The Injective community has overwhelmingly approved governance proposal IIP-617, with a 99.89% staking vote in favor. This proposal introduces significant changes to the INJ tokenomics, including a reduction in the native token issuance and the continuation of a buyback and burn mechanism based on protocol revenue. To date, approximately 6.85 million INJ tokens have been burned. The new mechanism aims to enhance the deflationary nature of INJ over the long term.