Injective destroyed nearly 4,000 INJ, worth approximately $130,000

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Cointime2024/01/04 04:34

By:Cointime

Injective announced via Twitter that nearly 4,000 INJ tokens worth about $130,000 have been burned through a burning auction today.It is reported that Injective collects 60% of the transaction fees paid by users each week, and distributes the remaining 40% to trading applications built on Injective. There is also a weekly auction that allows community members to bid with INJ to obtain the transaction fee basket collected by Injective for that week. After the bidding ends, the winner pays with INJ to obtain the entire asset basket, and the winning bid will be burned, bringing deflationary pressure to the INJ token supply.

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