Injective INJ

Commentary versus actual token vesting

Commentary Versus Actual Token Vesting Genesis vesting completed as published: the paper's "full unlock by Jan 2024" matches DropsTab's observed "100.00% Unlocked on 21 Jan, 2024" and matches the binding Team schedule (9-month lock-up + 30-month unlock = 21 Jan 2024). Three-way agreement; no deviation, delay or acceleration found. The inflation schedule did deviate. INJ 3.0 (IIP-392) published a two-year glide to 4% / 7% bounds via quarterly reductions. Four reductions executed (Jul 2024, Aug 2024, Sep 2024, Jan 2025), reaching 4.625% / 8.875%. No mint-parameter proposal passed in the whole of 2025 — the published glide was abandoned mid-schedule and never reached 4% / 7%. Superseded by IIP-617 (Jan 2026), which reset bounds to 2.2% / 4.4% — below the abandoned INJ 3.0 target, but by a different instrument on a different timetable than the one disclosed in April 2024. Burn cadence changed without the tokenomics paper being updated. The paper describes weekly burn auctions; the on-chain auction_period is 28 days, and the Community BuyBack (from Oct 2025) replaced the winner-take-all auction with a monthly pro-rata design. The published paper still reads "weekly". Rounding in the published table. Team/Advisors 16.7% × 6 = 100.2%; Seed/Private 33.3% × 3 = 99.9%; Community Growth 8.33% × 12 = 99.96%. The paper does not state the true final tranche in any of these buckets. No project-published stated-vs-actual comparison exists. Injective has never published a vesting-completion report, an unlock audit, or a reconciliation of issued supply against the genesis table.