TL; DR
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The Injective community has voted 99.99% in favor of approving changes to the INJ 3.0 tokenomics system, moving it toward ultra-sound money.
Full story
Something nice happened yesterday.
The Injective community has voted to approve changes to the INJ 3.0 tokenomics system.
“That doesn’t sound so cool.” – you probably.
But it is cool (we promise), this is 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 21 million BTC.
Following this change for INJ, it is moving towards ‘ultra-sound money’, meaning the total supply actually has the potential to decrease after a while.
Jenna Peterson, CEO of the Injective Foundation, said it best: “To ensure that the ecosystem can serve as an equal partner to institutional players over the long term, INJ must function like ultrasonic money: rewarding early adopters and attracting new participants.”
And it seems the community is in agreement with a whopping 99.99% approval rate for the proposal.
The fact that a proposed change like this can even exist, and be voted on by the community it impacts, is one of the many things that makes web3 great.
More news like this please 🙂