Wormhole Chains — Injective
Welcome to the latest edition of the Wormhole Chains series, where we discuss some of the latest chains that have been added to the Wormhole network.
Today, for the first time, Wormhole is connecting to the broader Cosmos ecosystem — via Injective!
1. What is Injective?
Injective is an L1 that is uniquely optimized for building decentralized finance applications such as exchanges, derivative protocols, prediction markets, option protocols and launchpads.
Injective offers developers out-of-the-box modules such as a completely decentralized order book that can be utilized to build a diverse array of sophisticated applications. This modular system allows new and exciting products to be built in a fast and secure way that maintains composability.
Because Injective is built using the Cosmos SDK, it is able to achieve instant transaction finality using the Tendermint proof-of-state consensus framework. More on that later.
2. What’s cool about Injective?
Exclusive Focus on Finance Products
Injective is focused on providing capital efficiency and the best-in-class user experience. Injective strives to accomplish this by providing people with an interoperable decentralized infrastructure layer that gives people unprecedented access to decentralized financial markets, products, services and tools.
Thanks to the IBC (Inter-Blockchain Communication protocol), the Cosmos SDK and full Ethereum compatibility, the Injective blockchain can be easily connected to other chains, allowing for easy cross-chain migration and interoperability. CosmWasm, a novel smart contracting platform built for the Cosmos ecosystem, gives developers the ability to easily launch their own smart-contract-powered applications on Injective while seamlessly migrating smart contracts from other chains using CosmWasm.
Utilize Cosmos’ Security
Injective is built with Tendermint, a state-of-the-art blockchain engine, that allows software to be securely and consistently replicated.
But what is meant by “securely”? Well, it means that Tendermint continues to work, even if up to 1/3 of machines fail in arbitrary ways. The ability to tolerate machines failing in arbitrary ways — including becoming malicious — is known as Byzantine Fault Tolerance (BFT).
Furthermore, “consistently” in that context means that every non-faulty machine sees the same transaction log and computes the same state. Learn more here.
Coming Soon: Project X
Injective just announced Project X at Cosmoverse 2022 where it won the most promising project award. Project X is a combination of strategy vaults for passive yield generation, AMMs with impermanent loss (IL) protection, and a one-click launchpad for fundraising and listings.
3. The Team behind Injective
The Injective Labs team is made up of 40 individuals with decades of collective experience working at quantitative hedge funds (i.e. Tower Research, Two Sigma), tech companies (i.e. Tesla, Amazon), and crypto exchanges (i.e. OKX, Kraken).
4. Anything else?
INJ, the blockchain’s native utility token, is used for protocol governance, dApp value capture, PoS security, staking and developer incentives.
Documentation & GitHub
Contact & Socials
Stay up to date with Injective by following their social channels:
5. Wormhole Noob? No problem!
If you’re new to Wormhole, here’s what you need to know:
⚬ The protocol’s total volume stands at over $35B, with several million messages successfully transmitted.
⚬ Currently, thousands of messages are submitted each day.
Check out Chase M., a Wormhole contributor, explaining more about Wormhole below:
6. Wormhole’s supported networks
Applications built with Wormhole allows users to send assets to and from any of the supported chains without double-wrapping the asset. It enables seamless access to each network’s vibrant DeFi and NFT ecosystems!
Injective will be the latest addition to Wormhole’s network of supported chains — check out the Portal bridge to see which chains you can bridge to!
7. Join the ever-growing Wormhole community
If you have questions, need support, or just want to connect, join the Wormhole community and keep up to date with our upcoming announcements. We’re always happy to hear feedback — join our Discord, and drop us a comment!