Injective Protocol Token use case introduction
Introduction the Injective Token: Pioneering a New Decentralized Economy
Source: Injective Protocol
Exchanges are now acting as gatekeepers to the cryptocurrency industry, exerting undue influence and collecting "rents" from users through fees.
In a centralised or decentralised trading platform, most of the transaction fees are either captured by exchanges or provided to liquidity providers exposed to volatile losses. In both cases, most of the value gained by the platform does not belong to a single user/scrip holder.
Injective aims to transform the platform into a fully decentralised community owned and controlled by the INJ owner community rather than a single centralised organisation. This community-driven concept underpins the entire agreement, with the proceeds coming entirely from the users and Injective token holders.
Here are some new ways to become participants in the Injective ecosystem!
Create and trade new derivatives markets
The simplest way to participate is by Injective decentralizing a derivatives trading platform. The platform's protocol is fully open and unlimited, allowing you to trade freely and even create new derivative markets on the Injective agreement. Injective early users can earn INJ through a trade with the opportunity to earn additional INJ awards.
Establish platform nodes
One way to participate in the Injective ecosystem is to set up nodes to provide liquidity to the protocol. By hosting a node, the user gets a 40% transaction fee for the order.
Trading platform nodes can be rewarded by providing customized improved interfaces for under-served regions or by providing specialized apis for specific groups of traders. Users with some influence can also use it to their advantage by earning online referral rewards or offering discounts on online fees to new users.
Transaction cost auction
Every month, we collect the remaining 60% of the transaction fees in the platform and auction them to the public through repo - auction. INJ token holders can use the INJ bid to purchase the total transaction fee. The INJ proceeds from the auction were then destroyed, reducing the supply of tokens.
Stake INJ tokens on the chain
As an INJ token holder, the user can delegate the token to an existing verifier, or you can become a verifier yourself. By doing so, you will be rewarded for protecting the Injective network security and will be able to participate in the governance of the Injective agreement.
Participatory governance
INJ tokens can be used to manage key Injective elements, including futures agreements (such as new projects coming online), trading parameters, and protocol upgrades.
The development of the Injective Chain
Injective Chain hosts a fully EVM-compatible execution environment, allowing a user to create an arbitrary decentralized program using an intelligent contract written in Soldesert. The possibilities for creating new decentralized applications are infinite, and developers can create new DeFi applications using the Injective agreement's innovative token perpetuity contract as a composable module.
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