Odaily News: Injective has announced an upgrade to its token economics, significantly increasing the weekly burn rate of INJ. All dApps built on the Injective platform can contribute to the INJ burn auction, with no limitation on the burn fees. This will make the on-chain economy driven by INJ even more powerful, as the value from the burn auction can now be derived from all dApps within the Injective ecosystem.



The INJ burn auction will collect protocol fees and convert them into collective value for the protocol. In the weekly burn event, each trading dApp will contribute 60% of its transaction fees to the auction basket, providing an opportunity for community members to compete for the complete weekly revenue through bidding. The fees paid to the auction basket will be burned after the auction ends, thereby reducing the overall token supply. dApps can also increase the percentage of fees allocated for burning, even up to 100%.