INJ · the weekly burn now edges out the staking mint.
INJ is the staking and fee token of Injective, a finance-focused proof-of-stake chain — ~100M circulating, effectively fully unlocked, with a supply that mints for stakers and burns from fees at the same time.
Sell pressure. The chain mints ~1M INJ over the next 90 days to pay stakers — a low rate, since most of the supply is staked.
Buy pressure. A weekly burn auction plus monthly buyback destroy roughly 1.15M INJ over the same period, funded by protocol fees.
Net. About −0.15% off the market over 90 days — supply edging down, as the burn just outpaces the mint.
- July Community BuyBack burn~55KJul 13 2026 · removed from market
- August Community BuyBack burn~55KAug 13 2026 · removed from market
- September Community BuyBack burn~55KSep 13 2026 · removed from market
New INJ is minted every block to pay stakers, on a dynamic rate that floats with how much of the supply is staked. With about 58% staked the mint runs low — roughly 1M coins over the next 90 days, all of it re-bonded rather than sold.
Every original team, seed, private-sale and ecosystem allocation has finished vesting, so INJ is effectively fully circulating and no cliff reaches the market.
No public evidence of a discretionary treasury release in the window — monitored. The token is fully circulating with no remaining scheduled unlock pool.
No bankruptcy estate or court-ordered distribution applies to INJ.
Every week the protocol auctions off about 60% of the fees earned across its apps, and the winning bid is paid in INJ that is then permanently burned — roughly 1M coins destroyed over 90 days, the single biggest force on the token.
On top of the weekly auction, a monthly Community BuyBack round buys and burns INJ funded by protocol revenue — recent rounds grew from about 37K to 55K coins, roughly 0.15M over 90 days, after IIP-617 raised the deflation rate.
No discretionary open-market buying by the project outside the published burn program — monitored. A public-company treasury did open a large INJ position and stake it in this window, but that is a third-party purchase, not a protocol mechanism.
No new protocol-run multi-year lock or escrow announced in the window — monitored.
My research. My portfolio. Free.
Deep research weekly. My real holdings monthly.