With the official release of INJ 3.0, Injective is rolling out its largest tokenomics upgrade to date. This update significantly reduces the supply of Injective’s native token, making INJ one of the most deflationary assets in the blockchain industry, injecting long-term value into the development of the ecosystem.
background
INJ is Injective's native asset and the cornerstone of the ecosystem, with many important empowerments covering governance, protocol fees, and security mechanisms. Its versatility and indispensability within the Injective network makes it a critical asset in driving network growth and functionality.
Unique utility: INJ’s utility is always very unique, with features that cannot be replaced by any other asset. For example, Injective’s burn auction, which collects, auctions, and burns accumulated network fees on a weekly basis, is widely praised as a distinctive feature of the INJ token economy.
In the previous INJ 2.0 update, this mechanism was expanded to include all dApp network fees, capturing protocol value from ecosystem growth. In turn, burn auction activity surged, resulting in a significant increase in the amount of INJ burned each week.
growth demand
As Injective continued to rapidly attract new users and dApps, the need for further enhancements became apparent in order to accommodate the growing ecosystem. This is the only way to cover and embrace the latest developments as they grow.
INJ 3.0 Update: INJ 3.0 is the next revolutionary step in Injective’s journey to meet the evolving needs of its expanding user base and ecosystem.
The Injective community voted overwhelmingly in support of IIP-392 to officially launch INJ 3.0. On the occasion of Bitcoin’s halving, the INJ 3.0 governance proposal aims to reduce the supply of INJ over the next two years and accelerate the rate of deflation based on the proportion of INJ staked on the chain.
official statement
Jenna Peterson, CEO of the Injective Foundation, said: “This is the next stage of Injective’s development; we have seen billions of dollars of capital flow in since its inception. To ensure that the ecosystem can serve institutional participants in the long term, INJ must Playing the role of Ultrasound Money - rewarding early adopters and attracting new participants. As these important updates are approved by the broader Injective community, INJ 3.0 aims to move INJ beyond the sound currency properties of Bitcoin."
Increased deflation: Injective increased deflation by 400%. Specific token supply rate change parameters ensure Injective remains adaptable and resilient. Injective will adjust its monetary policy in real time, reacting quickly to fluctuations in staking activity. Therefore, as more INJ is invested, the deflationary properties will increase faster. This degree of flexibility maintains balance and security within the ecosystem.
supply reduction schedule
The supply reduction schedule for INJ 3.0 will follow an accelerated but tightly controlled reduction rate schedule to protect INJ from the effects of inflation.
With INJ 3.0, Injective aims to continue its trajectory of growth and innovation, ensuring its native assets remain at the forefront of Web3 finance.
About Injective: Injective is an interoperable Layer-1 blockchain that provides developers with the out-of-the-box modules they need to create mainstream applications for building powerful DeFi and Web3 applications. INJ is Injective’s native asset, powering the Injective blockchain and its rapidly growing ecosystem. Injective is incubated by Binance and backed by Pantera Capital and Jump Crypto.
Injective’s vision
Injective's vision is to become the backbone of the next generation of financial infrastructure, providing seamless financial services to users around the world through its innovative technology and strong community support. With the launch of INJ 3.0, Injective is moving towards this goal and will continue to lead the forefront of blockchain technology.
The power of community: Injective’s success is inseparable from its strong community support. From developers to users, every participant is contributing to the development of Injective. This community-driven model not only promotes technological innovation, but also provides a solid foundation for the sustainable development of the ecosystem.
Future Outlook: In the future, Injective will continue to work on technological innovation and ecosystem expansion. As more dApps and users join, Injective’s ecosystem will become richer and more diverse. The launch of INJ 3.0 is just the beginning, and more innovations and breakthroughs will be gradually revealed in the days to come.
Summarize
The launch of INJ 3.0 marks a major milestone for the Injective ecosystem. Through this revolutionary upgrade, INJ has not only become one of the most deflationary assets in the blockchain industry, but also laid a solid foundation for the long-term development of the ecosystem. As Injective continues its journey of growth and innovation, we can expect many more breakthroughs and achievements.