Injective’s Major Tokenomic Upgrade: INJ 2.0

Injective, a decentralized cryptocurrency exchange, has recently announced its major release, INJ 2.0. It is described as the “largest tokenomic upgrade”, and anticipated to dramatically increase the amount of INJ tokens being burned on a weekly basis.

Main Changes Brought by INJ 2.0

This significant update has few primary implications:

• All decentralized applications (dApps) built within the Injective ecosystem are now capable of contributing toward INJ token burning. This provides a streamlined, inclusive participation of more players in the burning process, enhancing the efficiency of the procedure.
• There are no caps set on the total amount of INJ that could be burned via these dApps. Thereby, facilitating an unlimited scope to influence the circulating supply of INJ tokens.
• By enabling all dApps to partake in the token burning process, INJ 2.0 hopes to offer a more integrated ecosystem powered by Injective.

Intended Impact of INJ 2.0

“Injective is releasing its largest tokenomic upgrade ever, which can significantly increase the amount of INJ burned weekly.”

“Now all dApps built on Injective can contribute to the INJ burning auction with no limits on how much they can burn.”

“INJ 2.0 aims to allow all dApps to participate in burns.”

“INJ 2.0 marks an important milestone in the evolution of finance by creating a more integrated ecosystem powered by Injective.”

Announcement on Twitter

Injective today is releasing its largest tokenomics upgrade yet which can dramatically increase the amount of INJ burned weekly.

Now all dApps built on Injective can contribute to the $INJ burn auction with no limit on how much they can burn.https://t.co/VCoc2lSjaA

— Injective 🥷 (@Injective_) August 16, 2023

Effects on INJ Token Price

Soon after the announcement about INJ 2.0, there was a notable rise in the market price of INJ tokens. The price surged by approximately 4%, reaching $7.36. At present, INJ continues to trade at a value near $7.18.

Disclaimer

It is critical to note that the above information does not serve as financial guidance for your investment decisions.
Always do thorough research and consult with a professional before investing in any cryptocurrency.