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Injective (INJ) is a decentralized exchange protocol built on Ethereum. Cosmos SDK blockchain that enables users to trade a wide range of assets, including derivatives, futures, and synthetic assets.

Lets discover Injectives Latest Updates and see how much theyve improved in the latest months.

According to CoinGecko, these are the most important indicators of Injectives tokenomics.

Anything related to the protocol is voted through the DAO, from Auction or Exchange module to protocol parameters or upgrades. So, anyone who deposits 500 INJ can open a proposal which then goes through the voting process. Right now, there are175 proposals passed out of 203 total:

Exchanges who originate orders into the shared orderbook on Injectives exchange protocol are rewarded with 40% of the trading fees, with an average minimum trading fee of 0.1% for makers and 0.2% for takers

And then the rest 60% of the trading fees are burned through the Burn Auction, where bids in INJ are placed.

The highest bid earns assets from transaction fees while INJ tokens used to bid are burned, creating a deflationary pressure to INJ supply.

This makes the basket of fees for the weekly auction keep rising, and more INJ is burned every week.

The number of unique wallets has also increased since the start of 2023, from 14,000 active wallets to currently 28,000, with an average of approximately 100 new wallets created per day.

Price action:

As a result of Injectives price surge, there has been a noticeable increase in both total transactions and active users on the platform, particularly since April.

NFT Integration:

Injective is set to launch an upcoming project called Project X, which is still shrouded in mystery with limited information available. Project X aims to introduce automated strategy vaults for market making and passive yield generation. Plus it will feature a one-click Launchpad for fundraising and listings. Monitoring announcements and updates regarding Project X will provide valuable information about Injectives ongoing development and potential enhancements to its ecosystem.

Injective (INJ) has shown significant price growth and increased transaction activity, suggesting growing interest and adoption. The integration of NFTs and the upcoming Project X further demonstrate Injectives ambition to expand its ecosystem and offer innovative features to its users.

Continuously monitoring Injectives price movement, transaction activity, NFT integration progress, and updates regarding Project X will provide valuable insights for investors, traders, and enthusiasts interested in the platform.

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Injective's Latest Updates - Altcoin Buzz