Injective's May Community Update; Latest Releases, Helix 2.0, and Beyond
Injective's leadership in the DeFi sector continues to be demonstrated through consistent advancements and innovative launches. The recent achievements in the month further emphasize the impressive progress within the Injective ecosystem.
The integration of Arbitrum represents a significant advancement for Injective. The InEVM platform was carefully crafted to cater to the specific requirements of Injective and the wider Ethereum ecosystem. Through the collaboration with Arbitrum, inEVM users now have access to a more comprehensive developer toolkit, previously only available in the Ethereum L2 ecosystem. This partnership enhances the capabilities of inEVM, empowering developers with access to Ethereum functionality while benefiting from the swift transaction speeds and low fees offered by Injective.
Exploring Arbitrum
Arbitrum introduces a range of Ethereum scaling solutions aimed at streamlining the development and use of decentralized applications. This suite encompasses protocols, chains, and SDKs that drive the Arbitrum ecosystem. A key component of this suite is Arbitrum Orbit, empowering projects to establish their own Rollup and AnyTrust chains.
The Fundamentals of inEVM
Central to inEVM is Arbitrum's Orbit stack, crafted by Offchain Labs. This stack forms the groundwork for constructing scalable, secure, and efficient layer 2 solutions, enabling the seamless integration of smart contracts across various blockchain platforms.
A Dynamic inEVM Environment
By seamlessly combining elements from Arbitrum and the native Injective mainnet, inEVM provides an exceptional developer experience.
Native Gas Token: InEVM utilizes INJ as its native gas token, marking a pioneering advancement in the realm of L2 rollups.
Developer Tools: InEVM offers the familiar developer tools commonly utilized on Ethereum, including Hardhat and Foundry.
Speed and Cost Efficiency: InEVM maintains the rapid transaction speeds and cost-effective gas fees synonymous with Injective’s platform.
Enhanced Transaction Processing Efficiency: Through InEVM, Injective demonstrates its commitment to creating a user-friendly and economically sustainable ecosystem by improving transaction processing efficiency.
Burn Auction Participation: InEVM transactions are eligible to participate in Injective’s innovative Burn Auction, which systematically burns a percentage of all protocol fees on a weekly basis, thereby creating value for all ecosystem participants — users, community members, and developers alike.
The Central Hub for Ethereum and Injective
The partnership's impact goes beyond just one blockchain platform. Through InEVM, Ethereum, Injective, and Cosmos are connected, enabling cross-chain capabilities and nurturing a more integrated blockchain environment. This compatibility allows for the smooth transfer of assets and liquidity across different blockchain networks.
As Injective works to connect Ethereum, Cosmos, and other popular Layer 1 networks such as Solana, it is dedicated to fulfilling its goal of establishing a decentralized financial future.
In May, a significant development occurred through the integration of Injective and Arbitrum, marking a major milestone in interoperable EVM infrastructure. This collaboration enhances transaction throughput and efficiency for inEVM, providing a more versatile platform for developers and users. The upgraded infrastructure delivers a more seamless, responsive, and cohesive experience, demonstrating Injective's dedication to innovation and excellence.
This integration is notable for its ability to blend the strengths of Injective and Arbitrum, creating a unified platform that maximizes the benefits of both ecosystems. The advanced architecture of this combined infrastructure improves development processes, expands application potential, and streamlines blockchain interactions. These enhancements aim to enhance accessibility, efficiency, and versatility in decentralized finance, meeting a variety of user needs and preferences.
Advancing Interoperable Blockchain Infrastructure with Arbitrum Integration
Injective's integration with Arbitrum marks a milestone in the development of a more unified and efficient blockchain ecosystem. This advancement not only propels Injective's own ecosystem forward but also contributes to the broader goal of achieving a fully interoperable and high-performing decentralized finance landscape. By embracing innovation and playing a crucial role in the progression of blockchain technology, Injective demonstrates its commitment to driving the industry forward.
Revolutionizing Decentralized Trading with Helix 2.0 Launch
The release of Helix 2.0 represents a significant leap in the decentralized finance space, introducing cutting-edge trading features and the integration of RWAs. This upgrade enhances trading efficiency, user interface, and functionality, revolutionizing the trading experience for all users. By creating a more dynamic and versatile platform, Helix 2.0 sets a new standard for decentralized trading in the industry.
Enhancing Institutional Access with Fireblocks Integration
The collaboration between Injective and Fireblocks signifies a crucial advancement in extending institutional reach into decentralized finance. By joining forces, these two entities have introduced a secure and scalable infrastructure tailored for institutional investors, thereby boosting the security, efficiency, and accessibility of digital asset transactions.
Notably, this integration is poised to revolutionize the way institutions interact with decentralized markets by delivering robust security protocols and simplified accessibility. Through leveraging Fireblocks' cutting-edge security features such as MPC-based key management and multi-layer protection, Injective guarantees the utmost security for assets. By incorporating these features, Injective offers institutional investors a more secure and streamlined platform, enabling seamless and protected transactions.
Update Highlights
Ecosystem Updates
. Synternet, a Data Layer Portal, is now providing real-time blockchain data on Injective.
. Notifi has completed integration with Injective.
Desig, the MPC multisig, has integrated with Injective.
. inEVM has revealed its integration with Arbitrum.
. Helix, a decentralized exchange on Injective, has listed ezETH/WETH.
. Band Protocol has integrated with Injective’s inEVM on testnet.
. Over 20,000 .inj domains have been registered.
. Fireblocks, the largest digital asset custodian, has integrated Injective to boost institutional adoption.
Injective Stats
. Injective has processed over 70 million blocks.
. Injective has surpassed 2.4M daily transactions.
During the month of May, a total of 63,692 INJ was burned through weekly burn auctions, bringing the total amount of INJ burned to date to 5.9 million through over 151 burns.
Gas fees paid by users on Injective have remained at zero.
The trading volume on exchange dApps on Injective hit $2.5B in May, with a peak daily volume of $110.7M on May 4th.
The market on Injective exchange dApps experienced a downward trend this month. Bitcoin (BTC) rose from 56,803 to 67,384, an increase of 23.05%, while Ethereum (ETH) surged from 2,875 to 3,779, a growth of 32.13%.
In community updates, Eric Chen CEO of Injective Labs was a guest on the Logan Jastremski podcast. Four Pillars published a case study on Injective, emphasizing the importance of Consistency and Sustainability in Blockchain. Eric Chen also spoke at Solana Crossroad.
Injective was hosted by Arbitrum for a Twitter Space event on inEVM.
SA World is awarding the community with over 9 million $SAE tokens as a token of appreciation. An informational guide titled Injective 101 has been released to assist developers in navigating the process of creating projects on the blockchain.
Injective:
Injective is a high-speed, interoperable layer one blockchain designed for the development of top-tier Web3 financial applications. Offering developers plug-and-play modules, Injective enables the creation of cutting-edge dApps. The platform is fueled by the native asset INJ, which powers the expanding ecosystem of Injective. Incubated by Binance and backed by prominent investors such as Jump Crypto, Pantera, and Mark Cuban, Injective continues to grow rapidly.
Summary
The month of May has brought about significant achievements and progress for Injective, solidifying its standing within the DeFi sector. Key highlights include the integration with Arbitrum, the launch of Helix 2.0, and the partnership with Fireblocks. These developments demonstrate Injective's unwavering dedication to innovation and excellence, as it continues to enhance the decentralized finance landscape. Emphasizing security, efficiency, and versatility, Injective remains focused on providing a seamless experience for users and developers. With its emphasis on interoperability, scalability, and user-centric design, Injective is well-positioned to drive the evolution of the blockchain ecosystem.
