Injective said on Oct. 9 that it has published an overview of the relationship between its blockchain network, its native token INJ, and the proposed Canary Staked INJ ETF, which would trade under the ticker INJC. The company described Injective as settlement infrastructure for financial applications and said INJ is used to pay network fees, secure the network through staking, and take part in governance. If approved, the proposed ETF would give investors exposure to both INJ’s price and staking rewards through traditional brokerage accounts. Injective also detailed parts of its token model, saying staking rewards are distributed through protocol issuance while token burns are used to reduce circulating supply. It added that its Community BuyBack mechanism links ecosystem revenue with INJ burns, with participants receiving a proportional basket of ecosystem asset revenue based on committed INJ, while the committed tokens are burned. Separately, Canary Capital has filed with the U.S. Securities and Exchange Commission, and BitGo Bank & Trust is proposed as custodian. According to the filing, the fund expects to stake at least 90% of its INJ under normal conditions, with staking rewards generally reinvested. The product remains subject to regulatory approval.
Injective said on Oct. 9 that it has published an explanation of the relationship between its blockchain network, its native token INJ, and the proposed Canary Staked INJ ETF, which would use the ticker INJC.
How INJ is used on the network
According to Injective, its blockchain provides trade settlement infrastructure for financial applications. The INJ token is used to pay network fees, secure the network through staking, and participate in governance.
How the proposed ETF is structured
Injective said that, if approved, INJC would give investors exposure to INJ’s price and staking yield through traditional securities accounts.
On the ETF filing, Canary Capital has submitted an application to the U.S. Securities and Exchange Commission. The filing proposes BitGo Bank & Trust as the custodian for INJ. According to the application documents, the fund plans to stake at least 90% of its INJ under normal conditions, and staking rewards would generally be reinvested.
Token model and burn mechanism
Injective said its token model distributes staking rewards through protocol issuance and reduces circulating supply through token burns.
The project also described its Community BuyBack mechanism as a structure that ties ecosystem revenue to INJ burns. Participants can receive a proportional basket of ecosystem asset revenue based on the share of INJ they commit, while the INJ they commit is burned.
The ETF remains a proposed product and still requires regulatory approval.
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