Approved with 99.89% support, the proposal updates issuance and buyback parameters that govern how INJ is removed from circulation over time.
Injective’s protocol community approved a major tokenomics overhaul on Monday, passing a governance proposal with 99.89% support based on staked voting power.
Injective is a layer-1 blockchain focused on decentralized finance applications, with INJ (INJ) serving as its native token for staking, governance and transaction fees.
The Supply Squeeze proposal (IIP-617) reduces its native token issuance and maintains the network’s buyback-and-burn program, which uses protocol-generated revenue to permanently remove tokens from circulation.
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