Injective Token (INJ) API and Price Oracle

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Injective Token

For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
Blockchain network where the asset is deployed
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
Volume 24h
Trades 24h
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Token information

What is Injective Token (INJ)?

Injective Token (INJ) is the native cryptocurrency of the Injective Protocol. It was created to power a decentralized exchange platform that allows users to trade any asset, including stocks, futures, and cryptocurrencies, directly on the Ethereum blockchain. Injective Protocol was founded by Eric Chen in 2018. The token enables holders to participate in network governance and earn rewards by staking their INJ tokens. The name "Injective" denotes the protocol's aim to inject new levels of decentralization and democratization into the trading ecosystem.

How does Injective Token work?

Injective Token (INJ) is a cryptocurrency that operates on the Injective Protocol, a decentralized exchange (DEX) built on the Ethereum blockchain. Powered by a layer 2 Cosmos zone, Injective Protocol aims to provide a highly performant and decentralized trading experience.

The Injective Protocol leverages a variety of technologies to enable its functionality. Firstly, it utilizes Ethereum as its underlying blockchain, which ensures security and immutability. However, to overcome the scalability limitations of Ethereum, Injective Protocol incorporates layer 2 technology by utilizing the Cosmos SDK. This enables faster transaction confirmations and reduces fees.

At its core, Injective Protocol functions as a decentralized exchange that allows users to trade various assets without intermediaries. It achieves this by utilizing a unique order book architecture. Unlike traditional order books on centralized exchanges, Injective Protocol employs a fully decentralized order book structure. This means that each user, or node, maintains their own copy of the order book, ensuring transparency and eliminating trust issues.

Injective also implements a proof-of-stake (PoS) consensus mechanism for block generation and transaction validation. With PoS, token holders can participate in block validation by staking their INJ tokens. This incentivizes network security and rewards participants accordingly.

In summary, Injective Token operates on the Injective Protocol, a decentralized exchange built on the Ethereum blockchain. It utilizes layer 2 technology to overcome scalability challenges and offers a unique decentralized order book architecture. By leveraging the Cosmos SDK and implementing a PoS consensus mechanism, Injective provides a fast, secure, and transparent trading experience for users.

What are the benefits of Injective Token?

Injective Token offers several benefits compared to its direct competitors, making it a promising choice for users.

One of the key advantages of Injective Token is its focus on decentralized exchange (DEX) functionality. Unlike many other DEX platforms, Injective Protocol provides users with a truly decentralized trading experience. This means that users have full control over their funds and trades, reducing the risk of hacks and manipulation.

Another benefit is the high throughput and scalability of the Injective Protocol. This allows for fast and efficient trading, even during periods of high demand. Users can execute trades without experiencing delays or network congestion.

Additionally, Injective Token offers cross-chain capabilities, allowing users to access a wide range of assets from different blockchains. This provides greater flexibility and opportunities for users to diversify their portfolios.

Compared to its direct competitors, such as Uniswap and SushiSwap, Injective Token stands out with its focus on decentralization and scalability. While Uniswap and SushiSwap are popular DEX platforms, they still rely on the Ethereum network, which can be slow and expensive during peak times. Injective Token, on the other hand, provides a seamless trading experience with its own scalable blockchain infrastructure.

Overall, Injective Token offers users a decentralized, fast, and scalable trading experience, making it a strong contender in the competitive DEX market.

What is Injective Token used for?

The Injective Token (INJ) is a utility token used on the Injective Protocol, which is a decentralized exchange (DEX) platform built on the Ethereum network. INJ serves multiple purposes within the ecosystem.

Firstly, INJ is used for governance on the platform. Token holders can use their INJ to vote on various proposals, such as changes to protocol parameters or the addition of new features. This allows the community to have a say in the platform's development and helps maintain a decentralized decision-making process.

Secondly, INJ is used to provide liquidity on the decentralized exchange. Users can stake their INJ tokens to become market makers, earning fees from trades that occur on the platform. This helps ensure a liquid marketplace and provides incentives for token holders to participate actively in the ecosystem.

Additionally, INJ can also be used as collateral for trading on the Injective Protocol. Traders can lock up INJ tokens to initiate leveraged positions, allowing them to amplify potential returns or losses.

One specific use case of INJ is in the creation of decentralized derivatives. The Injective Protocol allows users to create and trade a wide range of financial products, including derivatives contracts that are collateralized by INJ. These derivatives can represent various underlying assets, such as cryptocurrencies, commodities, or indices. By using INJ as collateral, traders can access decentralized derivative markets and potentially hedge their positions or speculate on price movements.

In summary, the Injective Token (INJ) has multiple uses within the Injective Protocol ecosystem, including governance, liquidity provision, and collateral for trading and derivatives.

What is DIA's Injective Token API?

DIA's Injective Token API is a powerful tool that provides real-time price feeds for crypto assets. These price feeds are constructed by aggregating raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges. This ensures that the price data provided by DIA is accurate and reliable.

While DIA does offer free API endpoints for developers to test, the real value lies in their custom feeds. These custom feeds can be tailored according to specific requirements, such as selecting specific data sources, methodologies, and update mechanisms. By offering custom configurations, DIA ensures that users have access to highly customised and precise data.

The use cases for DIA's API are diverse and extensive. In the DeFi space, the price information from DIA's API can be utilized for derivatives, options and futures, lending and borrowing markets, collateralised stablecoins, synthetic asset issuance, money markets, and more. Additionally, in the NFTfi space, the API can enable peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalisation, and other innovative applications.

APIs, or Application Programming Interfaces, are interfaces that allow different software applications to communicate with each other. In the case of DIA's API, it enables developers to access and integrate real-time price data into their applications, providing valuable information for decision-making and the creation of new products and services.

In summary, DIA's Injective Token API offers a range of price feeds for crypto assets, with both free endpoints for testing and highly customizable feeds tailored to specific user requirements. The API's versatility makes it a valuable resource for developers and can be utilized in various DeFi and NFTfi applications. To request a custom feed, users can reach out to DIA via Discord or Telegram.

What is DIA's Injective Token price oracle?

DIA's Injective Token price oracle is a smart contract that provides real-time price feeds for cryptocurrencies. DIA stands out by offering integration with over 35 layer 1 and layer 2 networks, allowing the deployment of price oracles across multiple blockchains. These price feeds are constructed using raw data obtained from more than 85 on-chain and off-chain cryptocurrency and NFT exchanges, resulting in a comprehensive and accurate data source.

While DIA offers demo oracles, these are strictly for testing purposes and cannot be integrated into production applications. However, DIA also provides the option for users to request custom configuration for their price oracle data feeds. With custom price oracles, users can tailor various aspects such as sources, methodologies, and update mechanisms to meet their specific needs. To request a custom feed, users can reach out to DIA via Discord or Telegram.

DIA's custom oracles offer significant value to users as they can be tailored to fit specific use cases and requirements. These oracles can be utilized in a range of applications across the blockchain ecosystem, including derivatives, options and futures markets, lending and borrowing platforms, collateralized stablecoins, synthetic asset issuance, money markets, and more in the DeFi space. Additionally, in the NFTfi sector, DIA's oracles can be used for peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, fractionalization, and more.

In the context of blockchain technology, a blockchain oracle is an external provider that supplies verified data to smart contracts on the blockchain. It allows the blockchain to access and benefit from real-world data, expanding the functionality and use cases of decentralized applications.

For developers and users seeking accurate and customizable price data feeds for their blockchain applications, DIA's custom oracles offer a reliable and flexible solution.

Why use DIA's INJ API & price oracle?

DIA's INJ API and INJ Price Oracle offer a range of benefits for users in the blockchain ecosystem. With DIA's technology, users can access accurate and reliable price data for cryptocurrencies and NFTs. One major advantage of using DIA's API or Price Oracle is the high level of customization available. These tools can be tailored to suit the specific needs of decentralized applications, including configuration settings for data sources, data cleaning filters, pricing methodologies, and update mechanisms. This level of customization ensures that the data and oracle remain robust and resilient to market conditions, providing global market and specific individual or cross-chain market prices.

Transparency is another key benefit of using DIA's API and Oracle feeds. DIA's technology provides full and granular transparency across the entire data journey. Users can track and monitor the oracle and API feeds using various tracking and monitoring tools provided by DIA.

Overall, DIA's INJ API and INJ Price Oracle offer accurate and reliable price data with a high level of customization and transparency. These tools provide a tailored solution for users' specific needs, ensuring robustness and resilience in dynamic market conditions.

Why use DIA data feeds and oracles?

DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.