Back to News

Injective Introduces Enhancements to its INJ Burn Auction

Twitter icon  •  Published 2 weeks ago  •  Hassan Maishera

The Wormhole team announced via a blog post on Tuesday that it has introduced an enhancement to its INJ burn auction.

The Wormhole team announced via a blog post on Tuesday that it has introduced an enhancement to its INJ burn auction. The new enhancement allows any community member to contribute any asset of their choice to the auction basket.

This deflationary mechanism not only reduces the token supply but also instils a sustainable model for value creation within the ecosystem, the team added.

Injective is an open, interoperable layer-one blockchain for building powerful DeFi applications. Injective uniquely provides plug-and-play financial infrastructure primitives, such as a high-performance on-chain decentralized exchange infrastructure, decentralized bridges, oracles, and a composable smart contract layer with CosmWasm. INJ is trading at $22.88, down by 1% in the last 24 hours.

Next article Oasys Forges Deeper Ties in Japan's Crypto Gaming Realm Through SBI’s NFT Marketplace

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.