Injective Launches Community Buyback Program to Reduce Token Supply

Injective has launched a community-driven buyback program, aiming to decrease its token supply. Through this initiative, eligible members can contribute INJ tokens to a dedicated fund for purchasing and burning these tokens. This reduction in circulating supply will be rewarded with 10% of the Injective ecosystem’s revenue. This move coincides with recent data indicating an uptick in activity on the network: DeFiLlama reveals a notable 14% surge in total value locked (TVL) over the last 24 hours, suggesting increased investment in Injective. However, INJ token prices saw a decline of roughly 8% during this same period.