Prop 650: Injective Vulcan Mainnet Upgrade (v1.20.0)

The Vulcan chain upgrade marks one of the most significant releases in Injective's history, advancing the network into the definitive settlement layer for onchain finance. Vulcan brings the core infrastructure for stablecoins, tokenized real world assets, and low cost financial settlement together under a single high performance chain, reinforcing Injective as the foundation for the next generation of global markets. With a fully modernized oracle engine, stronger stablecoin infrastructure, and the lowest transaction costs in crypto, Vulcan positions Injective at the center of the fastest growing categories in the industry, from RWAs and stablecoins to institutional grade onchain finance. This proposal outlines the core features and optimizations of the Vulcan upgrade that propel Injective into this next phase of adoption.

Next Generation Oracle Engine

Vulcan modernizes Injective's oracle module, reducing oracle gas usage by 90% and delivering faster, more efficient price updates across every market. The integration of Pyth Pro alongside a new SEDA oracle type expands institutional grade data coverage and brings greater precision to tokenized real world asset markets.

Unified Oracle Access

A new oracle precompile makes canonical Injective price data directly available to EVM smart contracts, allowing applications across the MultiVM environment to read accurate onchain pricing without external dependencies.

Accelerating Stablecoin Issuance

Vulcan reinforces the foundation for stablecoin issuance on Injective. Stronger token metadata controls raise the integrity standard for every asset minted through the token factory. This also directly pushes forth Injective’s canonical USDC standard.

Expanded Tokenized RWA Markets

The upgraded oracle stack brings institutional grade, low cost pricing to tokenized real world assets, laying the groundwork for a new Morpho integration that extends Injective pricing into onchain credit and lending and widens the range of real world asset markets that can be built on the network.

Lowest Cost Settlement

Vulcan reinforces Injective as the lowest cost network for financial transactions and payments. Execution optimizations across the chain reduce the compute required per transaction, while a series of bridge improvements lower the cost and latency of moving stablecoins and assets across chains. In addition, oracle update fees have been reduced by 90%, leading to far more capital efficient trading infrastructure on the network.

Reinforced Bridge Security

Vulcan introduces additional protective measures across the Injective bridge, including stricter address validation, safer concurrent processing, and removal of the deprecated Hyperlane module. Support for Ledger multisig with EIP712 signatures further expands secure custody and signing options for institutions.

State and Governance Enhancements

This upgrade executes targeted state migrations to set INJ minimum notional parameters, update delegation transfer receivers, and clean residual configuration. These adjustments align the network for the new oracle, stablecoin, and market structure capabilities introduced in Vulcan.

If passed, this proposal will commit the Injective blockchain to halt at a target block height of 169334500 (approximately 14:00 UTC / 10:00 ET on June 4th, 2026) and resume with the v1.20.0 version of the Injective Chain application binary.

Further details on this release version can be found in the GitHub repo here https://github.com/InjectiveFoundation/injective-core/releases

Disclosure: I am a member of the Injective Labs team.