Injective community passes IIP-617 with 99.89% support to cut INJ issuance

Injective's community approved governance proposal IIP-617 with 99.89% support, reducing INJ issuance while preserving the network's buyback-and-burn mechanism. The changes are live and aim to accelerate supply removal; roughly 6.85 million INJ have already been burned. INJ fell about 8% that day, with its price down nearly 80% year-on-year and TVL at $18.67 million.