{"id":604132,"date":"2024-04-20T02:00:25","date_gmt":"2024-04-20T02:00:25","guid":{"rendered":"https:\/\/uniquehot.com\/?p=604132"},"modified":"2024-04-19T17:12:19","modified_gmt":"2024-04-19T17:12:19","slug":"injective-votes-on-major-upgrade-to-make-inj-even-more-deflationary","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/injective-news-2\/injective-votes-on-major-upgrade-to-make-inj-even-more-deflationary\/","title":{"rendered":"Injective Votes On Major Upgrade To Make INJ Even More Deflationary: Will Prices Recover?"},"content":{"rendered":"<p><span data-preserver-spaces=\"true\">Injective Protocol, a blockchain for decentralized finance (DeFi) and derivatives trading, is\u00a0<\/span><span data-preserver-spaces=\"true\">voting<\/span><span data-preserver-spaces=\"true\">\u00a0on a proposal to significantly reshape the platform&#8217;s tokenomics and introduce a new era dubbed Injective 3.0. <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to Injective, through a <a href=\"https:\/\/hub.injective.network\/proposal\/392\/\" target=\"_blank\" rel=\"noopener nofollow\">post<\/a> on April 19, the proposal is now open for voting via the Injective Hub. For the next four days, stakers and validators are free to participate.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Community Voting On Injective 3.0<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Over the months since launching in 2023, Injective caught the crypto community&#8217;s attention. The team aims to launch a platform for users to launch DeFi-focused protocols in a low-cost, scalable, and yet Ethereum-compatible environment. Though INJ, the native currency of the platform, remains one of the top performers, changes introduced by Injective 3.0 will likely push prices even higher.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to developers, Injective 3.0 aims to make INJ a deflationary asset. A big part of this will be to reduce token minting by controlling the rate of token creation.\u00a0<\/span><span data-preserver-spaces=\"true\">If the community approves what&#8217;s laid out in the proposal, the team will change on-chain parameters to slow down token minting.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/narrative-post-bitcoin-halving\/\" target=\"_blank\" rel=\"noopener \">Crypto Expert Predicts A Narrative Shift Post-Bitcoin Halving<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">At the same time, Injective 3.0 plans to make INJ&#8217;s inflation rate more responsive to staking. Under this model, inflation will slow down as more INJ is locked away via <a href=\"https:\/\/uniquehot.com\/press-releases\/eth-liquid-restaking-protocol-yieldnest-raises-5-2m-in-contribution-round\/\" target=\"_blank\" rel=\"noopener \">staking<\/a>, making the coin scarcer.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Proposers predict the network to be more robust and secure if INJ becomes more deflationary. Usually, token prices of scarce assets tend to be higher. However, it should be noted that changes to tokenomics don&#8217;t immediately lead to favorable price repricing. For prices to soar, there must be utility, driven mainly by community interest.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Millions Of INJ Burned, Will Prices Break $30?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Injective 2.0 is currently live following its activation in August 2023. Under the current regime, there is a token auction burn, where decentralized applications (dapps) running on the platform are free to participate in token burning. According to the Injective Protocol, over 5.9 million INJ have been withdrawn.<\/span><\/p>\n<figure style=\"width: 1787px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.tradingview.com\/x\/pIb8eIkm\/\" rel=\"nofollow\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full\" src=\"https:\/\/www.tradingview.com\/x\/pIb8eIkm\/\" alt=\"Injective price trending downward on the daily chart | Source: INJUSDT on Binance, TradingView\" width=\"1787\" height=\"904\"><\/a><figcaption class=\"wp-caption-text\">Injective price trending downward on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/x\/pIb8eIkm\/\" target=\"_blank\" rel=\"noopener nofollow\">INJUSDT on Binance, TradingView<\/a><\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">So far, INJ remains under pressure, sliding down, shedding 50% from March 2024 highs. The coin has been moving horizontally in the past few trading sessions. However, it is under immense selling and within the April 12 bear bar. <\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-halving-could-catalyzed-100000-price-surge-bitwise-ceo\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Halving Could Catalyzed $100,000 Price Surge: Bitwise CEO<\/a><\/div>\n<p><span data-preserver-spaces=\"true\">The level at $30 is a crucial resistance level. Conversely, if INJ prices dip below this week&#8217;s lows at $23, the coin will slip towards April 13 lows of around $18.<\/span><\/p>\n<div class=\"disclaimer-shortcode\">Feature image from Canva, chart from TradingView<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Injective Protocol, a blockchain for decentralized finance (DeFi) and derivatives trading, is\u00a0voting\u00a0on a proposal to significantly reshape the platform&#8217;s tokenomics and introduce a new era dubbed Injective 3.0. According to Injective, through a post on April 19, the proposal is now open for voting via the Injective Hub. For the next four days, stakers and validators are free to participate.\u00a0 Community Voting On Injective 3.0 Over the months since launching in 2023, Injective caught the crypto community&#8217;s attention. The team aims to launch a platform for users to launch DeFi-focused protocols in a low-cost, scalable, and yet Ethereum-compatible environment. Though INJ, the native currency of the platform, remains one of the top performers, changes introduced by Injective 3.0 will likely push prices even higher. According to developers, Injective 3.0 aims to make INJ a deflationary asset. A big part of this will be to reduce token minting by controlling the rate of token creation.\u00a0If the community approves what&#8217;s laid out in the proposal, the team will change on-chain parameters to slow down token minting.\u00a0 Related Reading: Crypto Expert Predicts A Narrative Shift Post-Bitcoin Halving At the same time, Injective 3.0 plans to make INJ&#8217;s inflation rate more responsive to staking. Under this model, inflation will slow down as more INJ is locked away via staking, making the coin scarcer.\u00a0 Proposers predict the network to be more robust and secure if INJ becomes more deflationary. Usually, token prices of scarce assets tend to be higher. However, it should be noted that changes to tokenomics don&#8217;t immediately lead to favorable price repricing. For prices to soar, there must be utility, driven mainly by community interest. Millions Of INJ Burned, Will Prices Break $30? Injective 2.0 is currently live following its activation in August 2023. Under the current regime, there is a token auction burn, where decentralized applications (dapps) running on the platform are free to participate in token burning. According to the Injective Protocol, over 5.9 million INJ have been withdrawn. So far, INJ remains under pressure, sliding down, shedding 50% from March 2024 highs. The coin has been moving horizontally in the past few trading sessions. However, it is under immense selling and within the April 12 bear bar. Related Reading: Bitcoin Halving Could Catalyzed $100,000 Price Surge: Bitwise CEO The level at $30 is a crucial resistance level. Conversely, if INJ prices dip below this week&#8217;s lows at $23, the coin will slip towards April 13 lows of around $18. Feature image from Canva, chart from TradingView<\/p>\n","protected":false},"author":384,"featured_media":363975,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[92003],"tags":[54512,83630,88126,92128,83629,86854],"class_list":["post-604132","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-injective-news-2","tag-defi","tag-inj","tag-injective","tag-injective-3-0","tag-injective-protocol","tag-injusdt"],"acf":[],"yoast_head":"\n<title>Injective Votes On Major Upgrade To Make INJ Even More Deflationary: Will Prices Recover?<\/title>\n<meta name=\"description\" content=\"Injective Protocol is\u00a0voting\u00a0on a proposal to significantly reshape the platform&#039;s tokenomics and introduce a new era dubbed Injective 3.0\" \/>\n<meta name=\"robots\" content=\"index, follow, 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His specialization in NFTs, blockchain, DeFi, and blockchain news for NewsBTC, combined with a background in mechanical engineering and over a decade of experience in journalism, has allowed him to craft over 10,000 news and feature articles over the past eight years. His diverse range of topics, including technology, Forex, and finance, reflects his comprehensive understanding of the crypto landscape. His technical expertise and analytical skills have been recognized and featured by leading news outlets such as Investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. Notably, he broke key news, including the Ripple and MoneyGram partnership, cementing his position as a thought leader in crypto. The news exploded. Over 100,000 people devoured this meticulously crafted report, from seasoned investors to curious newcomers. His analysis wasn't just dry facts and figures; it crackled with insight, dissecting the implications of the partnership and its potential impact on the future of finance. His deep understanding of the financial markets, technological advancements, and blockchain developments has made him a respected voice in the industry. Dalmas is also the founder of BTC-Pulse, a crypto news site, further demonstrating his commitment to the field. He firmly believes that DeFi and NFTs are here to stay and will continue to drive financial inclusion. Coming from Nairobi, Kenya, it is easy to see the source of his inspiration: Across Africa, millions lack access to traditional banks. Remote villages, limited documentation, and high minimum balances create insurmountable barriers. DeFi, not just Maker or Aave, for example, but think of Bitcoin and USDT, cuts out the middleman. Forget banks with their limitations. Even so, DeFi isn't a magic solution. The continent still struggles with reliable internet access, and educational campaigns highlighting the benefits of this wonderful solution are insufficient. Moreover, even for those interested, understanding DeFi can look like learning a new language. Dalmas is here to help make the tech easy to understand and digestible, even for beginners. The story of DeFi in Africa is still being written. Challenges abound, but the promise of a more inclusive financial future is a powerful motivator. With innovation and collaboration, Dalmas firmly believes that DeFi could become the key to unlocking Africa's full economic potential. This possibility and its immense value motivate Dalmas to continue breaking key DeFi innovations and more across the globe. His engineering background further enhances his ability to deliver well-thought-out pieces that blend technical insight with clear, impactful reporting. Beyond his professional achievements, Dalmas is deeply passionate about technology and politics. Policies drive adoption, and being at the forefront and keeping up with how they evolve is crucial for the sphere to mature. When Dalmas is not closely monitoring the latest crypto events, he can be found in nature, exploring the picturesque countryside, and traveling with his family and friends. His love for adventure and discovery perfectly complements his investigative and reporting skills. 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