Injective (INJ) perpetual market

Injective is a layer-1 blockchain launched in 2021, purpose-built for decentralized finance and especially for trading. Founded by Eric Chen and Albert Chon and incubated by Binance Labs, it is built with the Cosmos SDK and offers a fully on-chain order book, in contrast to the automated market makers common elsewhere, letting it support spot and derivatives markets that feel closer to a traditional exchange. Its native token, INJ, pays fees, secures the chain through staking and is used in governance, with a weekly burn auction that removes tokens from supply using protocol fees. Injective emphasizes interoperability, connecting to Ethereum, Cosmos and Solana, and provides modules that let developers launch financial applications quickly. It has positioned itself around bringing sophisticated trading, real-world assets and, more recently, AI-related applications on-chain, competing with other finance-focused networks.