In 2024, altcoins are making significant progress, with one in particular taking bold steps to combat token inflation. The team behind INJ Coin has unveiled its 3.0 update, which aims to reduce the token inflation rate and increase interest in staking activities. This update promises to benefit INJ Coin investors and marks a momentous occasion in the coin's journey.

The rise of INJ Coin can be attributed to the launch of INJ 2.0 in August 2023, which introduced auctions for token burns. As a result, a substantial amount of INJ has been burned weekly, totaling approximately 5.9 million INJ to date, equivalent to around $190 million at current prices.

INJ 3.0 takes the effort to tighten the token supply even further. Taking inspiration from Bitcoin halving events, the proposal aims to decrease the INJ token inflation rate over a two-year period. This move will not only reduce the INJ supply but also position INJ as one of the most deflationary crypto assets in an accelerated fashion.

The team states, "The INJ supply reduction program will directly reduce the INJ supply and bring INJ closer to becoming the most deflationary crypto asset through an accelerated timeline." The proposal is set to undergo voting by April 19, with the community engaging in discussions and finalizing the details beforehand. The proposal sets the lower limit for annual token inflation reduction at 5% and suggests a uniform reduction of 25% every three months over the two-year period.