Injective Protocol, a decentralized finance-focused platform, has launched TokenStation. In a blog post On March 18, Injective said the solution, deployed on its mainnet, allows users to launch native tokens. With this tool, Injective said it would allow anyone to create their tokens in a low-cost and scalable environment.
Injective Launches TokenStation and Enters into Key Partnership
The tool was developed by the Injective community and aims to “remove barriers to entry for tokenization.” Like the tokenization tools on Solana and Ethereum, for example, using TokenStation, part of the blog post will not require coding experience.
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This makes it easier for individuals and projects to launch on Injective. Beyond token minting, the tool enables token management and the integration of tokenomic mechanisms like burning.
Blockchain launches TokenStation days after partnering with AltLayer, a Binance Labs-backed platform dedicated to developing roll-up technology for Ethereum. Through this collaboration, the two will build a re-staking security framework for Injective Ethereum Virtual Machine (inEVM) applications.
Newly launched inEVM allows developers to seamlessly build applications taking advantage of the high scalability and near-zero fees on Injective. Additionally, inEVM is configured to increase composability between WebAssembly (WASM) and EVM environments. With this unique feature, Injective can bridge the interoperability of Cosmos, the development activity of Ethereum, and the high scalability of Solana.
Will Volan help support INJ prices?
In January, Injective Protocol activated the Volan upgrade, implementing the platform's plans to create a robust real-world tokenization infrastructure. Part of this was the introduction of a Real-World Asset (RWA) module. In this way, institutions can launch regulatory-compliant security tokens.
Additionally, Volan modified the INJ tokenomics, making the token progressively deflationary. Burning reduces INJ tokens over time, a measure adopted by other protocols including BNB and Ethereum.
Although the upgrade and subsequent partnerships have increased its importance in decentralized finance (DeFi), growth has been slower than expected.
DeFiLlama data so far watch This injective protocol commands a total value locked (TVL) of less than $65 million. This is miles away from Solana or Ethereum, two of the most active smart contract platforms in the world where active DeFi protocols also thrive.
Meanwhile, INJ prices, although relatively higher, are under pressure, as shown by the arrangement of the candlesticks on the daily chart. INJ is down 30% from 2024 highs, sliding and tracking Bitcoin. However, the coin is part of a broader consolidation. Resistance and support levels lie around $44 and $30, respectively.
Featured image from Canva, chart from TradingView
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