Injective Protocol’s INJ token goes live on Solana via Sunrise and Backpack Securities

Injective Protocol has taken a meaningful step toward becoming a genuinely multi-chain asset. The project’s native INJ token is now live on Solana as an SPL token, listed on Sunrise, a trading platform connected to Backpack Securities, opening the door for Solana users to trade, provide liquidity, and build with INJ directly on the network.

The SPL token, with mint address 1NJMqVM4PadjuzYmeB7zV7q7DV8oB3ExaQCd9x6KsLz, became operational around September 10-11, 2026, with active trading and liquidity pools appearing by September 17.

What actually happened here

Until now, accessing INJ on Solana meant routing through bridges to Injective’s Cosmos-based Layer 1 blockchain. A native SPL listing changes the math. Solana users can now interact with INJ the same way they would any other token on the network, no bridging required.

The initial on-chain supply for the SPL token sits between 131,000 and 140,000 tokens as of mid-September 2026. That’s a relatively modest float for now, consistent with a controlled rollout rather than a full market debut.

INJ’s broader circulating supply sits near 100 million tokens, with the market price fluctuating between $5 and $6 at the time of the listing. That puts the market cap in the mid-hundreds of millions.

Injective already had interoperability with Solana via existing bridges since its 2021 launch. The difference now is that the relationship is direct and native.

Why Solana, and why now

The Sunrise listing, connected to Backpack Securities, is worth noting because Backpack has been positioning itself at the intersection of regulated and decentralized finance. That alignment fits Injective’s own trajectory: the protocol has been expanding into real-world asset tokenization, with ongoing initiatives involving mortgage records and trade receivables, collectively representing over $1 billion in pilots.

Staking on the native Injective network has also reached an all-time high of 58.8 million INJ tokens. That number matters because it reflects a portion of the supply that is locked and not circulating, which has implications for how much token is actually available for trading on any given platform, including the new Solana listing.

Injective has also introduced USDC support alongside these developments, adding a stable-value option that makes the ecosystem more accessible to traders who want to stay in the Cosmos or Solana-adjacent DeFi world without touching volatile assets on every move.

What this means for traders and builders

The practical effect for Solana-based traders is straightforward: INJ becomes another composable asset in the ecosystem. That means it can be plugged into yield farming strategies, used as collateral in lending protocols, and traded against other Solana-native tokens without the overhead of cross-chain mechanics.

For builders, the listing opens the door to internet markets, Injective’s term for on-chain financial markets that operate without traditional intermediaries. Developers building on Solana can now incorporate INJ into their applications directly, rather than designing around a bridged version of the token.