On August 27, there was an AMA session held in the Injective Sri Lanka Telegram chat . Injective Community Manager , “Seranium" participated as the guest in this AMA session. There were 2 segments in the AMA and here is the recap
Segment 1 ( Host asked few questions in this segment )
Q1 : How did Injective get started, and what problem does Injective solve?
A1: Injective started in 2019 as an L2 project and a decentralized exchange which quickly evolved to a full fledged blockchain as the ambitions and the ideas of the team grew. Being in an extraordinary place Injective has taken an unique position as a sector specific blockchain tailored for finance and trading. Now Injective is a full fledged blockchain with smart contracts capabilities and an unique order book module that is on-chain.
One of the main issues that Injective solves is trading spot, perpetuals and binary market on a blockchain in a fully decentralized manner while also allowing anyone to come and create his own exchange dapp, benefit from the fees and tailor it to their specific needs.
The other problem that Injective solves is that anyone can come and create their own unique trading instruments and unique trading pairs on-chain. All trading pairs are recorded on-chain allowing for anyone to use them if they want and implement on their own exchange dapp
Exchange dapps are only a part of the dapps that we will see in the future that will offer unique instruments and more opportunities for people to benefit.
Q2 : Who are some ecosystem projects launching and using Injective’s infrastructure?
A2 : Dapps like Mito which is build from injective labs are going to launch on injective. Here is a hint Mito will come up with something that will further excite everybody in the injective community, but I'll leave this as a surprise.
Black Panther is an innovative asset management protocol that is designed to help you achieve superior returns on your digital assets. We build intelligent vaults that help you to profit from yield opportunities with just a click of a button — no coding is required. We use data-driven models and sophisticated strategies to optimize yield. Unlike the typical yield protocols that perform auto-compounding, our protocol offers active trading strategies such as grid trading and trend following, which provide a new source of alpha for our users.?
NFT marketplace like Talis provided the infrastructure for people to create their own NFT Collections and ALL hype and ALL collections were driven by the community itself. We are seeing new collections popping up every 2 weeks and we have seen few like Aliens on Injective and Ninja NFT collections gathering quite the hype and interest from the community. I am pretty sure that there is much more to come.
You can see more dapps here — https://explorer.injective.network/featured-dapps/
There are many more coming. which I cannot say as of now, but we are all excited for the future opportunities. The one I am personally excited to see is Frontrunner . Frontrunner is a sports prediction market with no limits and no house edge. Buy and sell shares of teams and athletes with crypto.Take a look here — https://explorer.injective.network/featured-dapps/?dapp=Frontrunner
My Top dapps are: Mito and Frontrunner for now.
Q3 : Please enlighten our community about Injective Ambassador program & How our community can join it ?
The ambassador program is here to stay for the long term. Each month we are introducing new changes to adjust the program so its more rewarding and fair for ALL of the participants. In the near future we have a lot more coming and behind the scenes we are working on improving the program bringing it a much higher level making it the most robust, complete and rewarding ambassador program.
For anyone curious on how to get involved with the program go take a read here — https://injective.xyz/ambassador_overview
In the coming weeks and months, we are going to ramp up the program so more load can be handled and more to be achieved on a higher level!
Please make sure to join our Discord server in order to be able to join the program in the future —
https://discord.com/invite/injective
Make sure to read the doc and when you join the server take it gradually. Me and the Knights will help you out, guiding you with the steps!
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Segment 2 ( Community members questions )
Q1 : Security is so important with all of us nowadays. How does Injective ensure that the assets of your users are safe and secure? Do you have insurance for users?
A1 : Injective is a blockchain which is decentralized, your funds are always in your control with no other 3rd party entity touching them. You can always move them and bridge your funds to other chains if you wanted.
There is no insurance on blockchain so if you do any mistakes, you are responsible on your own! Keep that in mind when you use any blockchain.
Q2 : As the Community Manager, you’re at the forefront of user interactions. With the introduction of ‘True Ultrasound Money’ through INJ 2.0, how do you anticipate this evolution resonating with the community? Could you share examples of how this innovative upgrade aligns with Injective’s commitment to fostering collaboration and empowerment among its users?
A2 : With INJ 2.0 ALL dapps can decide to contribute to the burning auction which further provides more value for ALL of the community by burning more INJ potentially. The potential is big and with this incentive for Dapps to contribute to the whole community and provide value we can see some creative stuff. Dapps will benefit too by attracting attention from contributing to the burning auction!
Q3: Can you share some real-world use cases where your project’s technology has demonstrated its value and utility?
A3 : Real word use-case: well, you can transfer value over the internet in a very fast and efficient manner. You can come and trade in a fully decentralized manner and always be in control of your own coins. I answered part of this question in the first question from the AMA.
We used to have to go the New York Stock Exchange in order to trade. After that we needed to go to a website provided by some unknown entity and provide them with our funds in order to trade. Now we don't need to give our funds to anyone, as now thanks to Injective and its unique design + order book module, you can just come and trade without providing funds to unknown entity. Injective is the next step in trading.
Q4 : What infrastructures are exclusive on Injective for developers? What are the advantages of building on Injective? How does injective support developers?
A4 : Injective has an unique venture group endevour with partners like Pantera, Jump, Kucoin venture, Delphi digital that prepared some big numbers to support teams that are building on top of injective blockchain. You can see details here — https://injective.com/venturegroup
Any team can apply, and his application will be evaluated by selected partners to get funding for his dApp.
Q5: There is many blockchain in the crypto space, so why do you choose cosmos blockchain? Do you have any plan for adding more blockchains in the near future?
A5 : Injective blockchain is Tendermint based. Tendermint was chosen as the core because and most importantly, it was battle tested and its well known that it works without problems. And we have many project in the cosmos ecosystem that are IBC compatible thus we can have bridges to all of them and as we can see now we have many IBC bridges to many cosmos based blockchains.
But Injective is not limited only to the cosmos ecosystem. Injective labs team has build a native ETH bridge solution so we can bridge any ERC-20 asset to injective from Ethereum and vice versa.
We have wormhole which opens many other blockchains and we have seen bridges to Solana, Arbitrum and Matic.
I am pretty sure that there is more to come! Giving the people the option to choose is important and we are going to improve on all fronts gradually.
There are unique challenges on a technical level but the dev team is top notch and hard working. In the future we are going to continue to improve on all fronts with while continuing to give the people a choice on how to use the injective blockchain. More dapps, more trading instruments, more security, better UI experience on native dapps and more!
We have an exciting future ahead for Injective blockchain. Please follow our socials and expect to see a lot in the coming months! Let's go NINJAS.
Telegram: https://https://t.me/joininjective
Discord: https://discord.com/invite/injective
Twitter: https://twitter.com/Injective_
Website: https://injective.com/
Blog: https://blog.injective.com/
