Injective has opened a governance vote on Veyra, a mainnet upgrade submitted as proposal IIP-717. ChainCatcher reports that it is the network’s last major upgrade in 2026. $INJ stakers have until Monday to vote. If approved, the upgrade is targeted to activate on November 24.
What Veyra Would Change
Veyra is designed to allow assets to move between Injective’s EVM environment and other connected chains. It would also introduce request-for-quote (RFQ) tools, allowing large traders to seek prices for sizeable deals instead of placing orders directly on an open market.
ChainCatcher reports that the upgrade also aims to introduce institutional-grade infrastructure for real-world assets (RWAs) and expand enterprise gateways. The report also says Veyra lays the groundwork for native privacy through CypherOS.
Injective’s governance model is weighted by stake. In its coverage of an earlier upgrade vote, Altcoin Reporter said only staked $INJ can vote, with Yes, No, No with Veto and Abstain as the options. A proposal passes if it reaches quorum and more than 50% of votes, excluding abstentions, are in favour. If No with Veto receives more than 33% of votes, the proposal is defeated.
CypherOS and the Recent Upgrade Cadence
Veyra builds toward CypherOS, a privacy platform Injective first previewed in October. Crypto Briefing describes CypherOS as a native on-chain privacy layer for confidential trading, shielded transactions and private RFQ flows. The report noted that, as of early October 2026, Injective had not disclosed the platform’s full architecture.
Veyra follows the Meridian upgrade, which went live on September 24, 2026, according to CoinGape. The publication reports that Meridian (IIP-701) passed governance with roughly 99% staker support. It also says that, at the time of its coverage, no public CypherOS architecture, cryptography specification or audit report had been released.
For $INJ holders, the vote is the next step in a series of network upgrades that have moved Injective toward institutional trading, tokenised assets and privacy features. The outcome will be known when voting closes on Monday.
