Injective, the Layer1 blockchain focused on DeFi, temporarily halted the INJS token minting on its platform due to concerns about the destination of the funds. However, the official response from Injective yesterday stated that they have started the refund process and will resume the token minting on the 21st day.
Warning: “Do not mint INJS tokens!” The official statement from the Injective blockchain stated that the project team was dishonest and transferred the minting fees to an unknown wallet.
In response to this incident, the blockchain community reached out to Injective for clarification. Yesterday (20th), Injective responded by clarifying that the project team did not “transfer the fees,” but rather set a “mint cost” for the token minting, which is why the fees were directed to their wallet. The project team further stated that they will complete all refunds within 24 hours and plan to have a “free fair launch.”
INJS: First batch of refunds completed. Indeed, on the evening of the 20th, around 8:20 PM, INJS tweeted that they had completed the first batch of refunds at block height 54,889,682. They will collect the second and final batch of refunds from block height 54,889,683 to 54,952,165 and will no longer process any refund requests starting from block height 54,952,166.
INJS: Token minting to resume on the 21st at 10 PM. The official statement from INJS also mentioned that token minting will resume at 10 PM Taiwan time on the 21st day.
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Injective
INJS
Layer1
Token minting
