Injective Just Made INJ Rarer Than a Sincere Compliment at a Dinner Party

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One is not to be deflationary, darling, without a certain flair for the dramatic-and Injective, bless its probabilistic heart, has once again flung itself upon the altar of scarcity with shimmering recklessness.

In a move so resoundingly popular it nearly achieved the approval ratings of a well-placed quip, a staggering 99.89% of Injective’s community voted for IIP-617-affectionately known as the “INJ Supply Squeeze”-because, evidently, making a token vanish like a polite guest after midnight wasn’t enough. No, now they’re doing it faster. Double the burn, half the mercy.

The INJ Supply Squeeze: Or, How to Disappear Nearly 7 Million Tokens and Still Be Undervalued

Since bursting onto the mainnet stage in 2021 with the confidence of a debutante who’s already memorized the guest list, Injective has been busily engaged in the art of token annihilation. First came the burns-ritualistic, frequent, and yet syntactically polite. Then, in what can only be described as financial self-love, October 2025 saw the launch of the Community BuyBack mechanism: a deliciously circular endeavor wherein the project buys back its own tokens and promptly sets them on fire, metaphorically speaking. (Though one suspects a ceremonial lighter might add to the ambiance.)

So far, 6.85 million INJ tokens have been escorted to the great beyond-permanently banned from circulating, staking, or making inane small talk at crypto conferences.

And yet, on January 15th, Injective’s architects leaned into the absurdity and introduced IIP-617, which-contrary to what its name might suggest-does not increase supply. Oh no. It increases the rate at which INJ is removed from supply. The “Squeeze” is thus not a liquidity crisis, but a carefully orchestrated token strangulation. Do not adjust your wallet.

The protocol insists this new measure will waltz elegantly alongside the BuyBacks, creating what they euphemistically call a “structurally enhanced deflationary model.” In layman’s terms: they’re making INJ rarer than honesty in a land of venture capitalists.

But Does Anyone Care? Or: The Price Remains Unimpressed

Eric Chen, co-founder and presumably part-time poet of deflation, waxed lyrical about the new mechanism, declaring it “a decisive step” in Injective’s “monetary design.” One dares say he said it with a monocle. According to him, the accelerated deflation and buybacks will “reinforce scarcity” and position INJ as a “long-term deflationary asset,” which sounds suspiciously like a cryptocurrency version of “I’ll lose weight eventually, just you wait.”

“By doubling the rate of deflation and pairing it with systematic tokens buybacks, Injective is reinforcing its scarcity and positioning INJ as a long term deflationary asset aligned with the growth of the ecosystem.”

And while few would argue with the aesthetics of scarcity-after all, exclusivity is the last true luxury-INJ continues to trade at a modest $4.64, a price so unassuming it might as well be wearing a frayed cardigan and apologizing for existing. Despite all the flannel of deflation, the market remains as cold as a banker’s handshake in winter.

Perhaps salvation lies not in burn rates, but in spectacle: the staked exchange-traded fund (ETF) business looms on the horizon like a hopeful suitor with a trust fund. Should that bloom, INJ might finally get the standing ovation it’s been rehearsing in the mirror.

Till then, it burns brighter than it trades-romantic, tragic, and utterly invisible to the crowd.

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2026-01-21 11:15