Introduction
Injective is a finance-focused blockchain offering robust modules for developers enabling them to create sophisticated applications. Utilising Cosmos SDK and Tendermint's proof-of-stake for instant transactions, it enables swift cross-chain transactions with major networks like Ethereum and Cosmos Hub. Its ecosystem aims to provide unparalleled access to decentralized financial markets and tools thereby enhancing efficient capital allocation.
In recent months they have seen impressive growth as illustrated by the number of new wallets accumulating their native token:
This growth has particularly accelerated in recent months with new user count reaching a daily high of 1480 at the end of January 2023:
Prior to delving into their most recent mainnet upgrade, we can take a look at their journey so far as to receive a more holistic overview:
As of yesterday, we now have the most recent addition to the above road map in the form of the Volan Upgrade.
Introduction of the Volan Upgrade: A New Era for Injective
The Volan Upgrade significantly enhances Injective's capabilities, introducing the world's first native Real World Asset (RWA) Module for managing permissioned assets and customised tokens.
Advanced Interoperability and Scalability
This upgrade expands interoperability with an advanced iteration of the Inter-Blockchain Communication Protocol, facilitating smoother cross-chain transactions through a user-friendly interface. It also boosts enterprise-grade scalability, reducing latency by up to 90% for institutional users.
Innovative Oracle Feed and Token Economics
Additionally, the new exotic oracle feed design allows seamless integration of off-chain price feeds further diversifying asset and market options. Lastly, the upgrade modifies token economics to make the INJ token increasingly deflationary and introduces a token burn feature for any bank token on Injective.
Conclusion
The Volan Upgrade marks Injective's most substantial mainnet update to date, reflecting its continual evolution as a finance-focused blockchain. This upgrade refines Injective's development modules and cross-chain transaction capabilities, aligning with its recent user engagement and wallet activation growth. Key enhancements include the innovative Real World Asset Module, improved interoperability and scalability for institutional users. The upgrade's modifications in token economics and oracle feed integration demonstrate Injective's responsive approach to technological and market dynamics. Overall, the Volan Upgrade is a strategic step in bolstering Injective's infrastructure and further reinforces its mission to enable efficient and advanced applications within the decentralised finance realm.
Disclaimer: This research report is exactly that — a research report. It is not intended to serve as financial advice, nor should you blindly assume that any of the information is accurate without confirming through your own research. Bitcoin, cryptocurrencies, and other digital assets are incredibly risky and nothing in this report should be considered an endorsement to buy or sell any asset. Never invest more than you are willing to lose and understand the risk that you are taking. Do your own research. All information in this report is for educational purposes only and should not be the basis for any investment decisions that you make.