#injective $INJ $INJ — is a cryptocurrency token of the Injective protocol, which represents a decentralized financial platform. Tokens are used for governance, staking, and participation in token burn auctions on the network. The current price of INJ is approximately $6.46, having decreased over the past week.

Token and Network Description

Purpose: $INJ — is a scarce asset used for governance and other functions within the network.

Financial Blockchain: Injective is a blockchain designed to support decentralized financial applications (DeFi).

Usage: Token holders can participate in the governance of the protocol as well as in token burn auctions, where 60% of fees from DeFi applications are used to buy back and burn tokens.

Technology: The network is built on the Cosmos blockchain and is a layer 2 application offering features such as cross-chain margin trading and derivatives, reports Kraken.