INJ TOKEN

A Dip Into Injective Token

INJ is Injective's native staking token, allowing holders to govern and decide the future of the protocol. The token was released through Binance Launchpad, which marked its 16th project.

Here are some details from the October 2020 sale:

-->>Hard Cap: $3.6 million

-->Tokens allocated to Binance Launchpad: 9 million INJ, representing 9% of the total supply

-->Public sale price: 40 cents per INJ

-->Token sale format: Lottery

-->Max number of winning lottery : 18,000

-->Allocation Per Winning Ticket: $200 or 500 INJ

-->Supported sessions: BNB only

INJ Tokenomics

In addition to being used for governance and incentivize exchange DApps, INJ is also used for a few other purposes, including:

Proof-of-stake security: As noted, the Injective PoS blockchain is governed by its native INJ token. The initial supply is 100 million tokens and should increase over time through block rewards. The target INJ inflation is 7% at genesis and will decrease over time to 2%. Gradually, the total supply of INJ may be lower than the initial supply due to its deflationary mechanism.

Collateral backing for derivatives: INJ will be utilized as an alternative to stablecoins as margin and collateral for Injective derivatives markets. In some derivative markets, INJ can also be used as collateral backing or insurance pool staking where stakers can earn interest on their locked tokens.

INJ Token Performance

In November 2020, a month after its debut, the token was trading around the $0.75 level, giving Launchpad buyers a roughly 100% profit.

The price started climbing further, and by December 2020, it was around $1.50. Taking profits then may have been tempting, but those who did probably kicked themselves because the token soared to $16.8 on Feb. 19, 2021.

Many people may have sold at that level, and in the following month, and the price pulled back but never dipped below $10. Instead, INJ resumed its rally, reaching an all-time high of $24.89 on April 30, 2021.

$INJ is currently sitting at $14 as of the time of writing this article

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