Injective (INJ)

The $INJ Community BuyBack is just 12 hours away

Who's ready? 🥷 https://t.co/gI5TF9KLYt

Goodnews: Canary Updates Its Staked $INJ ETF Filing

Here are the 5 biggest updates, explained simply:

⤷ It will trade under the ticker $INJS on Cboe BZX:

For those that don't know, Cboe BZX is a U.S. stock exchange where ETFs are listed and traded, similar to the NYSE or Nasdaq.

When Injective ETF gets approved, investors will be able to buy and sell the ETF on a stock exchange using the ticker INJS, just like buying any other ETF.

⤷ The fund will stake almost all of its $INJ:

So Instead of just holding the tokens, the ETF will stake most of them to earn rewards

Those rewards will be automatically added back into the fund, and the fund will publish its staking percentage onchain every trading day.

⤷ Staking fees are capped at 10% of the rewards:

The company managing the staking can only take up to 10% of the staking rewards as a fee

The rest stays in the fund for investors.

⤷ BitGo Trust will custody the Injective:

BitGo Trust is responsible for securely storing the ETF's Injective, helping kee