Injective Protocol is a fully decentralised cross-chain derivatives exchange protocol that allows users to create any financial market on the low fee and secure protocol. It has been built on the principle that you can have all benefits of decentralisation without limits, just trade your assets in a fast, secure way.
The protocol aims to be an inclusive financial system that everyone can access by providing the unrestricted ability to express diverse views in the decentralised financial markets. Anyone can open a market of their own, or trade on an existing market.
The Injective Protocol token (INJ) is an asset used for governance, liquidity mining, staking and exchange value capture.
Injective Labs was founded in 2014 by Eric Chen and CTO Albert Chon, with the objective to bring financial inclusion and transparency to all people, regardless of social status and financial standing. Chen previously worked as a cryptographic researcher and Chon was a software development engineer at Amazon before Injective Labs was founded.
In 2015, Injective Labs created an alpha version of their platform called Beenz which used digital currencies for micro-payments. After realizing the potential of blockchain technology, they pivoted to a blockchain-based financial protocol in early 2017. The rest is history.
Injective protocol is unique as it enables anyone the access to financial services, regardless of their credit or employment history. The protocol is built on top of the Ethereum blockchain which offers fast transaction times and instant finality.
Injective uses a distributed open ledger to track records of debts and all associated payments in a decentralised fashion. This creates an immutable record that cannot be altered by anyone.
Users can create unique smart contracts which represents financial transactions between two parties. These contracts can be used to help manage their personal balance sheet or even serve as an alternative to access bank credit.
All this is done without the need for a third party, such as a bank or a public notary making Injective Protocol a decentralised platform.