Injective’s protocol community approved a tokenomics overhaul with 99.89% support, reducing token issuance and increasing buyback-and-burn program. About 6.85 million INJ tokens have been burned, creating a deflationary asset. INJ’s market price has fallen 80% in a year, down 90% from all-time high. Total value locked is at $18.67 million.

Despite price declines, Injective attracted institutional engagement with ETF filings and new validators. Cboe and Canary Capital filed for staked INJ ETFs, while Deutsche Telekom MMS and Korea University joined as validators. Total value locked is down from peaks but remains active in expanding offerings.

Read more at Cointelegraph: Injective Governance Vote Passes to Accelerate INJ Supply Cuts