A Letter to the Injective Community:
Today, Injective reached its second year of mainnet and on this occasion, there is an immense sense of pride and gratitude as the ecosystem reflects on the remarkable journey undertaken together.
The past year has brought incredible growth, innovation, and progress. Now is a moment to celebrate the extraordinary achievements that defines the ninja community.
This past year, Injective reached over 318 million transactions, saw more than 44 million INJ tokens staked and 5.7 million INJ tokens burned through the weekly burn auctions. These numbers represent the vitality and vibrancy of the ecosystem and its users.
Exchange dApps built on Injective reached an impressive milestone of $13.7 billion in on-chain volume. These figures are a testament to the growth and excitement the community has had towards Injective and its subsequent ecosystem dApps.
Yet, beyond the numbers, this year, more than any other before, has witnessed growth across all audiences of Injective: the developers, the individual users, and the institutional players.
Developers have been the driving force behind the progress this year. The community organized its inaugural hackathon, offering up to $1 million in global prizes and seed funding, fostering innovation and collaboration. The formation of the $150M Injective Venture Group, comprised of eight leading institutions from both Web3 and traditional finance, provided invaluable support, including financial and mentorship assistance, to nurture the ecosystem’s growth.
Injective also introduced Electro Chains this year, introducing both inEVM and inSVM, empowering Ethereum and Solana developers to leverage their existing tooling and launch applications directly on the Injective network. Additionally, Injective was selected to be one of the first ever blockchains to integrate its Web3 finance data into Google Cloud’s BigQuery platform, opening the door for core chain data to reach a mass audience.
These advancements have had a profound impact on the developers building on Injective, ultimately benefiting individual users. A myriad of new dApps launched or have announced launches on Injective, including, but not limited to, Exotic Markets, Talis, Elixir, Black Panther, Temporal Exchange, Neptune Finance, Dagora and Mito, expanding the possibilities within the ecosystem. This growth provided more avenues and use cases for individual users to engage with Web3 finance, creating a richer and more diverse experience.
A number of major releases such as native .inj domains further helped to create seamless onboarding flows for new users within the ecosystem. Moreover, Injective’s unparalleled integrations with major projects across Web3 aided in further cementing injective’s position as the leading L1 for finance and interoperability.
Injective also received a significant structural upgrade with INJ 2.0, allowing every dApp, not just exchange dApps, built on Injective to allocate transaction fees towards the token burn. This innovative mechanism opened the door for more users to participate in the token burn process, ultimately paving the way for larger INJ token burns.
The growth in the ecosystem then led to the establishment of the Injective Ambassador Program, which is flourishing with over 200,000 ninjas onboarded. These ambassadors actively engage communities worldwide, from Turkey to Nigeria, Germany to Indonesia, and beyond, cementing Injective’s global presence. In turn, Injective’s legion of supporters is growing faster than ever before, creating an everlasting bond within all those who join the revolution.
With both developer and user growth skyrocketing, it was no shock to have so many institutional players take note of Injective’s progress this year. Injective integrated with major institutional custodians, including Copper and Coinbase Custody, and most recently, the esteemed BitGo. Additionally, Injective announced the launch of Helix Institutional, a bespoke trading portal for institutions, and introduced the Open Liquidity Program, allowing institutions to provide market leading liquidity directly across Injective’s on-chain orderbook module.
This year, Injective has been relentless in its pursuit of creating a network that fosters growth and innovation for developers, individual users, and institutions alike, also making a significant stride towards bridging the gap between Web3 and traditional finance.
As the community celebrates the second year of mainnet, it is important to recognize that none of these achievements would have been possible without the unwavering dedication and support of every individual in the ecosystem. The contributions, enthusiasm, and commitment of each one of you have been the driving force behind the success.
Injective’s mission remains the same since its inception: to be the best blockchain built for finance. As Injective turns two, it is evident that remarkable strides have been made toward achieving that singular goal.
The coming year will undoubtedly bring new opportunities while hyper scaling growth across the ecosystem like never before. With the ninja community united, there is nothing that Injective cannot accomplish.
Injective is a lightning fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps. INJ is the native asset that powers Injective and its rapidly growing ecosystem. Injective is incubated by Binance and is backed by prominent investors such as Jump Crypto, Pantera and Mark Cuban.