We’re excited to welcome INJ, the native crypto of Injective, to Bitso!
Injective is a highly optimized Layer 1 blockchain tailored for (DeFi) applications. Built with speed, composability, and scalability in mind, Injective empowers developers to create next-generation financial applications—from decentralized exchanges (DEXs) to prediction markets and beyond.
What is Injective?
Injective is a Layer 1 blockchain built using the Cosmos SDK and optimized for decentralized finance. Its core features include a lightning-fast Tendermint*-based consensus engine, seamless cross-chain interoperability, and a fully decentralized smart contract layer powered by the CosmWasm platform.
What makes Injective stand out is its deep integration with financial primitives**. It enables developers to launch powerful DeFi apps—like perpetuals, spot exchanges, lending platforms, and more—with near-zero gas fees and instant finality.
*Tendermint is a Byzantine Fault Tolerant (BFT) consensus engine used by many blockchains in the Cosmos ecosystem. It enables fast finality and resilience against faulty or malicious nodes.
**Financial primitives are basic building blocks used to create more complex financial products, apps or systems in DeFi.
How does Injective work?
Injective combines the flexibility of a smart contract platform with the performance of a purpose-built financial chain. Here’s how:
- CosmWasm smart contracts: Injective supports robust, secure contracts using CosmWasm, a leading smart contract platform in the Cosmos ecosystem.
- Cross-chain infrastructure: Injective connects to Ethereum, Solana, Polygon, and Cosmos chains, enabling seamless asset and data transfers.
- On-chain order book module: One of Injective’s unique features is its built-in, fully decentralized order book, which supports fast and fair trading.
What is INJ used for?
INJ, the native crypto of the Injective blockchain, serves multiple purposes within its ecosystem:
- Gas fees: INJ is used to pay for transaction fees across the Injective network.
- Staking: Users can stake INJ to help secure the chain and earn staking rewards.
- Governance: INJ holders can vote on key protocol upgrades and ecosystem proposals.
- Burn auctions: A portion of protocol fees is used to buy back and burn INJ, supporting deflationary tokenomics.
Real-world example: Instant trading on-chain
Let’s say Mariana wants to trade a new token pair not yet listed on centralized exchanges. Using a DEX built on Injective, she finds the pair with a real-time order book, fast execution, and minimal fees. She completes her trade in seconds—and knows it was finalized instantly on-chain.
This level of speed, transparency, and flexibility is possible thanks to Injective’s purpose-built financial infrastructure and its native asset, INJ.
Why INJ stands out
- Finance-first design: Built from the ground up for decentralized finance and advanced trading use cases.
- Lightning-fast execution: Finality in under 1 second, with negligible gas fees.
- Interoperable by default: Integrated with multiple chains including Ethereum, Cosmos, Solana, and more.
- Deflationary model: Regular burn auctions reduce supply based on protocol usage.
How to get started with INJ on Bitso
- Sign up on Bitso: Create your account on our app or website.
- Buy INJ: Swap your preferred local currency (MXN, ARS, BRL, COP, or USD) for INJ using Bitso’s conversion feature.
- Track the market: Use Bitso’s tools to monitor INJ price movements.
⚠️ For now, INJ is only available for conversions on Bitso. This means you can buy and sell INJ, but deposits and withdrawals to external wallets are currently disabled. However, you can send and receive INJ with other Bitso users via Bitso Transfer.
Disclaimer
INJ is the native crypto of Injective, a high-performance Layer 1 blockchain focused on enabling financial applications in a decentralized environment. While Injective introduces innovations like on-chain order books, CosmWasm contracts, and cross-chain integration, the value of INJ remains speculative and is influenced by adoption, protocol usage, and market sentiment.
The digital asset market is inherently volatile, and prices can fluctuate significantly over short periods of time. This article is for informational purposes only and does not constitute financial advice. Bitso encourages all users to conduct their own research (DYOR) before buying, selling, or using any digital asset.
