According to the latest reports, Injective users are actively participating in token burning activities. Recently, Injective announced that it burned 12,266 INJ tokens in one day and plans to burn 6 million INJ next week. This action is part of the rapid growth of the Injective ecosystem, especially after the launch of the token economics upgrade proposal INJ 3.0, which has significantly accelerated the pace of token burning auctions.
Additionally, Injective has recovered faster than the market average and the price of its token INJ has also increased. This shows that limiting the circulation of INJ by destroying part of the supply is having a positive impact on the market. Injective aims to be deflationary and have one of the highest burn rates among crypto projects.
These actions demonstrate Injective’s growth and development in the field of decentralized finance and its long-term commitment to building financial blockchains. As more and more tokens are burned, the total staking ratio of the Injective ecosystem reaches an all-time high, further demonstrating the community’s support and trust in the project.