Injective 

INJ Price

What is the Injective (INJ) coin?

Injective is an open, interoperable Layer 1 blockchain purpose-built for on-chain trading and finance. The network provides plug-and-play financial primitives — on-chain orderbook infrastructure plus derivatives and exchange modules — that power decentralized exchanges, lending markets, and prediction markets. INJ is the native proof-of-stake coin, used for governance, staking, and network fees. Binance Labs incubated the project; founders Eric Chen and Albert Chon launched it with interoperability across Cosmos, Ethereum, and Solana.

Is INJ a coin or a token?

INJ is a coin — the native asset of the Injective Layer 1 blockchain, not a token issued on another network. A wrapped ERC-20 version of INJ also exists on Ethereum and BNB Smart Chain; that wrapped form is what trades on decentralized exchanges such as Uniswap and PancakeSwap. DropsTab classifies Injective under Blockchain, alongside Binance Launchpad assets.

How does the Injective blockchain work?

Injective runs as a proof-of-stake network with financial modules built in. The exchange module gives developers ready-made on-chain orderbook infrastructure, so decentralized markets settle on-chain instead of relying on off-chain matching. The derivatives module supports perpetual and expiring markets. Interoperability bridges connect Injective to Cosmos, Ethereum, and Solana, letting assets and orders move across all three ecosystems.

What is INJ staking and what are the rewards?

INJ holders stake by delegating to validators; staked INJ secures the proof-of-stake network and earns rewards paid from staking emission. Staking emission was initially set at 7% at genesis and is adjustable within bounds. The INJ 3.0 upgrade in April 2024 made inflation dynamic, tying the emission rate to staking participation. Stakers also receive governance rights over network proposals.

Is INJ's total supply capped?

No — INJ has no fixed maximum supply. Genesis supply was 100,000,000 INJ at the token generation event on October 21, 2020. Net supply depends on the balance between two opposing forces: inflationary proof-of-stake emission and deflationary burns. The IIP-617 "INJ Supply Squeeze" proposal, passed in January 2026 with 99.96% staker approval, doubled the network's deflation rate specifically to keep net supply shrinking.

How does the INJ token burn work?

The burn mechanism makes INJ deflationary by permanently removing tokens from circulation. Since December 2021, 60% of exchange dApp fees have been auctioned weekly, with winning INJ bids burned. Since October 2024, the Community BuyBack has replaced the winner-take-all auction — committed INJ funds market buybacks, and every purchased token is burned. Over 6.87 million INJ had been removed from circulation by January 2026, per the Injective blog.

What does Injective's vesting history mean for token unlock sell pressure?

Per DropsTab vesting data, the schedule tracked 42 unlock events and every one is historical. Team (20%), advisors (2%), private sale (16.67%), and seed (6%) allocations vested on cliffs through 2023, with the final events completing around early 2024. No future vesting unlocks remain. Supply risk today comes from staking emission, not cliff expiries — the unlock overhang that pressured 2020–2023 has fully expired.

Who backed Injective and how much did the project raise?

DropsTab fundraising data shows roughly $57.1M raised across five rounds. Binance Labs backed the $500K seed in October 2018; Pantera Capital led the $3M private sale in July 2020; the Binance Launchpad sale followed in October 2020 at $0.40 per token with no lockup. Later rounds added Jump Crypto and BH Digital ($40M, August 2022), BlockTower, Hashed, and angel investor Mark Cuban.

Where can I buy INJ?

Per DropsTab data, INJ trades on 90+ markets across 50+ venues. Centralized exchange spot listings include Binance, Coinbase, Kraken, OKX, Bybit, and Upbit; perpetual futures trade on Binance Futures, Hyperliquid, Deribit, and other venues. Decentralized exchange liquidity covers the wrapped ERC-20 form on Uniswap and PancakeSwap, while native INJ trades on Injective's own orderbooks and Cosmos venues such as Osmosis. Liquidity across tier-1 exchanges is deep.