Injective Pushes Interoperability Upgrade Amid Range-Bound Price
The Injective protocol has been quietly working on major interoperability upgrades, despite its INJ price being stuck in a range-bound $3-$5 trading zone for much of 2026. According to Coinpedia, the protocol's governance page shows over 60 proposals this year, with IIP-677 passing with 72% 'Yes' votes to activate the v1.20.3 interoperability upgrade.
The upgrade builds on earlier architectural expansions, including the Vulcan (IIP-650) and MultiVM rollouts, which introduced native canonical USDC settlement, reduced transaction fees, expanded real-world asset markets, and a next-generation oracle engine.
Another key development is IIP-678, which remains under active voting until July 31. This proposal focuses on recovering an expired IBC light client connected to the QUAD Core chain by replacing it with an active substitute while maintaining the existing connection and channel.