Injective tokenomics upgrade proposal receives 99% approval from voters, voting ends on April 23. The Injective 3.0 proposal aims to reduce the token’s inflation, the project claims it will be “one of the most deflationary assets to date.” INJ price added nearly 1% value on Monday, the token climbed nearly 10% in the past week. Injective , a layer-one blockchain that hosts several decentralized finance applications on its chain is a step closer to a major tokenomics upgrade.
The expected outcomes of the proposal are to make INJ deflationary. The proposal reads, “Injective aims to emulate and eventually surpass the disinflationary characteristics of Bitcoin to become the most deflationary crypto asset.” The proposal focuses on a controlled reduction in the inflation rate by balancing participation incentives and token scarcity, attracting new traders and early adopters to its blockchain network. The inflation rate change parameter, once increased to 0.
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