TechFlow news: Injective has released a tokenomics upgrade that could significantly increase the number of INJ tokens burned weekly. Now, all dApps built on Injective can contribute to the $INJ burn auction without any cap on the amount burned. INJ 2.0 aims to involve every dApp in token burning.
Any dApp built on Injective can now allocate up to 100% of its protocol fees to the auction. Increased participation from various dApps not only expands the potential rewards available for auctions but also enables the burning of significantly larger amounts of $INJ tokens.
Injective's token burn auction collects protocol fees and converts them into collective protocol value. During the weekly burn event, each trading dApp contributes 60% of its trading fees to an auction pool, giving community members the chance to bid for that week’s full proceeds. Fees paid into the auction pool are burned after the auction concludes, thereby reducing the overall token supply.
