Thank you for being part of the Injective family! We are approaching a very exciting milestone with the upcoming public sale on Binance and can’t wait to show you what’s in store.
Injective has now garnered funding from a group that includes Pantera Capital, Hashed, and a diverse array of prominent funds as well as market makers in the blockchain space. Pantera Capital led our private round which makes us the first project that Pantera has backed since the start of the COVID-19 pandemic, which Pantera Partner Paul Veradittakit wrote about earlier this year. We are fortunate to have such a distinguished group of investors who have previously supported groundbreaking projects in the blockchain industry.
Today, we are very excited to share the next step of our journey with all of you. Binance has just announced that Injective will be the next project to launch a public sale on its platform. This means Injective will be the first incubated project by Binance Labs to debut its public sale via Binance Launchpad.
The Injective team is thrilled to be supporting the continued success of the Binance ecosystem and the DeFi industry as a whole. Our team has been working tirelessly to prepare for the upcoming public testnet launch and the showcasing of our DEX to all of you. We have always been strong advocates of DeFi accessibility as well as adoption and have built these virtues into our mission. In pursuit of this goal, we decided to design our ecosystem in a way that allows our public supporters to be the first individuals to receive INJ tokens.
In order to show our dedication to the community and the DeFi community, our team has taken it upon themselves to extend our vesting period to three years. The team will not receive any tokens until Q2 of 2021. Our vest is structured in a way that would allow the public and private investors to retrieve their tokens well before the team can.
Additionally, Injective’s institutional and private investors also wanted to show their support by locking themselves up for a longer period of time. Early supporters and investors have played an integral role in Injective’s growth thus far. A longer lockup and vesting period for our investors will aid in ensuring that the incentives of the team and investors remain closely aligned moving forward.
We have designed the lockup in this manner in order to ensure that public sale investors are able to receive their INJ tokens several months before any institutional investor. We believe that this will help grow our community in the long-run and create a much fairer token distribution for everyone.
Here is a summary of the changes:
20% of Total Tokens
16.67% unlocked 9 months after IEO with 16.67% unlocked every 6 months with the last vest occurring at the end of 2023.
16.67% of Total Tokens
33.33% unlocked 6 months after IEO with 33.33% unlocked every 6 months with the last vest occurring in Q2 of 2022.
Please note that Binance Research will be releasing a full report on Injective today that will highlight the full token metrics in detail.
We are so grateful for all of the support we have received in our journey to bring the first fully decentralized derivatives exchange to the market. We would not be here today without all of your help and support, so we are excited to be able to give back and invest in the community and the DeFi industry as a whole.
We look forward to working with all of you as we unlock the next frontier in decentralized derivatives trading.
About Injective Protocol
Injective Protocol is the first layer-2 decentralized exchange protocol that unlocks the full potential of decentralized derivatives and borderless DeFi. Injective Protocol enables fully decentralized trading without any restrictions, allowing individuals to trade on any derivative market of their choosing.
Injective Protocol is backed by a prominent group of stakeholders including Pantera Capital, one of the most renowned venture capital firms in the world, and the leading cryptocurrency exchange, Binance.
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