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Injective Community Passes Governance Vote to Slash INJ Token Supply

Injective’s community approved the Supply Squeeze proposal (IIP‑617) with 99.89% support, overhauling tokenomics to cut INJ issuance. The change aligns reduced issuance with the existing buy‑back‑and‑burn program, which has already removed about 6.85 million INJ from circulation. Despite an 80% price decline and TVL falling to $18.67 million, the network attracted institutional activity, including ETF filings by Cboe and Canary Capital and new validators such as Deutsche Telekom MMS and Korea University. The community frames the move as a structural shift toward a more deflationary asset.