January 12, 2024

Injective Unveils Volan Upgrade, Prioritizing Real-World Assets and Enhanced Cosmos Chain Connectivity

Injective, the Cosmos-based blockchain, has launched a significant upgrade named Volan, focusing on bolstering support for real-world assets (RWAs) and strengthening interactions with other Cosmos chains.

Injective, a Layer 1 blockchain built on the Cosmos network, has introduced a notable mainnet upgrade known as Volan. At the core of this upgrade lies the integration of a software module geared towards real-world assets (RWAs).

The primary goal is to empower both institutional and individual users with access to a diverse array of structured products. Anticipated offerings within the realm of real-world assets encompass tokenized fiat currency pairs, treasury bills, and exclusive credit products.

Although the market for RWAs is still in its early stages, it is experiencing rapid growth. Tokenized securities, in particular, have witnessed a substantial surge in value over the past year, with a market size estimated at over $500 million, according to data from Dune. Injective aims to capitalize on this trend with the Volan upgrade.

Another significant aspect of the Volan upgrade involves the expansion of the inter-blockchain communication (IBC) protocol on the Injective platform, enabling more seamless interaction between Injective and other chains within the broader Cosmos ecosystem.

Through the integration of IBC, the network is poised to facilitate intricate cross-chain transactions, including advanced order routing and swaps. For instance, users can initiate a cross-chain swap via a decentralized application on another Cosmos blockchain, such as Celestia or Osmosis, and route it through Injective's order book module for execution.

Eric Chen, CEO of Injective Labs, commented:

"This Injective Volan Mainnet upgrade is focused on providing developers with unmatched native building blocks for next-gen finance applications while simultaneously improving connectivity to other blockchains and applications."

Injective, an interoperable blockchain specializing in decentralized finance (DeFi) use cases, utilizes its native token, INJ, for governance and transaction fees.

With the Volan upgrade, Injective has implemented changes to the token's on-chain inflation parameters, aiming to make INJ increasingly deflationary over time. Additionally, the upgrade introduces a new oracle, integrating off-chain price feeds directly into the blockchain.

In August 2022, Injective successfully concluded a $40 million funding round led by Jump Crypto. The project enjoys support from prominent backers, including Binance, Pantera Capital, and Mark Cuban.

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