Finance-focused blockchain Injective will stake 50 million of its native Injective (INJ) coin in the near future. In the last month, the number of staked coins grew to about 47 million. 

The total amount of coins staked has risen steadily to 47.7% of INJ’s supply in the past year. The Injective team has promised to stake another 50,000,000 INJ.

How Injective Upgraded for Tokenization

The Injective project offers a 15.96% staking yield. There has also been a steady increase in the number of delegates on the Injective network.

Adding more staked coins and delegates suggests the network is gearing up for a bumper 2024. These efforts, together with Injective’s recent upgrades, may see the network’s usage increase. A proof-of-stake mechanism secures the blockchain.

The total value locked (TVL) on Injective’s decentralized finance marketplace grew a staggering 42% to $49 million in the last 24 hours. Dojoswap, a decentralized exchange on the network, saw an influx of $27 million alone.

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Author: David Thomas

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