Injective has burned over 40,000 $INJ again on the 26th. Based on this pace, the total burned amount by the first half of 2026 could reach 7 million tokens.

What’s more noteworthy is that this burn was conducted through community buyback rather than a direct auction burn. After a careful review of the details of this mechanism, it indeed reflects some core Web3 principles.

The advantage of community buyback over traditional auction burns is that it allows ecosystem participants to gain real benefits from on-chain growth. The process is actually simple: first, grant whitelist eligibility to active on-chain addresses that have used the dApp; this step directly prevents sybil attacks and bot farming; second, genuine users with whitelist access can participate in buyback with $INJ; third, these tokens are directly burned, reducing the circulating supply; finally, the real revenue generated on the Injective chain is distributed to these genuine on-chain users.

This approach is essentially a three-way win — users convert on-chain activity into long-term equity holdings, $INJ continues to become more scarce through ongoing deflation, and more people are attracted to become genuine participants in the ecosystem. In the context of a bear market, this can also be seen as a good arbitrage strategy.