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Injective Submits a Governance Proposal to Reduce $INJ Supply

Twitter icon  •  Published 1 month ago  •  Hassan Maishera

The Injective team announced via X on Friday that it has submitted a governance proposal to dynamically reduce the $INJ supply.

The Injective team announced via X on Friday that it has submitted a governance proposal to dynamically reduce the $INJ supply. If the proposal passes, INJ will continue to become one of the most deflationary assets to date. The team added that INJ stakers and validators have four days to vote for IIP-429.

Injective is an open, interoperable layer-one blockchain for building powerful DeFi applications. Injective uniquely provides plug-and-play financial infrastructure primitives, such as a high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm. INJ is trading at $16.60, down 3% in the last 24 hours.

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Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.