The governance proposal to initiate the next phase of INJ 3.0 has been approved with 99.99% of community members voting IN FAVOR.

Injective has launched a governance proposal for INJ 3.0, marking an important step in upgrading the tokenomics of the ecosystem. The main goal of INJ 3.0 is to significantly reduce the supply of INJ tokens, making it one of the most deflationary assets in the blockchain industry.
Highlights of the INJ 3.0 proposal:
+ Increased deflation rate: INJ 3.0 proposes to increase the deflation rate to 400%, aiming to rapidly and effectively reduce the INJ supply.
+ Flexible monetary policy: The proposal introduces a flexible monetary policy capable of adjusting quickly in response to staking activity. This means that as the amount of INJ being staked increases, the deflation rate will also rise, maintaining balance and safety for the ecosystem.
+ Improved token burn mechanism: INJ 3.0 continues to enhance the token burn mechanism, including collecting, auctioning, and burning weekly network fees, ensuring a continuous and sustainable reduction of INJ supply.
+ Encouraging long-term staking: This proposal also aims to enhance incentives for long-term INJ staking, promoting community participation and strengthening the network.
The INJ 3.0 proposal has received strong support from the Injective community, with the approval of proposal IIP-392, paving the way for the implementation of these improvements.
With INJ 3.0, Injective aims to maintain its growth momentum and innovation, ensuring that INJ tokens retain their leading position in the decentralized finance sector.
$INJ