We are excited to announce that Injective, a high-performance L1 built for finance, is now integrated with Klaytn. Effective today, native assets from both Klaytn and Injective will be transferable and usable across DApps on either network—starting with INJ on Klayswap and KLAY on Astroport—heralding a new era of interoperability between the two blockchains.
Injective is a blockchain built specifically for finance, with over 500,000 community members worldwide. As one of the leading projects in crypto today, Injective has an ecosystem that boasts over 100+ projects. Injective is also uniquely fast, with sub-second block times.
This integration is a landmark moment as KLAY is now available for the first time on the inter-blockchain communication (IBC) network via Injective, opening up a whole new world of possibilities. With this new connection, KLAY and INJ can now be transferred, creating more use cases and liquidity for both Klaytn and Injective’s respective native tokens.
INJ is the native utility token of Injective. It is used for governance, token burn auctions, and staking on the PoS network.
INJ’s tokenomics recently went through an upgrade with the new “INJ Burn 2.0”. This upgrade enables protocols operating on Injective to partake in a weekly token burn program, wherein a substantial portion – 60% or more – of the transaction fees accrued by these protocols is allocated for burning.
This can lead to a far more robust on-chain economy powered by INJ, as burn auctions can now capture value from all dApps across the rapidly growing Injective ecosystem.
Our collaboration and integration serves as a prime example of how blockchain networks can work together to unlock new opportunities for DApp builders on both ecosystems and accelerate the adoption of decentralized technologies.