Injective community approves proposal to reduce INJ token supply

The Injective (INJ) community has approved a governance proposal to reduce the INJ token supply and transition to a deflationary model, Crypto Briefing reported. The proposal passed with 99.9% of the vote. This allows Injective to implement an on-chain update to its token inflation parameters. The main goal is to permanently limit new INJ issuance while strengthening the burn mechanism to decrease the circulating supply. Injective has reportedly burned approximately 6.85 million INJ since its mainnet launch.