Injective Unveils Volan Chain Upgrade for Enhanced Web3 Finance Capabilities Jan 14, 2024 Jan 14, 2024 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsJanuary 14, 2024 by Kelly Cromley

Injective Unveils Volan Chain Upgrade for Enhanced Web3 Finance Capabilities

Injective, a leading blockchain platform for Web3 finance applications, recently disclosed the Volan chain upgrade, marking a significant milestone as its “largest” mainnet upgrade to date.

Revolutionizing Asset Management with RWA Module

Within this upgrade, Injective has introduced a groundbreaking Real World Asset (RWA) Module, representing a novel approach to “creating and managing permissioned assets with extensive customization options.”

The RWA Module allows both institutions and individual users to effortlessly “launch and access a variety of structured products and RWAs.” Notable offerings include “tokenized fiat pairs, treasury bills, and exclusive credit products, accessible through compliant gateways.”

 

Tailored Token Creation and Compliance

Moreover, the platform facilitates “the creation of tokens with tailored features, including specific allow lists that control asset access.” Injective has seamlessly integrated the permissioning layer into its native chain, ensuring capital efficiency for users while providing “compliant access points for financial institutions.”

Enhanced Cross-Chain Transactions with IBC Protocol

As part of the upgrade, Injective introduces an enhanced version of the Inter-Blockchain Communication (IBC) Protocol. This empowers users to directly interact with Injective’s Web3 financial modules, facilitating complex cross-chain transactions, “including advanced order routing and swaps.”

Exotic Oracle Feed Design for Expanded Possibilities

Injective is also rolling out its Exotic Oracle Feed Design, a feature that “integrates off-chain price feeds directly into the blockchain.” This addition broadens the possibilities for dApps, allowing them to “launch a variety of exotic assets, markets, and products, including foreign exchange, tokenized bonds, and more.”

Enterprise APIs and Improved Token Economics

The latest enterprise APIs by Injective reportedly “reduce latency by 90% for institutional users.” This improvement is achieved through an innovative mechanism that enables users to bypass indexers and directly post transactions onto the blockchain, enhancing efficiency and speed. Additionally, Injective has modified its on-chain inflation parameters, making the INJ token increasingly deflationary over time. The token’s economics are designed “to improve dynamically as staked assets grow, potentially reducing inflation to near zero in the long term.”

CEO Statement: Eric Chen on the Volan Mainnet Upgrade

Eric Chen, CEO of Injective Labs, emphasized, “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 continues to cement itself as the only major L1 blockchain for finance, paving the way for everyday users and institutions alike to attain unprecedented access into the world of Web3 finance.”

Background on Injective

As highlighted in the update, Injective serves as “an interoperable layer-one blockchain optimized for building premier Web3 finance applications.” Developers benefit from powerful plug-and-play modules for creating unparalleled dApps. The platform’s native token, INJ, powers Injective and its rapidly expanding ecosystem. Noteworthy backers include Binance, Jump Crypto, Pantera, and Mark Cuban.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.