runs successfully, it can showcase how records can be aggregated into a single shared object that can programmatically maintain compliance and usage rules.
Expanding The Financial Ecosystem
Updates on the latest network of dApps, validators, builders and more helping Injective expand its financial use cases.
Four Pillars became a network validator on Injective. The Korean research firm, which has supported Injective for the past two years now, now has voting rights for governance decisions, and can support ecosystem development across Korea and APAC.
Bitwise also became a network validator, the firm’s first venture into the Injective ecosystem.
Kraken now supports native USDC deposits and withdrawals on Injective. The exchange, which has supported INJ trading since 2021 and operates an institutional validator on the network, now lets users move USDC directly to and from Injective without needing to convert to another chain first.
Injective removed 27,400 INJ from supply during its August Community BuyBack. Monthly token burns reduce the circulating supply, improving asset scarcity and deflation.
Cardano has connected to Injective via Inter-Blockchain Communication, bringing its native token, ADA, to Injective, and INJ to Cardano. ADA has a total market cap of $7.11B.
To note, Injective’s daily active user count surpassed an all-time high of 110.3K.
Injective’s block times reached as low as 600ms on August 3, following its latest mainnet upgrade. The average time required to create a new block on the blockchain,block time reflects the rate at which a network processes transactions, and consequently has an effect on its security, scalability and cost.
Explore Injective’s institutional overview here
Dive Deeper Into Injective
Want to get involved in the ecosystem?
Find the latest job postings on Injective Labs here
Check out Injective’s developer documentation for AI agents and integrating the x402 payments protocol.
Injective is co-hosting the 10X Founders Demo Day, and has committed $20,000 in capital for winning teams after passing internal due diligence.
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.