Injective has announced the launch of INJ 3.0 on the mainnet, following a successful on-chain vote. This marks a new era for the layer-one blockchain, with the team touting it as one of the most deflationary assets in the crypto industry.
The upgrade, known as IIP-392, was approved with the highest percentage of approval for such changes. With the new tokenomic parameters, the inflation rate for INJ will range from 4% to 7%, making it a highly deflationary investment.
This proposal was first introduced in April 2024, with a focus on implementing a controlled reduction of emissions and increasing token scarcity. The changes went live on April 23, allowing the network to quickly adapt to stake fluctuations.
This follows the Vulcan Upgrade that was launched in January of this year. The price of INJ saw a slight increase to $29.15 before dropping to $27.63, and is currently trading at $28.58 with a 24-hour volume of $98.3 million.
To share this news, Injective posted on Twitter stating, “INJ 3.0 has officially launched on the mainnet, making it one of the most deflationary assets in all of crypto. Over the next two years, the supply of INJ will be decreased on an accelerated pace.”
The article also included an image of the mainnet launch, with a link to the official tweet. The post also provided an update on the token’s current price and volume.
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