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Layer-2 DEX for decentralized derivatives
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Injective Foundation operates a layer-2 decentralized exchange (DEX) protocol that enables unlimited decentralized finance markets focused on derivatives, futures, perpetuals, and spot trading. It achieves this by running a cross-chain, layer-2 platform that conducts secure, instant, and borderless trades, with fees earned from transactions and staking services. The platform targets traders ranging from novices to professionals by offering a user-friendly interface plus advanced trading features. Compared to competitors, Injective distinguishes itself with its scalable, cross-chain L2 design that supports a wide range of markets directly on the blockchain, reducing reliance on centralized intermediaries. Its goal is to unlock the full potential of decentralized derivatives and DeFi trading by providing secure, high-throughput, and borderless access to diverse markets.
Company Size
51-200
Company Stage
Late Stage VC
Total Funding
$52.6M
Headquarters
New York City, New York
Founded
2018
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Cardano launches first IBC connection on testnet, expanding cross-chain capabilities. mungai nganga 4 hours ago (Last updated: 4 hours ago) 3 minutes read Cardano has successfully launched its first live Inter-Blockchain Communication (IBC) connection on testnet. The integration links Cardano with Injective, allowing developers to test native cross-chain transfers of ADA and INJ without relying on traditional blockchain bridges. The announcement marks the first time Cardano has established an on-chain IBC connection with another blockchain. While the integration remains in the testing phase, it represents a significant step toward expanding Cardano's presence beyond its own ecosystem and into the wider Cosmos network. What is IBC? Inter-Blockchain Communication (IBC) is an open protocol originally developed within the Cosmos ecosystem. Rather than depending on centralized or custodial bridges, IBC enables independent blockchains to communicate directly using cryptographic verification. For users, this means digital assets can eventually move between supported blockchains with fewer intermediaries, reducing security risks that have historically plagued cross-chain bridges. The new Cardano-Injective connection demonstrates that ADA can be transferred into the Injective ecosystem while INJ can move back to Cardano through a trust-minimized process on testnet. Why IBC is important for Cardano. Interoperability has become one of the blockchain industry's biggest priorities. Rather than existing as isolated ecosystems, modern blockchains are increasingly expected to interact with one another. Ethereum, Solana, Cosmos, and Avalanche have all invested heavily in cross-chain infrastructure, and Cardano is now taking a significant step in that direction. Once the technology reaches mainnet, developers could build decentralized applications that leverage liquidity and assets from multiple blockchain ecosystems instead of being limited to Cardano alone. Potential benefits include: * Native cross-chain asset transfers * Improved DeFi liquidity * Easier communication between decentralized applications * Reduced dependence on traditional blockchain bridges * Access to parts of the Cosmos ecosystem through IBC Still in the testing phase. Although the milestone is significant, the integration is not yet available on Cardano's mainnet. The current implementation is designed as a proof of concept, allowing developers to test transfers between Cardano Preprod and Injective Testnet before broader deployment. The testing period will help identify bugs, improve stability, and ensure secure interoperability before a production launch is considered. Part of Cardano's larger roadmap. The IBC milestone comes as Cardano continues to push forward with several major infrastructure upgrades. Recent ecosystem developments include work on the Leios scalability roadmap, governance improvements under the Voltaire era, and expanded support for decentralized finance applications. Together, these initiatives are designed to improve network performance while making Cardano more attractive to developers and institutional users. Interoperability is expected to play a key role in that strategy, particularly as blockchain ecosystems become increasingly interconnected. While there is no confirmed date for a mainnet rollout, Cardano's first live IBC connection demonstrates meaningful progress toward seamless cross-chain communication. If testing continues successfully, the integration could eventually allow ADA holders to interact more easily with applications across the Cosmos ecosystem. It will also bring additional liquidity and use cases to Cardano itself. For a network that has long prioritized security and methodical development over rapid deployment, the successful IBC testnet launch represents another important milestone in Cardano's long-term evolution. Administrator
Cardano and Injective activate first on-chain IBC rail for cross-chain liquidity. Cardano and Injective have launched a live Inter-Blockchain Communication (IBC) link on testnet, opening the first direct on-chain rail for bidirectional ADA and INJ transfers without relying on custodial bridges. Why IBC matters for cross-chain security. The choice of IBC over a conventional custodial bridge is deliberate. Insecure, custodial bridge implementations have historically been exploited when malicious actors gain control of a majority of validators and drain funds. IBC, by contrast, offers a trust-minimized environment where the security model rests on the guarantees of each chain's own light clients. In practical terms, there are no trusted third parties in IBC's architecture. IBC allows blockchains to transfer any kind of data encoded in bytes, including tokens, messages, and arbitrary application logic. It is secure, permissionless, and designed to connect sovereign blockchains into a single interoperable network. The protocol has already been adopted by more than 115 sovereign chains. Technically, connections are established through a handshaking process that requires both blockchains to run a light client of the counterparty chain. These light clients track consensus information and enable state verification. Once live, the blockchains can open a connection for authorised communication. Progress toward a broader interchain footprint for Cardano. The Injective testnet integration is part of a wider push by Cardano to extend its interoperability reach. Earlier this year, pull requests were submitted to Injective and Osmosis to integrate the Cardano light client, representing further progress toward IBC connectivity, a standard protocol that enables different blockchains to communicate and transfer data. By implementing IBC, projects in the Cardano ecosystem can bridge to Cosmos SDK chains and the broader interchain ecosystem, which comprises over 115 interconnected blockchains. For Injective, the integration aligns with its stated aim of consolidating cross-chain liquidity and settlement on a single finance-native layer. Injective's broader strategy for 2026 centres on bringing settlement, tradable assets, a regulated on-ramp, and an Ethereum-compatible build environment onto one network where they share state and liquidity. The live connection has been verified through transaction hashes on both the Injective testnet and the Cardano preprod explorer, providing on-chain confirmation of the channel's activity. A mainnet deployment timeline has not yet been announced by either team. (Advertisement)
Cardano and Injective unlock first Live IBC link, bringing ADA and INJ across two ecosystems. Key Takeaways: * Cardano and Injective have enabled its first live IBC connection on testnet. * The integration allows ADA and INJ to seamlessly navigate the two different ecosystems. * The launch is a significant step towards bigger interoperability efforts within Cardano. User Score After launching the first testnet Inter-Blockchain Communication (IBC) with Injective, Cardano has made a significant stride toward cross-chain interoperability. The milestone establishes direct communication between the two blockchain ecosystems and opens new possibilities of using both ADA and INJ. Cardano and Injective Activate Live IBC Testnet Injective announced that it has become the first blockchain to establish a live onchain rail to Cardano via IBC on testnet. The integration will make ADA accessible in the Injective ecosystem, and INJ will be available on Cardano's side once the testnet function is used properly. JUST IN |: Cardano is now officially connected to Injective, the first blockchain to have a live onchain rail to Cardano via testnet.$ADA is coming to Injective. $INJ is coming to @Cardano. Both will be available across the two ecosystems. pic.twitter.com/ECnexrfx8c It is running in testnet to help developers test cross-chain transfers and interactions between applications prior to any full-scale deployment. IBC addresses the issue of intermediaries in traditional token bridges by allowing blockchain networks to interact at the protocol level. Expanding Cross-Chain Utility About the new connection that's more than a transfer of assets. It lays technical foundations for decentralized applications to communicate with one another and interact between blocks over both networks. A New Path for ADA and INJ Now, developers are able to get started experimenting with cross-chain applications, blending Cardano's ecosystem with Injective's decentralized finance infrastructure. Built on top of the Cosmos SDK, Injective already natively has IBC support. Cardano's Extended UTXO architecture was different from the account-based design of other Cosmos chains and therefore required some engineering work to integrate with Cardano. Both ecosystems can benefit from new opportunities for liquidity, decentralized finance (DeFi) and future application development, thanks to this working interoperability layer. Testnet First, Mainnet Later While being a big technical accomplishment, the integration is not production-ready yet. That means ADA and INJ holders will not immediately gain production-ready cross-chain functionality. Developers are expected to use the testing period to evaluate network stability, compatibility, and security before any mainnet deployment is considered. No launch date for a mainnet release has been announced by either project. Cardano Pushes Its Interoperability Strategy The latest milestone reiterates Cardano's larger journey to go over and beyond the native ecosystem. It has taken 2 years to develop infrastructure that will connect Cardano to a greater part of the wider interchain ecosystem powered by IBC work. The partnership enriches Injective's access to one of the biggest proof-of-stake blockchain communities. It satisfies a significant emerging need for Cardano to become more interconnected with external blockchain networks. The live IBC connection could pave the way for a wider appetite towards asset transfers across different chains, decentralized applications and liquidity sharing between Cardano, Injective and further IBC supported blockchains when the technology moves to the mainnet.
INJ price stays quiet as Injective pushes major interoperability upgrade. Story Highlights * Injective activated IIP-677 after receiving 72% approval from governance voters. * IIP-678 remains under vote, with Abstain currently leading from 'Yes' votes. * Token Terminal reports approximately $3 million in protocol revenue over the past year. The INJ price has spent much of 2026 trapped between the $3 and $5 range, leading some to assume ecosystem development has slowed and it is the cause of muted price action. The governance record tells a different story. Injective has activated its IIP-677 interoperability mainnet upgrade (v1.20.3) while another core proposal, IIP-678, is already moving through the voting process. The latest upgrade follows earlier architectural expansions, including the Vulcan (IIP-650) upgrade and MultiVM rollouts, signaling that protocol development continues despite muted price action. Interoperability upgrade moves network forward. The approved IIP-677 proposal passed with 72% "Yes" votes after a four-day voting period. It commits the network to version v1.20.3, introducing targeted improvements aimed at strengthening Loading profile preview network operations, protocol reliability, market infrastructure, and cross-chain interoperability. The upgrade also seeks to integrate transfers from additional blockchains, enabling smoother asset movement into the Injective ecosystem while improving operational efficiency and network security. Earlier Vulcan enhancements had already introduced native canonical USDC settlement, reduced transaction fees, expanded real-world asset (RWA) markets, and deployed a next-generation oracle engine alongside refined exchange, insurance, and oracle modules supporting faster buyback and burn cycles. Another governance vote remains open. Development hasn't paused there. IIP-678 remains under active voting until July 31, focusing on recovering an expired IBC light client connected to the QUAD Core chain. The proposal replaces the expired client with an active substitute while maintaining the existing connection and channel. According to the current vote tally, Abstain holds 52.81%, while Yes accounts for 47.18%. Whether that balance changes before voting closes remains to be seen. Revenue keeps rising despite flat price. The INJ price may appear less interesting to many, but protocol activity paints another picture. Injective's governance page has progressed from approximately IIP-615 earlier this year to IIP-678, reflecting more than 60 governance proposals during 2026. Meanwhile, Token Terminal reports approximately $3.0 million in protocol revenue over the past 365 days, generated through its dual-chain architecture. Revenue combines burn auctions on Injective Cosmos and EIP-1559 base fee burns on Injective EVM, highlighting continued protocol activity even while the INJ price remains range-bound. Loading article prices
South Korea giants LG CNS and POSCO International deploy live trade data on Injective blockchain. Key takeaways. * POSCO and LG CNS are tokenizing live receivables across 80+ global branches on Injective. * Enterprise tokenization expands into global trade, building on $3T+ processed via JPMorgan's Kinexys. * POSCO plans to finalize its pilot framework in H2 2026 for a phased rollout across global operations. Overcoming legacy trade bottlenecks. POSCO International and LG CNS have launched a pilot to tokenize live trade receivables on the Injective blockchain, marking one of South Korea's most advanced real-world asset trials. The companies said the project uses actual commercial data from POSCO International's overseas subsidiaries rather than test inputs. One of South Korea's largest trading companies, POSCO International reported $22.2 billion in revenue and operates more than 80 overseas branches across steel, energy and battery materials. LG CNS, the IT arm of LG Group, is one of Korea's biggest technology firms and completed the country's largest IPO since 2022 when it listed in February 2025. Under the pilot, POSCO International's receivables are issued as permissioned tokens on the Injective blockchain. Authorized parties can hold and transfer the assets, and settlement occurs onchain under controls managed by POSCO International's finance teams. According to a media statement, receivables today are tracked separately by subsidiaries, banks and counterparties, slowing reconciliation and delaying access to cash. By placing the receivable on a shared ledger, the record becomes a single object, and compliance rules travel with the token to ensure consistent checks across jurisdictions. Injective was chosen over general-purpose blockchains because its real-world asset module embeds compliance at the protocol level. Identity verification and rules governing who can hold or move an asset are enforced by the chain itself. The network finalizes transactions instantly, produces blocks in under a second and uses an onchain order book designed to prevent front-running - features the companies said are necessary when tokenizing claims representing real money owed. "This PoC is significant in that it validated the applicability of AI and blockchain technology based on real trade data and processes," a POSCO International spokesperson said. "We plan to finalize a pilot operation framework in the second half of this year, centered on areas where operational efficiency gains were confirmed, and will apply them to actual business operations in a phased manner." LG CNS has supplied digital currency infrastructure to more than 220 local governments, contributed to the Bank of Korea's CBDC pilot and operates security token platforms for KOSCOM and Mirae Asset Securities. In March 2026, it partnered with Palantir to deploy enterprise AI across LG Group. Enterprise tokenization has accelerated globally this year. JPMorgan's Kinexys platform has processed more than $3 trillion in cumulative transactions, while Citi has tested private-market tokenization on a public chain with Wellington Management and Wisdomtree. Korea remains one of the most active markets, and POSCO International and LG CNS are extending the model to receivables that underpin global trade. The companies said their goal is a unified framework for trade across all subsidiaries, with settlement faster than the current multi-day cycle and compliance that remains attached to the asset across borders. "Injective was built for regulated finance to run onchain, and a pilot of this scale is exactly what it was designed to carry," Injective co-founder Eric Chem said. "When South Korea's largest trading company and LG CNS choose Injective for live trade receivables, it demonstrates Injective's ability to move real capital markets onchain." Why tokenized assets are still in their early days - what could drive broader adoption. As financial institutions expand tokenized real-world asset (RWA) offerings, Franklin Templeton's Chetan Karkhanis discusses how improving interoperability, regulatory clarity, distribution,...