Injective token supply: how the INJ cap works
INJ has a fixed maximum supply, and protocol revenue funds recurring burn auctions. Check Injective's official explorer for current supply and burn data.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
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You can read Injective's INJ supply figures yourself on the official explorer, with no account or wallet. This guide explains what the maximum supply means, how protocol revenue funds burn auctions, and where the numbers come from.
What is Injective's token supply?
INJ has a fixed maximum supply written into the protocol, so the network does not mint unlimited new tokens. Protocol revenue funds recurring burn auctions that permanently remove INJ from circulation.
How do you verify INJ supply?
Every supply figure is public. Injective's official explorer is the record the network keeps, and other trackers can lag. Work through these checks in order.
- 1Open the official explorerFind Injective's explorer and check the domain before you search. Lookalike sites can show invented numbers.
- 2Open the INJ token pageSearch for INJ and open its detail page, where the supply figures sit together.
- 3Compare total with circulatingTotal supply counts every INJ the protocol accounts for. Circulating supply counts tokens that trade freely, so it is lower while locked and vesting INJ enters over time.
- 4Check the burn historyThe explorer lists each auction with its date and the amount removed, so you can see the pattern.
What affects INJ supply over time?
The cap holds, but the numbers you read still move as the network runs. The points below explain how staking rewards and governance connect to those figures.
- Staking rewards come from network revenue, such as exchange fees, not from newly minted INJ.
- Governance voting power usually follows staked INJ, so supply changes shift how much say each holder has.
- Burn auctions remove INJ, but other supply changes can offset them, so circulating supply does not fall in a straight line.
Frequently asked questions
The design leans deflationary because no new INJ is minted for staking rewards. Burns remove INJ, but circulating supply can still rise when locked and vesting tokens enter.
It does not change in normal operation. A governance upgrade could theoretically alter the rules.
Injective runs burn auctions weekly. The schedule is part of the protocol and has continued on that cadence.
