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Five years ago, Injective produced its first block. Five years later, the first U.S. ETF for $INJ launched on Nasdaq and some of the world's largest institutions onboarded to Injective. Year 5 was our most transformative year yet with much more on the horizon. Here are just some of our biggest milestones ⤵️ 🏛️ INJ Enters Global Financial Markets • First U.S. Staked $INJ ETF launched on Nasdaq • First regulated U.S. futures for $INJ • Asia's first regulated INJ investment fund launched • MiCA regulatory milestone expanded access across Europe • @RobinhoodApp, @Revolut and @BinanceUS listed $INJ • Native $INJ expanded to @solana 🏦 Global Institutions Go Onchain with Injective • $1 Billion+ in mortgage records tokenized onchain by publicly listed company Pentiv on Injective • Global giants POSCO International and LG CNS partnered to tokenize real world trade receivables • Injective became the first L1 to become an SEC registered transfer agent which enables us to bring regulated tokenized assets to market • Injective Institutional Rail introduced to connect banks directly to blockchain infrastructure • Injective Mint launched in beta to enable compliant RWA issuance without code • @Bitwise, @nansen_ai and Gulf Labs joined the Injective validator ecosystem 🌎 Injective Powers Global Financial Infrastructure • Native USDC launched with @circle • Injective is set to be the canonical stablecoin standard across more than 20 chains • Injective set to tokenized the Korean won to bring bank backed Korean won stablecoins onchain 📈 Onchain Markets Reach New Heights • Over $12 billion in annual trading volume • $2.5 billion in peak monthly trading volume across Injective DEXs • Tokenized stocks broke monthly volume records four consecutive months • Native EVM launched with 30+ applications and integrations on day one, unlocking the next era of MultiVM • @chainlink Data Streams integrated for real time financial market data • Injective Options introduced on testnet • New perpetual markets introduced for AI compute, including NVIDIA GPU rental prices 🔥 The $INJ Economy Grows Stronger • Over 7.29 MILLION $INJ permanently burned • 517,692 $INJ burned through the Community BuyBack program • Record 58.8 million $INJ staked • Stockdrop launched to bring tokenized stock rewards to BuyBack participants 🤖 Unlocking the AI Economy • AI agents can autonomously trade perpetuals using natural language • Onchain agent identities enable autonomous participation and trading revenue sharing • Injective chosen to join the Linux x402 Foundation • x402 enables AI agents to make USDC payments in approximately 600 milliseconds • New infrastructure introduced to power the next generation of autonomous financial applications 🚀 The Biggest Milestones Are Still Ahead And we're only getting started. • $10 billion+ in real world assets targeted to come onchain • CypherOS mainnet bringing native privacy to Injective • $100M+ in USDC issuance set to occur on $INJ • Quantum resistant security in the works for Injective • Institutional Rail expanding to connect more banks and global financial institutions • New regulated investment products bringing $INJ to more users worldwide • Entirely new financial markets, tokenized assets, institutions and AI applications launching on Injective Five years ago, Injective started with a simple but ambitious vision: rebuild the global financial system onchain and make financial markets accessible to everyone. Today, that vision is becoming a reality. None of this would have been possible without the incredible builders, validators, institutional partners, stakers and millions of ninjas who believed in us along the way. Thank you for five extraordinary years. We spent the first five years building the foundation for a new global financial system. The next five will be about bringing that vision to billions worldwide. The best days for Injective are yet to come. Lock $inJ

Injective just rang the opening bell at @Nasdaq 🔔 Our CEO @ericinjective joined Canary CEO @StevenMcClurg to open the market and celebrate the launch of $INJC, the $INJ Staked ETF. What started in a dorm room in 2018 is now at the center of Wall Street. Much more to come.

Today, INJ just made history. $INJC, the first U.S. ETF for $INJ, is now live on @Nasdaq with staking built in. A new era of Injective begins now 🧵

Injective now leads all major blockchains by revenue to fully diluted market cap. → Ahead of Solana → Over 20% ahead of Arbitrum → Over 8x Ethereum → Over 10x Sui and Avalanche Revenue / FDV is one of the clearest measures of whether a network’s valuation is backed by real usage. On Injective, that onchain revenue flows into the INJ Community BuyBack, permanently removing $INJ from supply every month. This revenue is set to accelerate as Injective onboards new tokenization initiatives and launches brand new products in the coming months.

Today we are releasing the new Injective Whitepaper. It is the first full rewrite since our original paper in December 2018, which described a front-running-resistant exchange protocol on Ethereum. Eight years later, Injective has evolved greatly into becoming a layer-1 blockchain for institutional-grade finance and tokenization. Every layer of the protocol exists to issue real-world assets and give them real utility across markets, applications, and AI agents. Inside the paper → Asset issuance. Native RWA tokenization with role-based permissions over mint, send, receive, and burn, plus programmable receive hooks and sealable namespaces → RWA exposure. iAssets, stablecoin-margined, oracle-priced derivatives that track external assets with no wrapping or pre-funding → Trading. Tokenized assets trade on a fully onchain CLOB where each block runs a sealed frequent batch auction at a uniform clearing price, resisting front-running and ordering MEV → Settlement. BFT consensus with a greater-than-two-thirds commit threshold delivers deterministic finality with ~600ms blocks → Composability. Native EVM and WASM in one canonical state, with the MultiVM Token Standard keeping a single bank-module balance per asset, exposed to Solidity through precompiles → Derivatives. Perpetuals with time-weighted premium funding, initial and maintenance margin checks, reduce-only liquidations, and insurance funds → Agentic finance. AI agents operate on tokenized assets through MCP servers, policy-bounded signing, and x402 machine payments in USDC → Value accrual. Onchain protocol revenue flows to the recurring Community BuyBack for $INJ The paper formalizes each mechanism, from the consensus threshold and block lifecycle to the batch clearing rule, oracle accounting, derivative risk checks, permission model, and dynamic issuance controller. From issuance to settlement, one chain built for the full lifecycle of tokenized finance. Read it below.

Starting today, you can purchase from over 8,000 brands like DoorDash and Amazon using USDC on Injective. This is all made possible via Injective’s work with @lifiprotocol & the launch of $INJ native USDC which is now the canonical standard across more than 20 blockchains.