Token

Bold

Coin

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/inj-coin-takes-bold-steps-to-reverse-token-inflation/" data-wpel-link="internal">INJ Coin Takes Bold Steps to Reverse Token Inflation</a> 
2024 marks a significant year for altcoins, with one in particular now acting to reverse token inflation. The team behind INJ Coin has announced its 3.0 update and shared the details. How will this update benefit INJ Coin investors? What are the details of the announcement? 
<h2 style="text-align: justify" id="why-is-inj-coin-rising">Why is INJ Coin Rising?</h2> 
Injective team launched INJ 2.0 in August 2023, introducing auctions for token burns. This setup has led to larger amounts of INJ being burned weekly. To date, approximately 5.9 million INJ have been burned, which roughly translates to about 190 million dollars at current prices. 
<img loading="lazy" loading="lazy" decoding="async" class="wp-image-340382 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/INJ-Coin-3-0.jpg" alt="" width="994" height="559"> 
INJ 3.0 is a step further in tightening the supply. Inspired by the deflationary nature of <a href="https://en.coin-turk.com/expert-analyst-issues-vital-warnings-to-bitcoin-investors/" data-wpel-link="internal">Bitcoin</a> halving events, this proposal aims to reduce the INJ token inflation rate over two years and simultaneously increase interest in staking activities. 
“The INJ supply reduction program will directly decrease the INJ supply and also place INJ one step closer to becoming the most deflationary crypto asset through an accelerated timeline,” states the team. 
Voting on the proposal is expected to commence by April 19, while the community discusses and finalizes the proposal beforehand. The current lower limit for annual token inflation reduction is set at 5%, with a proposal to uniformly reduce it by 25% every three months over a two-year period. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/inj-coin-takes-bold-steps-to-reverse-token-inflation/" data-wpel-link="internal">INJ Coin Takes Bold Steps to Reverse Token Inflation</a></h5>

INJ Coin Takes Bold Steps to Reverse Token Inflation

Table of Contents

COINTURK NEWS

Other articles published on Apr 15, 2024

Bitcoin miners could dump $5B in BTC after halving: 10x Research

U.S. and India’s friendship gets serious – Where does this leave BRICS?

Significant Moves in the Crypto Market: Spotlight on DWF Labs and Bitcoin’s Resurgence

Ethereum’s Vitalik Buterin Makes Waves with 100 ETH Railgun Deposit

Bitcoin Dominance Climbs as Altcoins Struggle to Keep Up

Insights into Litecoin’s Recent Price Dynamics and Future Predictions

Join our free newsletter for daily crypto updates!