Background

In September 2023, Injective launched the first native .inj domain with SPACE ID, enabling users to generate an INJ domain name for use across wallets, websites, dApps and more within the Injective ecosystem. Currently there are over 7,000 registrations, generating over ,000 revenue as registration fees.

Proposal

It was initially agreed upon that 50% of the generated revenue from INJ domain names would be shared with Injective Labs. This proposal recommends burning Injective Labs’s share of the revenue on-chain, commencing in December 2023, with subsequent burns occurring quarterly following the initial event.

The introduction of INJ 2.0 earlier this year allows any dApp across the ecosystem to participate in INJ burn auctions. Effectively, the passing of this proposal would send revenue from the sale of INJ domain names into the burn auction basket once every quarter.

Vote Impact

By voting YES on this proposal, you agree to burn Injective Labs’s on-chain revenue share from INJ domain names starting this December, and every quarter thereafter.

By voting NO on this proposal, you do not agree to burn Injective Labs’s on-chain revenue share from INJ domain names starting this December, and every quarter thereafter.

By voting NO WITH VETO on this proposal, you find this proposal to be (1) spam or irrelevant to the Injective ecosystem, (2) disproportionately infringes on minority interests, or (3) violates or encourages violation of the rules of engagement as currently set out by Injective governance. If the number of ‘NoWithVeto’ votes is greater than a third of total votes, the proposal is rejected and the 500 INJ deposit will be burned.

By voting ABSTAIN on this proposal, you wish to contribute to quorum while formally declining to vote either for or against the proposal.

Disclaimer: I am a member of the Injective Labs team.