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Injective (INJ)

What is Injective?​

Here are 5 key points about Injective (INJ):

  • Decentralized Exchange Protocol: Injective enables fully decentralized trading, allowing users to trade any asset without intermediaries. This promotes transparency and reduces the risk of censorship.

  • Interoperability: The blockchain supports interoperability with multiple networks, including Ethereum and Cosmos, facilitating seamless cross-chain transactions and increasing liquidity.

  • High Performance: Injective uses a Tendermint-based proof-of-stake (PoS) consensus mechanism, offering fast transaction finality and high throughput, making it suitable for high-frequency trading.

  • Smart Contract Capability: The platform supports smart contracts, enabling the development and deployment of decentralized applications (dApps) and complex financial instruments.

  • INJ Token: The native currency on Injective is the INJ token which is used for transactions fees and also utilized by holders for voting in governance proposals.

tip

Learn more about the Injective Blockchain by reading the Gem Wallet Learn article: What Is The Injective Blockchain?

Injective on Gem Wallet​

Gem Wallet has the following features enabled for Injective:

  • Buy Injective (INJ) with fiat using debit/credit cards.
  • Store Injective tokens securely.
  • Monitor INJ price movement with the built-in charts.
  • Send and Receive INJ tokens natively.
  • Stake INJ to earn more INJ.

INJ on Gem Wallet INJ Chart on Gem Wallet

How to Get Injective?​

Here are some ways to acquire some Injective (INJ):

  • Buy Injective (INJ) directly on the Gem Wallet app.
  • Receive INJ with the unique Injective address on the Gem Wallet app.

Receive INJ on Gem Wallet

Transaction Fees on the Injective Blockchain​

The fees on Injective are summarized as follows:

  • Users on the Injective network are required to pay transaction fees in the native INJ token to execute transactions and utilize network services.
  • Fees are used to incentivize relayers who facilitate transactions on the network. This helps maintain a robust and efficient transaction processing system.
  • Injective implements a dynamic fee structure that adjusts based on network demand and transaction complexity, ensuring fair and efficient fee allocation.

Send INJ fee on Gem Wallet Stake INJ Fee on Gem Wallet

How to Check Injective (INJ) Balance?​

Gem Wallet app connects to the Injective Blockchain to show the INJ balance on your wallet. Tap on the 3 dots at the upper right corner, then tap on View address on MintScan.

View INJ Balance on Gem Wallet View INJ Balance on MintScan

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MintScan is the default INJ explorer of Gem Wallet. You can manually check balances and transactions by going to MintScan and search for your INJ address.

Why Choose Gem Wallet for Injective?​

Here are three reasons why you should use Gem Wallet for your INJ tokens:

  • Enhanced Security: Gem Wallet employs robust security measures, including advanced encryption and secure key management, to protect your INJ tokens from unauthorized access and potential threats.

  • Open-Source Transparency: As an open-source wallet, Gem Wallet allows for community review and audits of its code. This transparency ensures that there are no hidden vulnerabilities and builds trust among users.

  • Multi-Currency Support: Gem Wallet supports a wide range of cryptocurrencies, including INJ tokens. This multi-currency support allows users to manage various assets in one secure and convenient platform.