Injective, an L1 Blockchain that Brings Cosmos and Ethereum Interoperability to Finance Apps, Shares Key Milestones from Past Year

To say that 2022 was a “monumental” year for Injective is an “understatement,” the developers claim.

This past year, Injective not only “focused on continuing to expand its ecosystem while strengthening the layer one chain, but it also accelerated its reach within the broader Web3 community, generating more news and buzz around its mission than ever before.”

The focus for the community this year was “to continue working towards its primary goal: to build the best blockchain for finance.”

With numerous new integrations, “ranging from creating a more interoperable network to providing easier fiat onboarding solutions, multiple protocols were able to launch on Injective, enabling a wide array of new use cases that can cater to the next billion crypto users.”

Publications, partners and notable leaders all took note, which culminated in a solid raise for Injective, “with $40 million in funding from financial institutions, Jump Crypto and BH Digital.”

As Injective enters 2023, they took a look back on all the progress built this past year.

They claim it is imperative as it “not only shows how far Injective has come but all that can be achieved in one year as it continues to stay in the forefront of driving innovation and adoption of Web3 finance.”

Major Injective Milestones

  • The Injective ecosystem is growing at an “astonishing” pace
  • The Injective ecosystem grew at a steady pace this year, “reaching a great deal of new milestones along the way.”

Some major highlights from this year include:

  • The launch of a multichain CosmWasm smart contract layer for building truly decentralized interoperable dApps
  • Over 140 million transactions processed
  • Over 22 million blocks produced on mainnet with zero downtime
  • Reaching one of the fastest block times in the history of crypto (1.1s)
  • Offering the lowest transactions fees ($0.0002) among major layer ones
  • Continuing to be one of the top IBC enabled zones in the Cosmos ecosystem
  • Integrations with Cosmos, Polkadot, Solana, and other prominent layer ones
  • Raising a new $40M round from the likes of Jump Crypto and Brevan Howard
  • Exchange dApps on Injective reaching over $7.78 billion cumulative trading volume to date
  • Frontrunner, the decentralized prediction market built on Injective, launched its testnet and raised $4.75M in a seed round
  • Carrying out the largest community-led INJ token burn
  • The native INJ token attaining support from all major exchanges worldwide (Coinbase, Binance, etc.)

As covered, Injective claims it is “a lightning fast interoperable layer one blockchain that brings Cosmos and ethereum interoperability to the premier finance applications.”

Injective reportedly “provides developers with powerful modules for building exchange, DeFi, derivatives & Web3 apps.”

INJ is “the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem.” Injective is “incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.”

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