A Vote for Ultra-Sound Money
TL;DR
The Injective community voted to approve changes to the INJ 3.0 tokenomics system, with 99.99% approval, moving it towards ultra-sound money.
Full Story
Something cool happened yesterday.
The Injective community voted to approve changes to the INJ 3.0 tokenomics system.
“That doesn’t sound very cool.” - you, probably.
But it is cool (we promise), here’s why:
The proposal plans to make INJ "one of the most deflationary assets in crypto” by making it four times more deflationary over the next two years.
Bitcoin is commonly referred to as 'sound money’ because it has a guaranteed total supply of 21M BTC.
Following this change for INJ, it moves towards being ‘ultra-sound money’, meaning the total supply actually has the potential to decrease over time.
Injective Foundation CEO, Jenna Peterson, said it best: “To guarantee the ecosystem serves long-term as a peer to institutional players, INJ must function as ultrasound money - rewarding early adopters and attracting new participants.”
And it seems the community agrees with a whopping 99.99% approval rate for the proposal.
The fact that a proposal for a change like this can even exist, and can be voted on by the community that it impacts is one of the many things that makes web3 great.
More news like this, please :)