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Injective unveils mainnet upgrade Volan for seamless cross-chain transactions

Injective, a Layer 1 blockchain platform specialized in Web3 finance applications, has introduced a mainnet upgrade called Volan. This upgrade allows the integration of real-world assets into the Injective platform and facilitates transactions between different blockchains.

The upgrade involves incorporating a specialized software module for real-world assets (RWAs). The use of Injective’s RWA module allows institutional users to introduce a permissioned asset, giving them complete authority over the addresses permitted to engage with that particular asset.

This approach enables entities to adhere to specific compliance requirements while venturing into the on-chain space for the first time. This development is crucial in unlocking institutional adoption on-chain, which was previously hindered by the absence of a robust infrastructure stack.

Expanding access to tokenized securities and more

The main objective of the Volan upgrade is to offer both institutional and individual users the opportunity to engage with a diverse array of structured products. These planned offerings encompass tokenized fiat currency pairs, treasury bills and exclusive credit products, with the aim of tapping into the expanding market for tokenized securities, which has exceeded $500 million in size over the past year, according to Dune data.

A notable aspect of the Volan upgrade involves improving the integration of the inter-blockchain communication (IBC) protocol into the Injective ecosystem. This development enhances the interactions between Injective and other chains within the larger Cosmos ecosystem.

Through the use of IBC, Injective seeks to simplify complex cross-chain transactions, allowing for sophisticated order routing and swaps. For example, users can initiate cross-chain swaps using decentralized applications on other Cosmos blockchains like Celestia or Osmosis. These transactions can then be smoothly executed by directing them through Injective’s order book module.

Beyond this, Volan incorporates various features, including expanded wallet access to decentralized applications (dApps) developed on the Injective platform. The platform also enables “the creation of tokens with tailored features, including specific allow lists that control asset access.” Injective has integrated the permissioning layer into its native chain, ensuring efficient use of capital for users while establishing “compliant access points for financial institutions.”

“This Injective Volan Mainnet upgrade is focused on providing developers with unmatched native building blocks for next-gen finance applications while simultaneously improving connectivity to other blockchains and applications. Injective continues to cement itself as the only major L1 blockchain for finance, paving the way for everyday users and institutions alike to attain unprecedented access into the world of Web3 finance,” said the CEO of Injective Labs, Eric Chen.

The Volan upgrade also fulfills a longstanding request from the Injective community, offering the capability to burn any bank token created on the Injective platform. This enhancement empowers projects on Injective with increased flexibility in executing token burns.

Efficiency boost

Injective has introduced substantial updates to its enterprise APIs, aiming to drastically decrease latency by up to 90 percent for institutional users. This improvement is achieved through an innovative mechanism that allows users to bypass indexers and directly post transactions onto the blockchain. This modification significantly enhances efficiency and speed.

Injective has also adjusted its on-chain inflation parameters to make its native token, INJ, increasingly deflationary over time. The token’s economics are now designed to dynamically improve as staked assets grow, potentially reducing inflation to near zero in the long run.