INJ is the native utility token of Injective. INJ is a scarce asset that is used for governance, token burn auctions and staking on the PoS network. The burn auctions on Injective are especially unique since 60% of all fees collected from dApps are auctioned off every week via a buy back and burn mechanism. This in turn allows the supply of INJ to dramatically decrease over time. The INJ burn auction is unique in that it helps accrue value for the entire Injective ecosystem. Currently, Injective has the highest token burn ratio in the industry.
The use cases intended for INJ include but are not limited to: protocol governance, dApp value capture, Proof-of-Stake (PoS) security, developer incentives and staking. Further details regarding each of these use cases can be found below.
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