TechFlow news: Injective announced in a tweet today that it has burned nearly 4,000 INJ tokens—worth approximately $130,000—through its auction-burning mechanism.
According to the report, Injective collects 60% of transaction fees paid by users each week, while the remaining 40% is distributed to exchange applications built on Injective. Each week, an auction is held allowing community members to bid with INJ for the basket of transaction fees collected by Injective during that week. After the auction concludes, the winning bidder pays in INJ to receive the entire basket of assets, and the winning bid amount is then burned, creating deflationary pressure on the INJ token supply.
Add to Favorites
Share to Social Media
