CRYPTO NEWS & DATA SPACE

CRYPTO NEWS & DATA SPACE

Injective Raises $40M

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Injective Raises $40M to accelerate the adoption and growth of Web3 finance with funding round consisted of Jump Crypto and BH Digital.

This new capital will enable Injective to spur further development aimed at creating the industry-leading blockchain optimized for financial applications. Injective will also continue to invest in its rapidly growing ecosystem in order to solidify its position as the premier destination for Web3 DeFi developers. The funding will also be utilized to further increase utility for the native INJ token, which powers Injective, while also creating new liquidity avenues for dApps built on Injective.

Unmatched Ecosystem Growth

Injective has continued to grow at an unprecedented level. Injective now has reached over 92 million on-chain transactions, outpacing many popular layer one protocols in the market today. Given its state of the art infrastructure, Injective is able to confirm every transaction instantly with zero delays and near zero fees.

dApps built on Injective have already generated over $7 Billion in cumulative volume, becoming one of the fastest growing ecosystems in the industry today. With the launch of its multichain CosmWasm smart contracts layer last month, Injective has now taken a pivotal step towards its evolution as it is now poised to be the leading infrastructure optimized for DeFi applications. Injective Raises $40M, Injective’s smart contract layer uniquely can enable automatic execution at every block, making it the first and only automated smart contract capable blockchain.

In addition to further development, the new raise will be able to support developers who focus on diversifying the Injective ecosystem. New applications, such as prediction markets, lending protocols, and savings dApps, can all build on Injective and utilize its core modules to continue expanding the Injective ecosystem.

Rising Institutional Adoption

The funding also helps to highlight Injective’s rapidly growing appeal within institutional circles globally.

Injective has built and is continuing to pioneer solutions. Aim to interconnect crypto with the world of traditional finance, which is crucial for the mass adoption of DeFi. Injective currently provides a number of institutional grade modules, such as a fully on-chain order book, binary options and derivatives.

About Injective

Injective is a custom interoperable layer one protocol for building powerful exchange, DeFi, derivatives & Web3 applications. Injective is using the Cosmos SDK and is able to achieve instant transaction finality while sustaining lightning fast speeds. INJ is the native deflationary scarce asset that powers the Injective Protocol and its rapidly growing ecosystem. Injective is incubating by Binance and is backing by Pantera Capital.

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RESOURCES

https://blog.injective.com/injective-raises-40-000-000-to-advance-web3-finance/

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