BSC News

Injective Labs Updates Mainnet for Protocol Overhaul

Passage of the IIP-93 will enact influential changes that should change the overall experience within Injective.

Injective Upgrades Mainnet

The community at Injective Labs has passed Injective Improvement Proposal #93 (IIP-93), enacting sweeping changes to the protocol that will upgrade the mainnet and see an overall improved user experience.

Responding to several inefficiencies and user wants, IIP-93, the proposal brings several front-end and backend updates to the whole ecosystem. The Injective team published a Medium blog on December 30 detailing incoming changes based on the proposal.

“Overall the upgrade leads to improved token economics, revamped reward mechanics, new avenues to increase the INJ burn, and a number of backend optimizations that will make the Injective Chain more powerful than ever before,” the blog begins.
Source

The proposal will initiate the following changes to Injective:

  • Added staking benefits to the Trade & Earn
  • Improved price oracles to filter extreme values
  • Increased INJ burns through auction modules
  • New INJ Reward metrics
  • Advanced Batch Order Features
  • User transaction permission customizations

The major updates on the protocol seek long-term ecosystem growth and hope to combat the impact of larger liquidity movers on the protocol. The Injective community has made this collective decision for the good of the entire protocol and shows that the community can play a pivotal role in the evolution of the protocol. 


What is Injective?

Injective is the first cross-chain protocol built for decentralized finance applications. On the Injective exchange, anyone can access, create, and trade unlimited DeFi markets such as futures and perpetuals. Developers can also build cross-chain Ethereum-compatible projects that are lightning-fast and achieve instant transaction finality. Injective is backed by prominent stakeholders, including Binance, Pantera Capital, and Mark Cuban.

Where to find Injective:

Website | Telegram | Discord | Blog | Twitter | Youtube | LinkedIn | Reddit | 

Related News