Key Points
- Injective (INJ) recorded a 6% surge in price today.
- On June 12, Injective announced the integration of PayPal USD.
Injective (INJ) recorded a price surge of 6% today. At the moment of writing this article, INJ has a total market cap of about $2.8 billion.
On June 12, the team at Injective announced via their X account that they are integrating PYUSD, becoming one of the first-ever Layer-1s to support the stablecoin released by PayPal and Paxos.
The team behind the project also noted that PYUSD can be onboarded from Ethereum and Solana onto Injective. Also, dApps on Injective can use PYUSD for lightning-fast payments, trading, DeFi, and more.
Injective today is integrating PYUSD, becoming one of the first ever L1s to support the stablecoin released by PayPal & Paxos.
PYUSD can be onboarded from Ethereum & Solana onto Injective. dApps on Injective can utilize $PYUSD for lightning fast payments, trading, DeFi and more. pic.twitter.com/dilhamIQhX
— Injective 🥷 (@injective) June 12, 2024
Also, today Injective announced via another post on X that they are going global. The team revealed the first-ever Injective Builder House in Brussels.
They asked followers to join them for a groundbreaking event that brings together core injective devs, partners, and more for various workshops and insightful panels with important names in the industry.
On June 6, the project announced the release of the first-ever comprehensive paper on the Injective Token, INJ.
The name of the paper is “INJ: A Programmable Token Economy for Deflationary Acceleration”.
They noted that the paper delves into the token’s core utilities and mechanisms powering a programmable token economy for deflationary acceleration.
What is Injective (INJ)?
The Injective blockchain is built for finance, and it’s an open interoperable L1 that powers next-gen DeFi apps including the following: decentralized spot and derivatives exchanges, prediction markets, lending protocols, and more.
INJ is the native crypto of the project and it aims to revolutionize tokenomics with dynamic supply mechanisms and an innovative strategic burn system, according to the team at Injective.
The project reached an important milestone of 6M INJ burn.
