According to the announcement on March 7th, the layer-1 blockchain built on the Injective Cosmos infrastructure has initiated the deployment of the inEVM layer-2 onto the mainnet. The company positions its solution as the first Ethereum Virtual Machine rollup capable of truly integrating with Cosmos and Solana.
inEVM is part of Injective’s strategy to establish the “Electro Chain” network, expanding the layer-2 ecosystem and scalability to other blockchains.
Currently, inEVM utilizes Celestia’s DA layer, Pyth Network’s Oracle, and technologies from LayerZero, TimeSwap, Thetanauts. inEVM facilitates Ethereum dApp developers to easily connect and deploy their applications on this layer-2, opening up new opportunities for Injective.
In September 2023, Injective began deploying a testnet for inEVM in collaboration with Caldera, a custom rollup solution developer. Initially, Injective planned to launch the mainnet for inEVM in the fourth quarter of the previous year but decided to postpone it until today.
Also, in the past year, the project raised $40 million from Jump Crypto and introduced a $150 million ecosystem development fund with the participation of Pantera, Jump Crypto, Kraken Ventures, Kucoin Ventures, and Delphi Labs.
Related: What Is Injective Protocol? All About INJ Token?
INJ Chart After the Announcement from Injective
INJ/USDT chart on Tradingview at 06:33 AM on March 8, 2024 (UTC)
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