Injective Trench Takover - ft. Runup, Sprout, and Ninja Cat

projective EVM. Creators, our focus is primarily on creators, about two thirds of the curfee's go to the creators. And that's been over $13,000 paid up to unique creators on Sprout. Our protocol revenue buys and burns Sprout. We're contributing 80% of all protocol revenue to buybacks. And recently this morning we've burned about $1 million as we started our buybacks. One of our differentiators is that we're going to allow people to pair against anything, any asset. Currently we only have it paired against injective, but once we finalize our EVM router we'll be opening up pairings to any asset. So creators have full customizability and it will also be reported for everything that they built. Awesome. So there you have it guys. Those are the two launch pads that have launched in just the past few weeks here on Injective. And one of the awesome things that we've really seen is just a great reception across both the Injective trenches as well as the Solana trenches. And obviously these launch pads are bringing just a lot of attention. I think to the trenches in general. And so speaking of one of the projects that has come out of those trenches has been Ninja Cat. And so I do want to give Ninja Cat just a bit of time to kind of go through, you know, introduce their project and speak about sort of how they came to be. So Ninja Cat team, I'll pass it over to you guys. Yeah, thanks GM GM. This is chatty on the main Ninja Cat account here handle on X is chatty calf. Just a brief overview on Ninja Cat. Maybe fairly self-explanatory but you hold Ninja Cat in your earnage. And really I think just the punch line is Ninja Cat is a stonkle on a right. So stonk fun launch Solana coin native but also a mixed breed with Injective. So we launch a height video where we posted one maybe 15, 20 minutes ago. It kind of helps show that video format. So take a look at that. There as well, but I know we're going to get more into Ninja Cat, you know, kind of later on to go a little bit more about myself. So I am one of the core contributors behind Ninja Cat. We'll talk about the thesis. But just, you know, I'm a big believer in not only like understanding the coin and understanding the people right that are behind it. So I joined the space four years ago now coming up on four years. I was very early to the Solana trenches. Like almost painfully early, I couldn't really see the forest through the trees there. And part of the building the trenches quite frankly. I was the lead of Chunky, which you may or may not be familiar with, which is a coin on Solana. I led that project from a 50k market cap to a $50 million market cap in the span of a six month period continued working on that for about 18 months and a total clearly marking conditions changed, pumpkin around right. There's a lot of considerations there. But I think if anything, I consider myself like when I believe in an narrative and the thesis in the people pushing and this collective, I'm just around on this with it. So you could see kind of with our posts recently. And lastly, we'll get more into Ninja Cat and the thesis, but I just want to say a big thanks to the team for believing in us and the support from the treasuried there. So thanks again. Thank you for that intro Ninja Cat and also a great little shout out. I think to the the trench treasury. And you know, I think we'll get into some more about it, but but Mirza or Oz, do you guys want to take just a minute or two just explain what the treasury is? How it works and kind of go through that? Yeah, happy to explain. So most of you know me might be a few new faces. So for anyone who doesn't know, I'm Mirza. I'm the COO here at Injective. And super excited to see so many different projects coming together and trying to build on chain community here at Injective. And I'll start by just explaining the trench treasury and how we came up with it. So for the longest time, I wanted to support ecosystem tokens, right? ecosystem tokens built by builders on Injective. The issue previously was that from a legal perspective, we're not allowed to support, let's say meme tokens or certain NFTs through the Injective main account or through the Injective Foundation. We can directly fund them. So what ended up happening is people like me, people like Eric, who's the CEO of Injective, just used our personal accounts and our personal accounts. And we're still continuing to do that to this day. But we felt like for us to really spur on the ecosystem, we need a way to bring utility and bring more exposure to different assets launched using Injective or are bi-injective. So that's really the intention behind the trench treasury. And we saw a major shift in the last few months with what's going on with these asset classes. So the trench treasury is really meant to support tokens or ecosystem tokens. They could be memes. They could be launch pads. But tokens that bring more utility to Injective or to Injective and bring more users into Injective. Full stop. So that's pretty much it. So if you are bringing organic usage to Injective or to the Injective token and you're bringing a new exposure or eyeballs to Injective and you bring new forms of utility, let's say new value approval mechanisms, you can qualify for this. And the mandate is very open ended by nature. So maybe we can post Yeah, we posted the trench treasury post, right? If you want to click on to that tweet, it'll kind of explain on a high level how it works. The mandate is open ended because we want it want everyone to be able to participate, right? So we made the announcement about a week ago now that hey, we're launching the trench treasury. And since then, we've already made a bunch of deployments. So the first deployments we made were into run up and sprout. There are two huge long fats that came out of nowhere, brought a ton of eyeballs into Injective. And they both offer a differentiation like you heard in the intros. Brow in my opinion is a great social trading terminal that allows people to chat and socialize and launch new tokens on Injective. Run up is entirely different where yes, they're also a launchpad, but they're trying to create sets that are paired with stock perps or perps. And as you guys know, perps are a huge, huge component of what made Injective what it is today. And especially RWA perps are going to be huge. So people being able to launch that on Injective will bring a lot of attention to the community. So the way we decide to support run up and sprout were just by air dropping. Injective tokens to holders. That did he want else? Yeah, it dropped. Yes, okay. For what reason we can't hear you, Mirza. So not sure what happened there. Maybe we could pivot here guys. Mirza was getting into kind of the differences, I think between right up and sprout. From the perspective of let's say a new token launcher or someone that wants to launch new token, how should I think through the differences between sort of run up and sprout? And all that either of your teams kind of chime in. When I'm first coming to the trenches, and I want to launch a token, like when should I launch on sprout? When should I launch on run up? What are kind of the core differences here? Does anyone mind just taking this real quick? I think I'll let run up speak for themselves, but for us, it's like creator choice. You get to choose a feature and whether you're your holders get rewards. Whereas I think run up is more about taking a direction of position on Perth token. Yeah, I think that's a great way to put it. Run up team. Do you guys want to chime in here? Yeah, I think also one of the differences is around the Perth's treasury. Like you can obviously pick up position to longer short. But the longer term and since a lot of times with mean coins, and I can't speak for sprout here, they have their own long term and since it's with distributions coming and things like that. But for us, the long term and since it is around, how do we get a creator to be able to increase their distribution in terms of marketing as well as how do we increase their ability to rally the community? Right? And so right now the Perth's treasury is a way for creators to be able to burn tokens if they have the correct thesis. And then be able to actively work with their community and over time we'll have it to where you don't have to just sit on one thesis, right? We see with other launch pads across other chains that sitting on one thesis doesn't let you be dynamic. But we're starting off with something very simple for people to understand. So, and I would say the bigger the other side of it is we we focus a little bit more on being able being kind of more aware of what's going on around not just like the crypto markets, but the stock markets as well right? Because all of our main focuses stock perps. And that's one of the advantages that Injective has over our due chains in general. Awesome. Yeah, hopefully that gives you guys in the audience kind of an idea of the differences of these two launch pads. Mirza, I know we lost you. I want to circle back. Are you back with us here? Yeah, I think so. Can you guys hear me now? Yeah, we can hear you. Sorry. I can wrap it up rather quickly. So the last thing I want to mention because I'm getting so many comments on this is yeah, run up and sprout differentiated products both focus on different launch pad Ninja cat is quite unique right because it was really one of the first meme tokens I've ever seen that allow you to earn i and j. So just by holding Ninja cat on Salana, you're able to earn i and j. So utility doesn't just mean you need to build a brand new like launch pad right? You don't need to do that utility could be anything. Anything that puts i and j at the core and allows you to earn that can qualify for the trend treasury. And I also want to remind the audience that this is just the start of the trend treasury. We've already done two major drops. One was an air drop for both run up and sprout and the second one was us announcing that we've acquired 10% of the ninja cat supply, which took many by surprise. But that's really what the trend treasury is for like we don't want to make a ton of noise. We want to work silently and when it's time to announce will announce so behind the scenes. We're already doing a bunch of work. For instance, with Ninja cat, we didn't just acquire 10% of the supply in one day. We waited for the markets to completely lose attention for Ninja cat, right? I think the market cap went down to sub 100k and we slowly used a bunch of different wallets to start t-wapping like $20 at a time, $30 at a time. No one noticed right? No one knew that we were doing this. So just note that we are doing other things and you will come to learn about them. The point is all to support the injective ecosystem and support the builders who stayed through to the trenches regardless of how hard the times get and come up with innovative products. So in all the drops we did, both for run up and sprout, you notice that oh, we did it when the reward the holders that didn't lose faith. Same with Ninja cat. We only started doing it when everyone seemed to have left like the big KOLs, etc. That initially came in when Ninja cat lost. They all sold and left and that felt like the perfect opportunity because that's when you build real loyal community and real builders. That's where the point of the trenches. It's not going to be easy. It's going to be hard but the people who stayed through and build new things and bring you utility to iJ. That's what we're here to support. Hope that helps clarify something. I think it does. And Mirza, I'd maybe love to just dig in just a little bit more on that specific front. You know, you talk about kind of new and novel products. You talk about for the giving utility to i and j. If you had like a crystal wall and were able to kind of spawn a new project that kind of fits all of these boxes. What would that look like? And for the builders and the audience, you know, what would you say are some of the projects of like, hey, this would really move the needle when it comes to like improving the trenches, improving injective, things of that nature. Yeah, it's a very good question. So I'll keep it brought right because it's not just one amazing product idea that everyone needs to suddenly build. I think what injective has right now is we have good dexas, we have good launch pads. So what I want to see is more innovation around the culture around injective things that bridge communities together. So Ninja cats a great example. They launched their token on salana but at the core of it is just i and j. So I would love to see experimentation like that. Like how can we bring new usage to injective that doesn't exist on other chains? And I'm going to say, I'm going to give you a couple ideas, right? One idea that I think people are not taking seriously enough is our focus on RWA's and privacy. So you guys know that injective is coming out with injective myth later this year that will allow anyone or any institution to tokenize assets very easily.