Injective Protocol is a decentralized exchange (DEX) for perpetual swaps, margin, futures, and spot trading. Injective Protocol is not an automated market maker (AMM), unlike other DEXs (such as UniSwap and SushiSwap), and instead relies on order book relayers (also known as order matchers) to manage liquidity. Through a modular implementation of the Ethereum Virtual Machine (EVM) on top of the Cosmos-SDK, the protocol also facilitates the execution of generalized smart contracts (based on Ethermint). Decentralizing cryptocurrency trading and addressing concerns with order collusion and front-running are the goals of Injective Protocol. A multitude of use cases on the Injective Protocol are supported by the ERC-20 utility token INJ, including market making incentives, governance, and block validator rewards. INJ can be kept in a custodian and crypto wallet.
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