Injective (INJ)
Unlock Schedule
Injective (INJ) Token Unlock & Vesting Schedule
The unlock chart above provides a clear visual overview of the Injective (INJ) token release schedule, showing when and how tokens enter circulation across investor, team, treasury, and community allocations. Understanding these tokenomics dynamics is critical for evaluating potential supply pressure, inflation impact, and market liquidity over time — key factors that can influence INJ price performance.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
The INJ token is the backbone of “Injective tokenomics,” with several roles:
- Security and staking: INJ is staked by validators and delegators to secure the chain. Staking rewards are funded by inflation parameters that dynamically adjust based on network staking rates and governance rules. An unbonding period of 21 days applies when unstaking. (docs.injective.network)
- Governance: INJ holders vote on proposals, including parameters for the exchange, auction, oracle, and other modules. (docs.injective.network)
- Gas and medium of exchange: All on‑chain fees are paid in INJ; NFTs, dApp fees, and collateral uses can also be denominated in INJ. (docs.injective.network)
- dApp incentives: Front‑ends and exchanges that source orders into the shared book receive 40% of trading fees from those orders, incentivizing user acquisition and better UX. (docs.injective.network)
- Value accrual and burn: Historically, 60% of protocol fees were routed into an on‑chain auction where participants bid with INJ to purchase the fee basket; the winning INJ is burned. The mechanism has evolved into a broader “Community Burn,” a recurring on‑chain event where contributors commit INJ pro‑rata for a share of ecosystem revenue, and all committed INJ is burned—reducing supply. (docs.injective.network)
Inflation/deflation dynamics
Injective’s monetary policy aims to balance security incentives with deflationary pressure. Governance has approved changes under “INJ 3.0” to tighten inflation bounds over time and increase responsiveness to staking activity, with the project communicating a goal of significantly boosting net deflation when network usage is strong. In short, as on‑chain activity and burns rise—and as more INJ is staked—supply pressure can tilt deflationary. (blog.injective.com)
Assumptions
- Supply is dynamic; both minting (PoS rewards) and periodic burns occur.
Injective’s mint module mints block rewards while the burn auction/community burn permanently destroys INJ; therefore total supply is not a fixed cap.
- Genesis vesting dates use the 21st day-of-month to align with TGE (2020-10-21).
Official vesting spec defines cliffs and cadence; exact calendar days are modeled consistently off TGE for monthly/quarterly/half-year tranches.
- PoS minted-to-date estimated at ~12.855643M INJ through 2025-10-11.
Computed from on-chain supply metrics and cumulative burns reported by official/validator sources; apportioned across pre- and post-INJ 3.0 periods proportionally to time and policy bounds. Actual per-month mint varies with bonded ratio.
- Post–May 2024 supply-rate bounds follow INJ 3.0 quarterly tightening schedule.
Tokenomics paper specifies quarterly upper/lower bound reductions through Q1 2026 and an increased Supply Rate Change parameter.
- Community and ecosystem incentive distributions (e.g., OLP) are funded from already-unlocked allocations.
Governance disburses INJ from the community pool/ecosystem funds; these do not create new supply beyond PoS minting.
- 1. https://injective.com/INJ_Tokenomics_Paper.pdf
- 2. https://www.binance.com/ro/research/projects/injective
- 3. https://www.binance.com/en-IN/support/announcement/binance-completes-the-injective-protocol-lottery-draw-and-will-open-trading-for-inj-34b3a33d39f84f3abc08450acffdc672
- 4. https://docs.injective.network/developers-native/core/mint
- 5. https://injective.valopers.com/parameters
- 6. https://injective.com/blog/injective-burn-auction-launch/
- 7. https://blog.injective.com/inj-burn-2-0/
- 8. https://docs.ts.injective.network/core-modules-and-examples/auction
- 9. https://blog.injective.com/en/the-largest-inj-token-burn-in-history/
- 10. https://everstake.one/crypto-reports/injective-staking-insights-and-analysis-2024-annual-report
- 11. https://everstake.one/crypto-reports/injective-staking-insights-and-analysis-first-half-of-2025
- 12. https://observatory.zone/injective/governance/499
- 13. https://staking-explorer.com/tokenomics/injective
Allocations
Description
#117
Injective is a layer 1 blockchain that enables fast, secure, and decentralized financial applications. Injective supports smart contracts, interoperability, and customized DeFi solutions backed by a global DAO.
| Sector: | Perpetuals |
| Blockchain: | Other L1 |