TL;DR
- Injective is moving toward approval of proposal 701, having reached nearly 99% affirmative votes in its on-chain governance.
- If approved before September 22, the network will halt at block 184394000 on September 24 to execute the Meridian upgrade.
- The upgrade introduces regulated asset issuance on the EVM, private RFQ flows, and oracle improvements for tokenized markets.
The Injective network is approaching the close of the vote on proposal 701 with near-unanimous support: approximately 99% of the votes recorded so far are affirmative.
The proposal, called the Meridian upgrade, was submitted on September 18 by a member of the Injective Labs team and represents the next major leap in the protocol’s evolution. If the vote concludes favorably on September 22 at 17:02 UTC, the chain will halt at block 184394000 on September 24 at around 15:00 UTC and will resume operations under version 1.20.4 of the Injective Chain binary.
Regulated Assets and MultiVM Capabilities for Injective
The technical core of the upgrade is the addition of support for regulated token deployments within Injective’s EVM. This allows issuers to integrate compliance and transfer requirements directly into tokenized products, without relying on external layers.
Injective Labs presents this change as a foundation designed specifically for the launch of real-world assets, tokenized equities, and financial instruments that can be fully issued, traded, and settled on-chain. The new MultiVM capabilities ensure that those asset controls remain consistent across both the network’s native and EVM environments.
An exchange precompile also grants EVM applications more direct access to the protocol’s liquidity and settlement layer. The upgrade is the next stage of the network’s work on tokenization of real-world assets, including Pineapple Financial‘s initiative to tokenize $1 billion in mortgage records.
Institutional Privacy and More Robust Oracles
Meridian also lays the groundwork for privacy-oriented infrastructure through the introduction of early trials of private request-for-quote transaction flows, known as private RFQs. These controlled environments are designed to allow institutions to access on-chain liquidity without exposing sensitive order information or trading strategies, as a preview of a broader privacy suite planned for a later upgrade.
The proposal also strengthens market execution, risk controls, transaction signing, and oracle processing, introducing improvements in relay prioritization and validation aimed at delivering more reliable pricing for tokenized equities, real-world assets, and derivatives.
The voting period closes on September 22. The current approval figure excludes abstentions and may change before the deadline. September 24 is not a confirmed date but a target block that only becomes committed once the vote concludes favorably.
Injective is strengthening its positioning in tokenized markets, in parallel with the amendment filed by 21Shares with the SEC to launch a spot ETF on the network’s native asset.
