Injective'S Buyback Fills In 10 Minutes

@injective's monthly Community BuyBack hit a new participation record on Wednesday, filling its $196,000-plus revenue pool in under 10 minutes with more participants than any previous round.

How the Mechanism Works

The program is structured differently from a standard corporate buyback. Participants commit $INJ tokens and in return receive a pro-rata share of the revenue generated across the Injective ecosystem. The INJ exchanged is then permanently burned, reducing the total supply. The Community BuyBack evolved from the original Burn Auction, replacing the winner-take-all model with a simpler, more accessible, and community-driven design.

Revenue is distributed in a basket of tokens that includes $SOL (Es9vMFrzaCERmJfrF4H2FYD4KCoNkY11McCe8BenwNYB) and other ecosystem assets. Four monthly rounds have been completed since November 2025, with burns growing from 36,900 $INJ to nearly 55,000 $INJ per round. Participants have not earned below 20% in any round. Average returns across those four rounds stand at 23.9%.

Everything is public: slot reservations, commitments, burns, and distributions. Participants can verify it all on-chain.

Governance Doubles Down on Deflation

The record-breaking buyback round follows a decisive governance vote earlier in the year. Injective's community approved the IIP-617 Supply Squeeze proposal with 99.89% support, tightening issuance and accelerating supply reduction for the $INJ token. Known as the INJ Supply Squeeze, the upgrade permanently increases the rate of INJ supply reduction by 100%, doubling the network's deflation rate and positioning INJ among the most deflationary assets in crypto.

The Community BuyBack was launched in October 2024 as a monthly on-chain event allowing participants to commit INJ in exchange for a pro-rata share of ecosystem revenue. Over 6.87 million INJ has been permanently removed from circulation to date.

The buyback program works in tandem with the INJ Supply Squeeze upgrade, which aims to make the token one of the most deflationary assets in all of crypto. Community reaction to the governance outcome was largely constructive, with users framing it as a structural shift rather than a short-term market catalyst.

Sources:
Injective: 2026 Community BuyBack Guide
Injective: Introducing the INJ Supply Squeeze
CoinTelegraph: Injective Governance Vote Passes to Accelerate INJ Supply Cuts