Injective's governance just greenlit IIP-617, which doubles the burn rate for INJ tokens effective January 16. The chain has already incinerated 64 million INJ, with roughly 65% of the circulating supply currently staked. This accelerated burn mechanism means the deflationary pressure on the token will intensify significantly going forward. Meanwhile, the ecosystem is gaining real traction—pre-IPO perpetuals trading recently surged to $100 million in volume within just two months, letting traders long or short unconventional assets like SpaceX and OpenAI with 25x leverage. On the funding side, Pineapple Financial injected $100 million into the Injective treasury, signaling institutional confidence in the protocol's long-term vision. The combination of aggressive token deflation, active derivative markets, and fresh capital inflows paints a picture of a maturing ecosystem.