injectivebuyback

Community BuyBack - heard it already looks rich and bullish

That is an extremely noteworthy mechanism of the Injective ecosystem preparing to return in July

Unlike the usual token burn model, Injective allows holders to commit $INJ to participate in the BuyBack, then:

- The entire committed amount of INJ will be permanently burned
- Participants receive rewards from on-chain revenue of the ecosystem 💰

A few notable figures:
• The July BuyBack fund has already surpassed 246,000 USD
• June before that set a record of over 315,000 USD
• More than 7.1 million INJ have been removed from the circulating supply since this mechanism went live
This Buyback and burn is not just simply about reducing token supply. It’s turning INJ holders into people who directly benefit from the growth of the entire ecosystem. so deliciousnnn

A pretty strong tokenomics mechanism, and it’s a point I see Injective doing very well in building long-term value for INJ. 🥷
#InjectiveBuyBack