In accordance with CoinJournal, Injective (INJ) has completed its first community buyback event, burning 6.78 million INJ tokens valued at approximately $32.28 million. The event, which began on October 23, saw the actual token burn occur on October 27. The platform's mechanism allows users to participate in the deflationary process by committing INJ in exchange for a share of the Injective ecosystem's revenue, with the tokens then permanently burned. The next buyback is scheduled for November.
Injective Completes $32M Community Buyback, Burns 6.78M INJ Tokens
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