Injective is often referred to as a "derivatives chain" or an "orderbook chain" by many, but from a trader's perspective, it resembles an execution base for complex trading strategies. To put it simply: on other chains, derivatives are at the "application level"; on Injective, derivatives feel closer to the "system level capability".
By utilizing a chain-level orderbook approach, it executes perpetuals, futures, indices, and even more complex combination strategies in a stable, low-latency, and composable environment. This design is particularly favorable for market makers, quantitative traders, and structured products, as they are most concerned about liquidation volatility, unstable matching, and fluctuating fees.
From a long-term perspective, Injective resembles the "core of an on-chain exchange". While frontends may vary widely, the underlying liquidity, risk management, and clearing logic are increasingly likely to run consistently on this chain.
INJ
5.66
+3.85%