š„ INJ October Community BuyBack wraps up: swap tokens for a basket, and the tokens are burned
Injectiveās October Community BuyBack opened yesterday (October 21 at 9 a.m. ET). The basket officially announced for this round is worth over $245,000 (28,000+ INJ), and it also includes a second Stockdrop, offering tokenized stock rewards.
The mechanics are pretty simple:
š¹ Submit INJ to participate in this round
š¹ Receive a share of a basket made up of ecosystem revenue, proportional to your contribution
š¹ The INJ you submit is permanently burned (the community says this will happen about 7 days later)
So far, more than 7.2 million INJ have been burned in total. The hottest topic in the community this round wasnāt the amount, but āthe bots got kicked out, so real people finally got a spot.ā Some participants also shared screenshots showing estimated returns of around 19.99%.
My take: I really like this design. The revenue ā buyback ā burn cycle is clear, and itās more tangible than simply talking about deflation. But there are two things to keep in mind.
First, this āreturnā is the value of the basket divided by the INJ you burn. Itās essentially an exchange, not deposit interest. The more people participate, the less each person gets, so high returns naturally get competed away.
Second, the basket size depends on ecosystem revenue. Over $240,000 a month is a steady source of support for INJās overall market cap, but itās not enough to drive a rally on its own. What really matters is whether revenue grows from one round to the next.
Have you participated in an INJ Community BuyBack? How did your actual returns compare with the estimate? Letās talk in the comments š
#INJ #Injective #åč“éęÆ #åøå®å¹æåŗ
Injectiveās October Community BuyBack opened yesterday (October 21 at 9 a.m. ET). The basket officially announced for this round is worth over $245,000 (28,000+ INJ), and it also includes a second Stockdrop, offering tokenized stock rewards.
The mechanics are pretty simple:
š¹ Submit INJ to participate in this round
š¹ Receive a share of a basket made up of ecosystem revenue, proportional to your contribution
š¹ The INJ you submit is permanently burned (the community says this will happen about 7 days later)
So far, more than 7.2 million INJ have been burned in total. The hottest topic in the community this round wasnāt the amount, but āthe bots got kicked out, so real people finally got a spot.ā Some participants also shared screenshots showing estimated returns of around 19.99%.
My take: I really like this design. The revenue ā buyback ā burn cycle is clear, and itās more tangible than simply talking about deflation. But there are two things to keep in mind.
First, this āreturnā is the value of the basket divided by the INJ you burn. Itās essentially an exchange, not deposit interest. The more people participate, the less each person gets, so high returns naturally get competed away.
Second, the basket size depends on ecosystem revenue. Over $240,000 a month is a steady source of support for INJās overall market cap, but itās not enough to drive a rally on its own. What really matters is whether revenue grows from one round to the next.
Have you participated in an INJ Community BuyBack? How did your actual returns compare with the estimate? Letās talk in the comments š
#INJ #Injective #åč“éęÆ #åøå®å¹æåŗ