Injective’s inaugural summit showcases MultiVM and AI agent ecosystem developments
The Injective Overview - November 18, 2024
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Injective By the Numbers
$INJ price: $24.92 (+47.54%)
Token market cap: $2.47B (+49.7%)
Total token holders: 49.1K (+1.03%)
Total $INJ staked: 59.29M (-2.68%)
Staking APR: 10.85%
Total validators: 167 (+0%)
Injective daily trading volume: $29.68M (-60.1%)
The percentages and metrics are calculated from its change over a 14-day time frame, unless noted otherwise.
Injecting in the biggest developments
Highlighting some of the biggest announcements from Injective.
🥷What happened: Injective held its first summit in Bangkok, Thailand, last week. The event had almost 1,000 attendees, over 20,000 viewers on live stream and more than 30 speakers and panels.
🥷Why it matters: The blockchain’s inaugural event brought in top projects from its ecosystem including team members from Republic Crypto, Google Cloud, and Binance, to name a few. There were also a number of in-depth discussions and panel sessions with notable names in the web3 sector such as Agora co-founder and CEO Nick van Eck, Offchain Labs co-founder Ed Felten, Monad co-founder Keone Hon, and much more. Watch those conversations here.
In case you missed it, there were a number of ecosystem players presenting their latest developments. Most notably, Injective Labs announced their MultiVM initiative, which plans to make its layer-1 blockchain able to offer multiple virtual machines (VM) to all developers.
Since each VM will be fully integrated onto Injective, users can leverage different modules such as order books to ensure every transaction across any VM environment will be recorded on a single network. In turn, this can foster a more integrated ecosystem where transactions, liquidity, and users interact more easily. Injective Labs also stated they plan to release private devnet later this year, with testnet and mainnet slated to launch in 2025.
Injective Labs also demoed iAgent, the network’s first AI agent creator. The SDK utilizes ChatGPT features to perform onchain transactions such as viewing the balance of a wallet, sending payments between addresses, or even trading tokens for you. A tool like this aims to make it easier for users to perform onchain transactions by incorporating the advantages of AI technology. In turn, this can increase activity, engagement, and adoption for the Injective ecosystem by users and developers alike.
🥷 The bigger picture: The sheer amount of attendees and panels speaks to the volume of activity happening within Injective’s core ecosystem, and also among partners building in its network.
The Injective Labs developments aim to improve the network's speed and capabilities while introducing new optionality for developers in its network.
Expanding its financial ecosystem
Updates on the latest network of dApps, validators, builders and more helping Injective expand its financial use cases.
Injective celebrated its 3-year mainnet anniversary - check out this blog recapping major developments across its tenure
Users can leverage AI and autonomous agent capabilities within its DeFi ecosystem via collaboration with Fetch
Coinbase released Coinbase 50, an index of the top 50 coins in the crypto landscape, including Injective ($INJ)
LeapWallet deployed a swap tool for tokens on Injective called SwapFast
Daily transactions hit 5.1M on Nov. 10, a 30-day high for the Injective blockchain (shown below)
Source: Artemis
Explore Injective’s institutional overview here
Exploring the meme landscape
The Ninjas, an NFT collection on Injective, hit 1.18K INJ in total volume over a 7-day period, according to data on Talis
Check out this thread by X user pitch_marie01 about the memecoin landscape on Injective
Speaking of memes… $NINJA is the largest memecoin on Injective with a market cap of $21.1M, second largest token in the ecosystem behind $INJ
$QUNT saw a 60.35% increase week-over-week, reaching $16.5M market cap
Source: Coinhall
From the Injective ninjas 🥷
Highlighting the builders, communities and ecosystem players within the Injective blockchain.
Check out this thread by X user deaterse333 to learn more about Paradyze, a predictions market on Injective
X user MahmoudH0110 created a montage video that showcased different events during Injective Summit
Talis hosted a spaces on X about the platform’s expansion to XION
For more Injective updates, check out its blog here.
Dive deeper into Injective
Want to get involved in the ecosystem? Developers can check out documentation, GitHub and more here. Find the latest job postings here or get involved at an event below.
Injective is hosting art competition in honor of the mainnet’s 3-year anniversary - see how participate here
DoraHacks posted a campaign for Injective developers to build a liquidity bearing contract - details here
Want some more Injective Summit content? Listen to their X spaces that was hosted live during the event
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This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.