The Volan upgrade brings significant alterations to the on-chain inflation parameters of INJ, aiming for a long-term goal of enhancing the deflationary nature of INJ.
Injective, a Layer 1 blockchain built on the Cosmos network, has rolled out a significant mainnet upgrade named Volan. This upgrade is anchored in the integration of a software module dedicated to real-world assets (RWAs), marking a strategic move to expand the platform’s capabilities.
The primary goal of the Volan upgrade is to provide both institutional and individual users with access to a diverse range of structured products. Among the planned offerings include tokenized fiat currency pairs, treasury bills, and exclusive credit products, aiming to tap into the growing market for tokenized securities, which has surpassed $500 million in size over the last year, according to Dune data.
One key feature of the Volan upgrade is the enhanced integration of the inter-blockchain communication (IBC) protocol within the Injective ecosystem. This advancement allows for more seamless interactions between Injective and other chains within the broader Cosmos ecosystem.
By leveraging IBC, Injective aims to facilitate complex cross-chain transactions, enabling advanced order routing and swaps. For instance, users can initiate cross-chain swaps through decentralized applications on other Cosmos blockchains, such as Celestia or Osmosis, and seamlessly execute these transactions by routing them through Injective’s order book module.
Improving Connectivity with Other Blockchains
Injective, a blockchain platform specializing in decentralized finance (DeFi) applications, has announced the launch of its Volan Mainnet upgrade. Eric Chen, CEO of Injective Labs, emphasized that this upgrade will provide developers with advanced native building blocks for next-generation financial applications while enhancing connectivity with other blockchains and applications.
As an interoperable blockchain, Injective focuses on decentralized finance use cases, utilizing its native token, INJ, for governance and transaction fees.
The Volan upgrade introduces notable changes to INJ’s on-chain inflation parameters, with a long-term objective of making INJ increasingly deflationary. Additionally, the upgrade incorporates a new oracle system, seamlessly integrating off-chain price feeds directly into the blockchain.
Injective, backed by prominent investors such as Binance, Pantera Capital, and Mark Cuban, closed a successful $40 million funding round led by Jump Crypto in August 2022. The recent upgrade aligns with Injective’s commitment to continuous innovation in the rapidly evolving DeFi landscape.