Upload Injex Finance Staking Contract Wasm Code

Description

Upload Injex Finance Staking Contract Wasm Code

Background

Injex Protocol operates by connecting to various DEXes within the Injective Network, aggregates their liquidities, and grants access to its users at the best possible rate with minimal slippage.

Summary

This proposal aims to upload the Injex Finance Staking Contract for use by the Injex Finance app on Injective. This contract was specifically created for the Injex Finance dApp.

About Injex Finance

Injex Finance, like pioneering liquidity aggregators, primarily focuses on aggregation, but this time specifically on the Injective network through a groundbreaking aggregation protocol. The aggregator represents the development of pre-existing protocols' capabilities and strengthens novel features unique to the Injective Chain. Distribution of trade weights into many liquidity pools simultaneously thereby effectively diminishes the impact of price slippage.

Sale Information

Injex Finance conducted a token sale to raise funds for the continued development and expansion of its protocol. The sale was structured to ensure broad community participation and fair distribution. The funds raised are allocated towards protocol development, liquidity provision, and community incentives, ensuring the long-term sustainability of the Injex ecosystem.

Staking Connection

The staking contract will be directly connected with the Injex token (INJX). Users will be able to stake their INJX tokens to earn rewards, further integrating the token into the ecosystem and providing additional utility for token holders.

Contribution to TVL and total growth

Expected results from the Staking Contract of the Injex Finance ecosystem would mean more than just a huge increase in its TVL. With more users staking their INJX, the total value of stakes like that will increase and hence show growing confidence and activity around the platform. This raises TVL, which is more exposure to the protocol but also strengthens the system's stability and liquidity. More TVL is generally friendlier for the users and projects in a very reinforcing, positive cycle of growth and innovation. In addition, this would further enhance liquidity and reduce slippage through other general healthy and sustainable achievements when integrated into the Injective network via the Injex Finance Staking Contract.

Impact on the Injective Ecosystem

All this reinforces the already positive impact of the successful embedding of the Injex Finance staking contract to make a positive influence over the entire Injective ecosystem. It thus boosts TVL and liquidity for Injex Finance, surely strengthening the Injective network while making it more dynamic and interconnected, giving way to new paths of collaboration, innovation, and growth. Efficient liquidity aggregation and distribution will benefit users most in the Injective network, typified by better trading conditions characterized by reduced slippage. This will solidify Injective even further as one of the top decentralized exchange networks proven by its increased usage and further success of the ecosystem at large.

Key details of the sale include

• Token Symbol: INJX
• Total Supply: 100,000,000 INJX
• Sale Mechanism: The sale was conducted via a series of rounds, each with a predefined price per token. Early participants benefited from lower prices, incentivizing early adoption and participation in the network.
• Use of Funds: The proceeds from the sale are allocated to various development initiatives, including staking rewards, liquidity provision, and the ongoing development of the Injex Finance ecosystem.

Contract Information

Compiler Version: cosmwasm/rust-optimizer:0.12.12

Staking Checksum

2c6363daa4698f208b0f8a9c34914db0d0d1ee6b835fa48e183b0f1a182f4fbb

TL;DR

This proposal is to upload the Injex Finance Staking Contract on Injective.

Voting Options

• YES: You agree to upload the Injex Finance Staking Contract as described in this proposal.
• NO: You do not support uploading the Injex Finance Staking Contract as described in this proposal.
• NO WITH VETO: You find this proposal to be spam/irrelevant/malicious to governance, and you contribute to burning the 100 INJ deposit if NoWithVeto votes are greater than one-third of the total voting power.
• ABSTAIN: You wish to contribute to the quorum while formally declining to vote either for or against the proposal.

References:

• Website https://injex.fi/
• Twitter https://twitter.com/Injex_fi
• Medium https://medium.com/@injexfinance
• Whitepaper https://docs.injex.fi/
• Telegram https://t.me/injexfi
• Presale https://sale.injex.fi/
• DApp https://app.injex.fi/
• Staking contract https://github.com/RedDuck-Software/injex-staking