Validators process transactions and receive transactions fees (supply-side fees).

Injective is a smart contract platform for decentralized finance applications (a blockchain) and an orderbook exchange protocol. Injective was founded by Eric Chen, Albert Chon etc. and launched in 2020. Note that this dashboard only tracks Injective's blockchain business.

INJ holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (revenue) via Burn Auctions. Injective's investors include Binance, Jump Crypto, Mark Cuban, etc.

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Blockchains (L1)

Injective

# Injective Token incentives Methodology

## 1. Overview

Token incentives represent the daily USD value of new tokens issued as staking rewards or other protocol incentives to participants. For Injective, this metric captures staking rewards distributed on the Injective Cosmos chain, while the Injective EVM chain has zero token incentives. The calculation aggregates daily mint events from the Cosmos consensus layer and converts the native INJ amounts to USD using end-of-day price feeds.

## 2. Data sources

- **Injective Cosmos block events**: Blockchain events emitted during block processing, specifically `mint` events that occur during the `BeginBlock` phase when new INJ tokens are minted as staking rewards
- **End-of-day price feeds**: INJ token prices from CoinGecko used for USD conversion
- **Injective EVM transaction data**: Used only for timestamp consistency, as the EVM execution layer does not issue token incentives

## 3. Step-by-step calculation

### Component A: Injective cosmos staking rewards
- **Purpose**: Calculate daily staking rewards issued on the Injective Cosmos consensus layer
- **Logic**: Extract mint events from Injective Cosmos block events, filtering for events where `event_type` equals `mint` and `source` equals `BeginBlock`. These events represent new INJ tokens minted as staking rewards during block processing. Parse the `amount` field from the JSON event attributes structure, convert from wei units to native INJ by dividing by 1e18, then aggregate all mint amounts per day to get total daily staking rewards
- **Key fields**: `block_timestamp` for timing, `event_type` and `source` for filtering mint events, `event_attributes` containing the JSON structure with the `amount` field representing minted INJ in wei units

### Component B: Injective EVM zero incentives  
- **Purpose**: Maintain consistent daily records for the Injective EVM chain which has no token incentives
- **Logic**: Use the Injective EVM gas fees data source solely to extract timestamps for each day the EVM chain was active. Set token incentives to zero for all dates since the Ethereum-compatible execution layer does not issue any token rewards or incentives
- **Key fields**: `block_timestamp` for maintaining daily timestamp consistency, hardcoded zero value for `token_incentives`

### Component C: USD conversion
- **Purpose**: Convert native INJ staking rewards to USD values
- **Logic**: Join the daily INJ staking rewards with end-of-day INJ price feeds from CoinGecko. Multiply the native INJ amounts by the corresponding daily USD price. Use left join with coalesce to handle any missing price data by defaulting to zero
- **Key fields**: `timestamp` for matching dates, `price` from CoinGecko feeds, calculated `token_incentives` in USD

### Final aggregation
- **Combining components**: Union the USD-converted Cosmos staking rewards with the zero-value EVM records to create a complete daily time series across both Injective chains
- **Currency conversion**: Native INJ amounts converted to USD using end-of-day CoinGecko prices with timestamp alignment
- **Time aggregation**: Daily boundaries established using day-level timestamp truncation of block timestamps
- **Final calculation**: Total daily token incentives equal the sum of all mint event amounts in USD for Injective Cosmos plus zero for Injective EVM, with standardization applied through the finalize metric macro to ensure consistent formatting and handle any data gaps

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Value of native tokens distributed as incentives.

InjectiveINJ

Token incentives

Token incentives

Competitive landscape

Chain breakdown