Sell Injective (INJ) for AUD

Introduction to INJ

INJ is the native utility token of Injective Protocol, a decentralized finance (DeFi) platform designed to facilitate cross-chain trading of various assets. Injective Protocol aims to create a more decentralized and transparent financial ecosystem, empowering users with unrestricted access to financial markets without intermediaries.

How INJ Works

INJ operates on the Injective Protocol, which is a layer-1 blockchain built on the Cosmos network. This enables high interoperability with other blockchains like Ethereum, Solana, and more. INJ is used for governance, allowing holders to participate in protocol decisions through a decentralized autonomous organization (DAO). Additionally, INJ is utilized for staking, securing the network via a Delegated Proof-of-Stake (DPoS) consensus mechanism, and for paying transaction fees within the ecosystem​.

The Benefits of INJ

Injective Protocol offers several unique advantages:

Decentralization and Governance: Injective is governed by its community through a DAO, ensuring that all protocol updates and new features are decided democratically.

Interoperability: By supporting cross-chain interactions, Injective enables seamless trading and asset transfers across various blockchain networks.

Front-Running Resistance: Injective employs a frequent batch auction model to prevent predatory trading practices, ensuring fair and transparent transactions.

Deflationary Tokenomics: INJ incorporates a buy-back and burn mechanism where 60% of trading fees are used to purchase and burn INJ tokens, reducing the total supply and potentially increasing the token's value over time​.