overview of the token and DeFi-protocol, terms of INJ distribution on Binance Launchpad: Injective Protocol Is a decentralized two-layer protocol that unlocks the potential of decentralized derivatives and unlimited DeFi opportunities.
The platform uses the Ethereum and Cosmos ecosystems to create a fast cross-chain trading infrastructure without the cost of gas bills. INJ – a token to manage the protocol, incentivize users and provide financial derivatives. Bitcoinminershashrate.com editorial staff offers an overview of the project and the Injective token. The INJ sale on the Binance Launchpad platform starts on October 19. INJ 9 million will be sold, which is 9% of the total supply. The end of the lottery is October 21.
Introducing Tokensale @InjectiveLabs $INJ на #Binance Launchpad 💥
The Injective Protocol token sale will be held in the format of a lottery with the recording of user BNB balances, which began on 13.10.2020 3:00 (Moscow time).
More details: https://t.co/MrhoJE4U1j pic.twitter.com/WLxBnAS8qo
– BinanceRussian (@BinanceRussian) October 15, 2020
The content of the article
The Injective Protocol is at the heart of a fully decentralized cryptocurrency exchange that supports a wide range of derivatives, including CFDs, perpetual swaps, and more. The system provides a launch environment compatible for EVM, DeFi applications and a zone for transferring Ethereum and ERC-20 tokens to Injective. The Injective orderbook is completely decentralized and operates on a 0x basis. It allows you to transfer orders along the side chain with settlements within the main chain.
The process of creating a market is as open as possible and has no restrictions. Anyone can create an exchange pool and implement it in the Injective ecosystem. The protocol will help avoid excessive network loads and associated high gas charges thanks to an innovative two-layer architecture.
Main functions:
The goal of creating Injective is to provide people with truly free and decentralized trade. Many DEXs claim that they are decentralized, but in fact, in most aspects, besides storage, they are centralized – they restrict access to certain categories of users, they themselves control the exchange infrastructure, and force traders to obey some authority.
INJ is a proprietary asset of the Injective protocol, which is used in a wide range of functions such as:
Project CEO – Eric Chen, Bachelor of Science from New York Business School Stern School of Business, who was previously a Research Fellow at Innovating Capital, Manager at Splash. Co-founder and CTO Albert Chon previously worked as a software engineer at Amazon, was a researcher at the Stanford Distributed Parallel Processing Laboratory and a consultant at Open Zeppelin.
The circulating emission is equal to 15,222,222 INJ (15.22%). The maximum issue is INJ 100,000,000.
Binance Launchpad will distribute INJ 9,000,000 (9.00%) over two days from October 19-21, 2020. Initially, the specified value of the token is $ 0.4.
Sale details:
Beginning October 13, all members’ BNB balances will be fixed hourly for a six-day period. The final daily average BNB balance over six days will reveal the number of tickets the user can count on.
Pros:
Minuses
It is significant that Injective Protocol is supported by the Binance exchange – as you can see in recent weeks, Binance is actively supporting really promising protocols and projects. Injective has a fairly rich functionality to provide users with a wide range of transactions in trading, while helping to accelerate the adoption of cryptocurrencies and blockchain in general.
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