#injective $INJ INJ is the native utility token of Injective, a Layer-1 blockchain built for decentralized finance (DeFi) applications. It enables staking to secure the network, and token holders can delegate or run validator nodes for rewards. INJ also serves as the governance token — holders vote on protocol upgrades, new markets, and other key decisions. Additionally, INJ is used to pay transaction and exchange fees, and a portion of fees are regularly burned via a buy-back-and-burn auction — giving INJ deflationary pressure and potentially increasing scarcity over time. Thus, INJ powers staking, governance, fees, and value accrual across the Injective ecosystem.