Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Injective destroyed nearly 4,000 INJ, worth approximately $130,000

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

CointimeCointime2024/01/04 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.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Intesa Sanpaolo Becomes First Italian Bank to Invest in Bitcoin

Intesa Sanpaolo, Italy’s largest banking group, has made a groundbreaking move by purchasing $1 million in Bitcoin

Altcoinbuzz2025/01/15 16:22

Fuse Network Launches Edison to Simplify Web3 Payments

Fuse Network has introduced Edison, an AI-driven agent designed to simplify Web3 payments for businesses

Altcoinbuzz2025/01/15 16:22