Hassan Maishera
On Tuesday, the Injective team announced via X that the Injective Vulcan Mainnet Upgrade proposal is now live for voting.
Vulcan rebuilds Injective's oracle module and cuts oracle gas usage by 90%. Faster, cheaper price updates across every market, and the foundation of institutional-grade markets is built on.
With the upgrade, Pyth Pro and SEDA will become the new oracles on Injective. A new oracle precompile puts canonical Injective price data directly inside EVM smart contracts. Every app across the MultiVM reads accurate onchain prices with nothing external to plug in.
Vulcan tightens the standard for every asset minted through the token factory and drives Injective's canonical Circle USDC standard forward, allowing Injective to move towards its goal of becoming the base layer for stablecoins onchain.
The new Oracle stack brings institutional-grade, low-cost pricing to real-world assets. It also opens the door to a Morpho integration that extends Injective pricing into onchain credit and lending.
Finally, execution gets leaner across the chain and bridge fees drop, cutting the cost of moving stablecoins and assets between networks. Injective continues to be the most cost-effective chain in crypto.
Injective uniquely provides powerful core financial infrastructure primitives that applications can leverage, including a fully decentralized MEV-resistant on-chain orderbook. Developers can utilize Injective’s plug-and-play modules to rapidly deploy applications that could take years on other chains. Injective is also one of the most interoperable L1s ever created, which is fully compatible with major chains such as Ethereum and Solana.
Injective also provides a next-generation, highly interoperable smart contract platform based on Wasm 2.0, with advanced interchain capabilities. Injective utilizes a custom implementation of the Tendermint Proof-of-Stake consensus mechanism, providing instant transaction finality with lightning speed – sub-second block times (0.6s) while sustaining enormous throughput (25,000+ TPS). Injective is currently also leading new forms of innovation across a number of verticals, such as its pioneering work to integrate artificial intelligence with on-chain finance.
Injective has achieved a historic milestone of over 1 billion transactions to date, with one of the fastest chains built to date. The Injective ecosystem includes 100+ projects and over 500,000 community members globally. Injective was originally incubated by Binance and is also backed by a group of prominent investors, including Pantera Capital, Jump Crypto, and Mark Cuban.
Injective is an open, interoperable layer-one blockchain for building powerful DeFi applications. Injective uniquely provides plug-and-play financial infrastructure primitives, such as a high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm. INJ is trading at $6.65, down 4.4% in the last 24 hours.
