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Injective Protocol has announced the launch of the exclusive stage of its $INJ 3.0 project. The release denotes an important development for Injective Protocol following 99.99% support from the community. The platform disclosed this development on its official social media account.
The governance proposal to begin the next phase of $INJ 3.0 has passed with 99.99% of community members voting YES.
— Injective 🥷 (@injective) January 5, 2025
The new chapter of INJ 3.0 is live now to dramatically reduce the token supply, enabling INJ to become one of the most deflationary assets over time. pic.twitter.com/YJNCQsIiD7
Injective Releases Next Part of $INJ 3.0 as 99.99% Community Participants Support It
Injective Protocol asserted that the release of the next part of $INJ 3.0 reflects a significant community confidence. In this respect, up to 99.99% of community members have supported the proposal for this phase. Additionally, the development also highlights a noteworthy move in the platform’s efforts to advance the DeFi sector. The new $INJ 3.0 phase pays a considerable attention to decreasing the token supply. This places the $INJ token of Injective Protocol among the most deflationary digital assets in the cryptocurrency market. Apart from this, it also improves the value proposition for those who hold the $INJ token.
The crypto entities achieve token deflation via mechanisms such as economic incentives that discard tokens from the overall circulation. In addition to this, the token burns and fee allocations are also the methods for this purpose. The respective deflationary strategy focuses on solidifying the market dynamics of $INJ. Along with that, it also guarantees long-term sustainability for the whole ecosystem. The $INJ 3.0 initiative goes beyond just an upgrade in the tokenomics. It signifies a unique chapter for the role of Injective Protocol in forming DeFi realm’s future.
Initiative Aims at Enhancing Token Scarcity, Community Empowerment, and Broader Ecosystem Growth
According to Injective Protocol, the most notable goals of the $INJ 3.0 initiative include greater token scarcity, community empowerment, and the wider ecosystem growth. With the release of this initiative’s next chapter, the platform sets a precedent for the blockchain projects focusing on creating a balance between economic sustainability and innovation.