Injective protocol launches inEVM on mainnet, INJ surges 17%

Decentralized protocol Injective has announced the launch of its inEVM layer 2 accumulative solution on the mainnet.

According to a post from the Injective team on March 7, Injective is launching inEVM on the mainnet, the first Ethereum Virtual Machine capable of achieving true composability across Injective and Ethereum.

“Injective’s inEVM enables Ethereum developers to build applications that can uniquely leverage Injective’s blazing fast speeds and near zero fees while simultaneously achieving composability across the WASM and EVM world.”

Injective team

Last September, Injective released the inEVM testnet in partnership with Caldera. InEVM from Injective allows Ethereum developers to deploy their applications on Injective without changing code.

According to the developers, this allows Injective to be the only layer 1 blockchain capable of combining Cosmos compatibility with the speed of Solana and developer access of Ethereum.

Amid the launch of the mainnet, INJ jumped 17%. At the time of writing, the token is trading at $43.40, increasing its market capitalization to $4 billion on the back of the latest initiative.

In January, Injective also announced the imminent staking of 50% of the total INJ token supply. Experts consider this an essential step in decentralizing the network. The news followed shortly after Injective released a major mainnet update called Volan.