BLOCKCHAIN FOR FINANCE

Wisdom Oguzie
6 min readJan 29, 2024

The cryptocurrency space is a maze of abbreviations, catchphrases, and revolutionary claims. Amidst all of this commotion, Injective, a blockchain that wants to lead financial innovation, stands out for its lofty mission and laser-sharp concentration. But could it change the financial environment, or is it just another overhyped project? Now that we’ve dropped the buzzwords, let’s dig deeper and examine Injective from a better perspective.

Concentration, Not Ambiguity: A Straight Path in a Congested Area

Injective, in contrast to many other blockchain initiatives, has a very clear mission statement: to create the best Web3 finance ecosystem possible. The Co-founder of Injective Albert Chon, a person with experience in Amazon software development, believes that true effect requires this transparency. He makes the straightforward yet impactful assertion, “If you aim for everything, you hit nothing,” which speaks volumes in the frequently very ambitious crypto industry.

I guess this emphasis results in the creation of Injective a blockchain created especially for the financial industry. No more vague use cases or ambiguous utilities. The features and architecture of Injective are specifically designed to meet the requirements of traders, investors, and financial institutions. Thus, it makes sense that Injective is gaining lots of traction and igniting talk about how it can steer the next cryptocurrency boom.

Beyond Hype: Tackling DeFi’s Weaknesses

It’s a fact that traditional DeFi frequently fails due to issues with accessibility, transparency, and innovation. Injective tackles these issues head-on and here is how.

Transparency: The days of opaque processes and concealed transactions are long gone. With the help of public blockchains and open-source technology, Injective makes everything verifiable and as transparent as day. How revolutionary would it be to have financial transactions as transparent as your bank statement?

Want to know more about transactions on injective check the Explorer out. The Injective Explorer is an analytics platform that enables anyone to search addresses, trades, tokens, transactions, and other activities on the Injective

Accessibility: Forget about the gatekeepers in traditional finance who limit access using subjective standards. Anyone can enter through Injective, regardless of background or status. Participation without permission enables people and promotes a genuinely inclusive and financially inclusive system.

Engine of Innovation: This group does not support inaction. The core values of Injective are ongoing development and feature integration. This guarantees a creative and dynamic ecology that adapts to the always-changing financial scene.

Okay so now we are past why Injective should be considered above traditional finance but then why should you build on Injective?

Why Build on Injective

With robust out-of-the-box modules like a fully decentralized orderbook, developers may create a wide range of sophisticated apps on Injective, the only blockchain offering such functionalities. Injective is also a free and open platform for interoperable smart contracts.

Here’s what makes Injective stand out:

  • Ready-to-roll financial Dapps: Injective comes with built-in financial features like a fully decentralized order book, perfect for creating dApps like exchanges, prediction markets, and more. Think of it as your financial starter kit! so you see there is no need to reinvent the wheel with injective
  • interoperable: Injective speaks multiple blockchain languages. It’s natively interoperable with various networks, including Ethereum, Moonbeam, CosmosHub, and even Solana and Avalanche through cross-chain bridges. Network borders won’t limit your users.
  • CosmWasm: This smart contract platform makes building dApps on Injective a breeze. Already have code on another CosmWasm-friendly chain? Porting it over is simple, saving you time and effort.
  • Compatible tokens: Launch your tokens and unlock their potential across multiple networks. Injective’s cross-chain magic ensures your tokens aren’t confined to one corner of the crypto-verse.
  • Developer delight: Building on Injective feels smooth and intuitive. Flexible development environments powered by Rust and Golang give you the freedom and expressiveness you need to craft your DeFi masterpiece.

Moving Past DeFi and Into a Wider Financial Spectrum

Although DeFi is a major area of study, Injective has much bigger goals. Their objective is to serve the whole range of financial needs.

Here are some aspects Injective has dived into the financial world

Trading Dapps: On Injective using Dapps like Helix, Levena, and Dojo swap, you can trade futures, options, and other derivative contracts — features that are uncommon in the DeFi world — with Derivatives Demystified. And also trade trending tokens before they get listed with the Pre future option. For users, this means more sophisticated risk management techniques and fresh investment alternatives.

Now still trading Dapps, for many DEXs, poor liquidity is a significant barrier that results in sluggish transactions and expensive fees. However, Injective responds and solves this issue with a two-pronged strategy:

On-chain Order Book: Now we all know an Oderbook to be a list of all the buy and sell orders that are currently placed for a particular cryptocurrency but then Injective raised the bar higher by introducing an Onchain Oderbook to their ecosystem and an Onchain order book have the advantage of being immutable and transparent. This means that all trades are recorded on the blockchain and can be verified by anyone.

Liquidity Funds: Injective encourage community involvement in liquidity too as no chain is an island of its own. Injective draws additional capital and raises total liquidity by paying users for their liquidity, it’s about empowering both traders and liquidity providers while giving a massive boost to market liquidity. which will benefit all platform users. As a result, there is a positive feedback loop that increases user traffic.

Predictive market: Conjecture about how actual events will turn out, using gamification and maybe useful market insights. It would be thrilling to forecast the outcome of the upcoming election or the value of Bitcoin, don’t you think? With platforms like Forerunner, you can explore the speculative market

NFTs marketplace: Okay so it’s not just about trading Fungible tokens but then what about Non-Fungible tokens? NFT marketplaces like Dagora and Talis Protocol, Injective’s NFT marketplace, take advantage of the security and speed of the blockchain to provide a special platform for producers and collectors. Digital asset ownership and trade become easy and safe, opening up new opportunities for artwork and collectables.

Connecting the Dots: Community and Interoperability as Foundational Elements

Interoperability

Injective understands that no single blockchain is capable of doing everything. Its seamless interactions with other blockchains based on Cosmos, enabled by the Cosmos SDK, promote cooperation and interoperability. Furthermore, Solana and Ethereum smart contracts may be deployed by developers with little code modifications because of features like inSVM and inEVM, which encourage developer adoption and a diversified ecosystem.

Did you also know that the Solana Name Service has been integrated into Injective, enabling both .sol and .inj domains to be used? This integration breaks down barriers, opening up exciting new possibilities for seamless interaction and collaboration between these thriving ecosystems.

Community

Injective is aware that its success depends on having a vibrant community. Members of such programs as “Injective Ninja” can make contributions, receive incentives, and have their work acknowledged. By ensuring that the platform changes in response to user requirements and preferences, this community-driven strategy fosters a truly collaborative and user-centric environment.

You can check this article on how to become an Ambassador and also check this out to join the Injective BonusBlock

Before I leave here is a recent image of the Injective ecosystem and Dapps built on it

About Injective

Injective is a lightning-fast interoperable layer one blockchain optimized for building the premier Web3 finance applications. Injective provides developers with powerful plug-and-play modules for creating unmatched dApps.

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Wisdom Oguzie

GRAPHIC DESIGNER. BLUZELLE AMBASSADOR . OASIS EVANGELIST .