Injective has activated the IIP-677 mainnet upgrade to version 1.20.3 on July 29, 2026. The proposal received a 72% approval rate from token holders during the governance process.
The core of the update is Injective Mint, a platform for issuing tokenized equities and bonds. It supports compliance with US SEC regulations and European MiCA standards through official filings and whitepapers.
The IIP-677 upgrade improves cross-chain interoperability, reduces block times, and optimizes staking mechanics for the native INJ token. It also introduces new revenue streams for the protocol.
The preceding Vulcan upgrade, launched on June 9, 2026, reduced transaction fees and added support for native Circle-issued USDC, replacing bridged versions to mitigate smart contract risks.
As of mid-2026, Injective reports over $6.8 billion in cumulative trading volume for real-world assets, with approximately $1.1 billion in tokenized asset value currently on the platform.
