Injective is a high-speed Layer 1 blockchain designed to support the development of applications, in the Web3 space.
Recently on April 23rd, Injective introduced an update to its tokenomics with the launch of INJ 3.0.
This update aims to reduce the supply of the Injective token making INJ one of the deflationary assets in the blockchain industry and ensuring long-term value for ecosystem growth.
INJ, as the asset of Injective offers utilities including governance functions, protocol fee handling, security features, and more.
INJ 3.0 Update
Step into INJ 3.0 marking a phase in Injectives evolution to cater to its expanding user base and ecosystem requirements.
The community voted overwhelmingly for IIP 392 to implement INJ 3.0. Aligned with Bitcoins price surge this governance proposal for INJ 3.0 aims to reduce INJ supply over two years by adjusting deflation rates based on staking ratios within the network.
Injective has increased its deflation rate by 400% introducing a parameter, for adjusting issuance rates to ensure flexibility and resilience. The platform will monitor staking activity closely. Adjust its policies promptly in response.
When more INJ is staked its deflationary nature will accelerate. This flexibility helps to keep the ecosystem in check and secure.
Injectives goal, with INJ 3.0 is to sustain its growth and drive innovation keeping its core asset a leader, in Web3 finance.
