$INJ The community buyback is in full swing, aimed at accelerating the burn of INJ tokens while rewarding loyal ninjas.
This is the only token buyback plan that can not only reduce the supply of INJ but also allow community members to share in the profits on the Injective chain.
The following brief guide will take you through how the buyback mechanism works, how to get whitelisted, and how to start profiting from the burn.
1️⃣ How does the INJ community buyback work?
The community buyback is a monthly on-chain event that anyone can participate in the deflationary mechanism of Injective.
Participants commit to investing INJ tokens, in return, they will receive a proportional share of the profits generated by the Injective ecosystem. The committed INJ tokens will be permanently destroyed, thereby reducing the total supply of INJ.
This process rewards the community while increasing the scarcity of INJ and closely linking long-term value to the success of the ecosystem.
2️⃣ What is the purpose of this plan?
The purpose of upgrading from a burn auction to a community buyback is to replace the outdated winner-takes-all model with a more inclusive model that engages active users of the network.
To ensure that the event can achieve this goal, we have increased the qualification criteria for participation.
3️⃣ How can an address be whitelisted?
Starting in December, the criteria for the INJ community buyback whitelist will be based on users who have interacted on-chain with the Injective ecosystem dApp, the Injective order book module, and Ninja Pass holders. Specifically, we analyzed addresses that interacted on-chain with Injective from September to November.
4️⃣ Why set qualification criteria?
This can achieve several goals:
🔸 Ensure that active community members have priority to participate
🔸 Helps to fend off witch attacks and prevent malicious actors from manipulating community-oriented activities.
5️⃣ How can I ensure that I am eligible to participate in the buyback?
Qualifying for one month does not automatically mean you qualify for the next month. For example, you may meet the qualification criteria for December, but that does not mean you will be selected to participate in January's event. If that were the case, the game opportunities would be obvious.
The best way to maximize your chances of winning is to actively participate in on-chain activities within the Injective ecosystem and continue to be an active member of the Injective community. Community buyback events always prioritize and reward loyal and active members within the community.
6️⃣ Can I still participate in the community buyback event?
Sure! There is still more than a week left this month to participate in the community buyback event.
You can participate on the official website $INJ
