This section provides comprehensive documentation for developers, traders, and
market makers building and participating in Injective’s decentralized finance ecosystem.
Whether you’re integrating wallets, creating trading strategies, launching tokens, or providing liquidity,
you’ll find the technical specifications, guides, and resources needed to interact with
Injective’s on-chain exchange module and financial primitives.
Injective is purpose-built for finance, offering the world’s first truly on-chain orderbook environment that
brings shared liquidity across all DeFi applications.
Unlike traditional DEXs that rely on automated market makers (AMMs),
Injective uses a fully decentralized central limit orderbook (CLOB) that achieves
capital-efficient price discovery and instant finality.
With sub-second block times, zero gas fees for makers, and cross-chain interoperability via IBC and Ethereum bridges,
Injective eliminates the trade-offs between performance and decentralization,
enabling sophisticated trading strategies and institutional-grade financial applications that were previously impossible in DeFi.
Key Concepts
| Term | Definition |
|---|
| Exchange Module | Injective’s core on-chain orderbook module that enables fully decentralized trading of spot and derivative markets with shared liquidity across all dApps. |
| Denom | The unique identifier for assets on Injective (e.g., inj, peggy{ERC20}, ibc/{hash}), used within the Bank module for transfers, trading, and staking. |
| Open Liquidity Program (OLP) | Injective’s market-maker incentive program that rewards participants with INJ for providing orderbook liquidity, with minimal barriers to entry. |
| Token Factory | A permissionless module allowing any account to create new native tokens with the format factory/{creator}/{subdenom}, enabling custom asset issuance. |
| EIP-712 | The Ethereum signing standard used by Injective to enable seamless transaction signing with Ethereum wallets like MetaMask while broadcasting to the Cosmos chain. |
Navigation
- Wallet —
Learn about supported wallet types including Ethereum-native (MetaMask, Ledger), Cosmos-native (Keplr, Leap),
and Injective-native wallets, plus how account management and transaction signing work on Injective.
- Trading — Explore Injective’s on-chain exchange capabilities including spot markets, perpetual futures,
expiry futures, margin trading, order types, and the fee structure for makers and takers.
- Token Standards — Understand the different token types on Injective including native INJ,
Peggy assets from Ethereum, IBC assets from Cosmos chains, CW20 tokens,
and how to create custom tokens using the Token Factory module.
- Open Liquidity Program (OLP) —
Discover how to earn INJ rewards by providing liquidity to Injective’s orderbook, including eligibility requirements,
scoring methodology, epochs, and reward disbursements.
Last modified on March 31, 2026
