One of the biggest goals is to cut down the supply of INJ tokens. It could make it one of the most deflationary assets in all of crypto.
But what does that mean for everyday investors? Let’s know more about Injective 3.0.
What is Injective 3.0?
Injective Protocol is a blockchain platform that focuses on DeFi. This will allows people to trade, borrow, and lend crypto without needing a traditional bank. The platform uses its token called INJ. Now, with Injective 3.0, they’re aiming to reduce the number of INJ tokens in circulation.
In other words, the fewer INJ tokens there are, the more valuable each one can become. By cutting the number of tokens, Injective hopes to make the remaining tokens more valuable for investors.
Starting this week, INJ 3.0 enters its first phase which aims to dramatically reduce the Injective token supply.
This ultimately sets the stage for $INJ to become one of the most deflationary assets in all of crypto. pic.twitter.com/1MhjNnUbkF
— Injective 🥷 (@injective) October 1, 2024
This is a process called deflation. In the world of crypto, many tokens are inflationary, meaning more tokens are created over time. But Injective is going the other way, burning tokens so there are fewer of them.
The first phase of Injective 3.0 focuses on token burns. This means that they will permanently take a certain number of INJ tokens out of circulation. When tokens are burned, they’re sent to a special address where they can’t be used again.
More About Injective
Injective has officially been selected to join the Tokenized Asset Coalition. It is a group focused on speeding up the growth of Real-World Assets (RWAs) and institutional DeFi.
Injective has officially been selected to join the Tokenized Asset Coalition, a group designed to accelerate the growth of RWAs and institutional DeFi.
Injective now enters an exclusive cohort to advance RWA adoption alongside the likes of @coinbase, @RWA_xyz, @circle and more. pic.twitter.com/s1eylg0DM1
— Injective 🥷 (@injective) September 27, 2024
By joining this exclusive group, Injective is now working alongside major players. For example, Coinbase, RWA.xyz, Circle, and others push forward the adoption of RWAs. This partnership highlights Injective’s role in shaping the future of DeFi and its commitment. This will bridge traditional finance with the world of blockchain.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
