Injective launches Layer3 network inEVM based on Arbitrum Orbit

The public blockchain project Injective announced that it will build a Layer3 network — inEVM on the Arbitrum Orbit stack, focusing on high-speed transactions and a burning mechanism, but its long-term development plans have not been seen yet.

Introduction to inEVM

Built on the Arbitrum Stack

inEVM is a Layer3 network built on the Arbitrum stack, providing developers with the same development tools as Ethereum, such as Hardhat and Foundry, and utilizing the existing INJ token as network fuel fees.

Supersonic Trading and Burning Mechanism

According to the team, inEVM is positioned similarly to Injective and will bring a new experience to the ecosystem with ultra-fast transactions.

Injective has launched Gas Compression feature, reducing transaction fees to as low as $0.0003.

inEVM will conduct Burn Auctions, burning a certain percentage of fuel fees generated by the inEVM network weekly, capturing the value of the INJ token.

Further information is pending release by the team.

Injective Development Facing Bottleneck

However, Injective's recent actions seem to be somewhat passive, despite the bullish market and the trend of grabbing attention since the end of last year. Although TVL has increased by about five times, it remains stagnant in the range of $40 to $80 million. According to DefiLlama data, it ranks only 53rd among all public chains and has not made a breakthrough.

The launch of the inEVM network at this time may be aimed at strengthening the ecosystem or simply looking for a new narrative, depending on the team's recent roadmap and long-term plans for this new product.

Without proper planning, inEVM will not contribute to Injective's development.