Injective Protocol announced on Wednesday, November 17, through its Twitter account, that, following a community vote, they will launch Injective Astro: a $120 million incentive program. According to the company, Injective Astro is one of the largest incentive programs not only within the exchange industry but also in all DeFi.
“The community has voted to launch Injective Astro: a $ 120 million incentive program to bring liquidity and merchants to the Injection Protocol. Injective Astro will be the most monumental chapter in the history of Injective, as it is one of the largest incentive programs not only within the exchange industry but also in all of DeFi”, he said through an article published on his website.
The company indicated that only with the launch of the injection governance proposal n. 71, a wave of global media outlets began to cover the story like Decrypt, Cryptobriefing, Yahoo Finance, Coindesk Korea, BlockBeats (China), and much more. In fact, in China alone, more than 10 highly reputable crypto / major media channels covered the news. This is just a glimpse of the news coverage so far with much more in the coming days and weeks as more traders join with the incentives in place.
In addition, he highlighted that the launch of Injective Astro along with the recent mainnet launch and the cross-chain Injective Bridge provide powerful reward incentives and a seamless user experience for new operators to join the Injective ecosystem.
Going Deeper: Astro Mechanics
The company commented that Injective Astro aims to distribute INJ 10 million (≈ $ 120 million) over the next five years to provide more liquidity to the Injective Protocol.
Two subprograms make up Astro: Trade & Earn and DMM.
Dedicated Market Makers (DMM) Program: A total of 3,000,000 INJs are allocated proportionally to all qualified participants in the Direct Market Makers Program, based on individual Market Makers scores calculated every four weeks. DMMs are professional institutional market makers who help provide liquidity to Injective. To maintain a competitive environment, any market maker that performs worst for two consecutive eras will lose all uninvested rewards and may be removed from the program.
Trade & Earn Program: A total of INJ 7,000,000 is allocated proportionally to all trade participants for their creator and receiver orders each week. All Injective users can benefit from this group of rewards.