Binance will temporarily pause INJ token deposits and withdrawals tomorrow as the Injective protocol rolls out its latest mainnet upgrade. Trading on the exchange will continue as normal, so holders won’t be locked out of their positions, just their on-chain movements.

The upgrade, designated IIP-665 or v1.20.1, is scheduled for a chain halt at approximately 14:00 UTC on July 2, 2026.

What IIP-665 actually does

IIP-665 is focused on performance optimizations and technical improvements across Injective’s on-chain modules and economic structures.

The upgrade builds on the much larger Vulcan mainnet upgrade, version 1.20.0, which went live on June 9, 2026. That one introduced native USDC support, new real-world asset markets, lower transaction fees, and an advanced oracle engine that slashed gas costs for price data by approximately 90%.

IIP-665 smooths out the technical infrastructure that Vulcan laid down, optimizing the systems that now handle native stablecoins, RWA tokenization, and perpetual trading on the network.

Binance has supported multiple Injective mainnet upgrades previously, including ones in December 2025 and earlier in 2026. Pausing deposits and withdrawals during a chain halt prevents tokens from getting stuck in limbo between the old chain state and the new one.

Injective’s upgrade velocity in context

Injective operates as a Cosmos SDK-based Layer-1 blockchain built specifically for decentralized finance. The protocol is tailored for perpetuals, stablecoin functionalities, and RWA tokenization.

The governance of Injective has produced multiple upgrades since the protocol launched in 2021. Two significant mainnet upgrades within a single month, Vulcan on June 9 and IIP-665 on July 2, reflects an accelerating development pace.

On July 1, 2026, the Injective community executed buybacks totaling over $246,000. INJ functions as both the native utility token and the governance token for the protocol, meaning upgrade proposals like IIP-665 go through on-chain voting.

What this means for investors

The Vulcan upgrade’s 90% reduction in oracle gas costs is a meaningful competitive advantage in DeFi, where transaction fees directly impact trader profitability and protocol adoption.

Injective’s recent addition of native USDC support and RWA markets, combined with ETF filing activity noted in recent ecosystem developments, adds institutional interest that could drive future demand for INJ.