> For the complete documentation index, see [llms.txt](https://docs.stakingrewards.com/staking-data/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.stakingrewards.com/staking-data/methodologies/cosmos-ecosystem-srb/injective-srb.md). # Injective SRB Learn how Injective staking rewards are calculated. INJSRB uses the Cosmos SDK formula with block-time-adjusted annual provisions and community tax, but excludes transaction fees, which Injective rout INJSRB is a benchmark representing the mean, annualized staking rate across all active Injective validators. INJSRB is calculated and published by Staking Rewards via the [Injective Profile](https://www.stakingrewards.com/asset/injective-protocol) and [Data API](https://www.stakingrewards.com/data-api). > **TL;DR:** Injective staking rewards equal annual provisions — adjusted for actual versus expected block time — minus community tax, divided by total staked INJ. Unlike most Cosmos SDK chains, transaction fees are **not** part of the reward rate: Injective routes them to its burn auction instead of to stakers. {% hint style="info" %} The calculations are derived from the ATOMSRB documentation, serving as the foundational reference to ensure the accuracy of relevant metrics. For more information visit the [ATOMSRB docs](https://docs.stakingrewards.com/staking-data/methodologies/cosmos-hub-srb). {% endhint %} {% hint style="warning" %} Injective uses the standard Cosmos SDK `mint` module, but differs from ATOMSRB in two ways: 1. **Transaction fees are excluded.** Injective diverts both exchange fees and transaction gas fees to its burn auction rather than to the staking reward pool, so the daily-fees term of the ATOMSRB formula is zero for INJ. See [Why transaction fees are excluded](#why-transaction-fees-are-excluded). 2. **Inflation bounds are governance-set and materially lower than Cosmos Hub's.** INJ inflation is bounded between 2.2% and 4.4%, against Cosmos Hub's 7%–20%. See [Inflation Rate Behavior](#inflation-rate-behavior). The block-time adjustment described by ATOMSRB is especially load-bearing for INJ: the protocol's `blocks_per_year` parameter assumes a block time appreciably faster than the chain actually produces, and leaving it unadjusted would overstate the rate by well over a percentage point. The size of that gap moves with block production and is measured on every calculation rather than assumed. {% endhint %} {% content-ref url="/pages/aKwZW2LPk4OF6A8oB6OI" %} [Cosmos Hub SRB](/staking-data/methodologies/cosmos-ecosystem-srb/cosmos-hub-srb.md) {% endcontent-ref %} *** ### INJ Staking Rewards Rate: INJSRB $$ INJSRB = ap \* (t\_b^e / t\_b^a) \* (1 - ct) / st $$
Formula KeyMetric NameDescription
apAnnual ProvisionsThe total amount of INJ the mint module is scheduled to emit per year, equal to the current inflation rate multiplied by total supply.
t_b^eExpected Block TimeThe block time implied by the chain's blocks_per_year mint parameter.
t_b^aActual Block TimeThe mean observed block time, measured from block headers.
ctCommunity TaxThe percentage of inflation rewards sent to the community pool at each block.
stStaked TokensThe total number of INJ bonded with active, non-jailed validators.
This is the ATOMSRB formula with the daily-fees term omitted, because that term is structurally zero for Injective. * INJSRB takes into account all accumulated rewards, whether they have been claimed or remain unclaimed. * INJSRB operates on a non-compounded basis, meaning it excludes returns generated from the reinvestment of rewards. * INJSRB is based on an assumption of 100% validator efficiency. For a SRB Reward Rate adjusted according to individual validator performance, please refer to INJSRB(v). #### Why transaction fees are excluded On most Cosmos SDK chains, transaction fees accumulate in the fee collector and are distributed to stakers alongside newly minted tokens. Injective routes them elsewhere: * **Exchange trading fees** are split between the dApp or relayer that originated the order and the burn auction basket. No portion is routed to the staking distribution module. * **Transaction gas fees** are sent to the burn auction rather than to the fee collector. Injective replaces the standard Cosmos fee-deduction behaviour to do this. * As a result, the chain's staking distribution module is funded by newly minted INJ only. Because no fee revenue reaches delegators, including a fee term would overstate INJSRB. The exclusion is a property of Injective's design, not an approximation. {% hint style="info" %} Injective's own documentation currently still describes validator rewards as comprising newly minted INJ **and** a share of transaction fees. That description predates the change that redirected fee collection to the burn auction. INJSRB follows the chain's current behaviour, which is why it excludes fees despite that wording. {% endhint %} #### Expected vs. Actual Block Time * The `mint` module emits a fixed fraction of annual provisions per block, based on the chain's `blocks_per_year` parameter. When actual block production differs from that assumption, real issuance differs proportionally. * Injective's `blocks_per_year` parameter implies a target block time near half a second, while observed block times run meaningfully slower. Fewer blocks are therefore produced each year than the parameter assumes, and real issuance is correspondingly lower than the endpoint's nominal figure. * INJSRB scales annual provisions by the ratio of expected to actual block time, prioritising observed block production over the protocol's nominal assumption. * This adjustment accounts for essentially all of the difference between INJSRB and staking rates published elsewhere for INJ, which apply different block-time assumptions or none at all. #### Slashing * INJSRB does not factor in the possibility of slashing occurrences. * It's important to note that if validator entities face slashing, rewards will increase, as the slashed tokens are reallocated among validators. #### Observation Period * The INJSRB is determined based on the latest generated block at the point of evaluation. * This data is then annualized for a comprehensive year-long projection. #### Calculation * The calculation happens every 2 hours and is immediately published via [Data API](https://www.stakingrewards.com/data-api). #### Limitations * INJSRB employs a 365-day convention for annualizing current block provisions. This convention remains consistent and does not accommodate adjustments for leap years. * INJSRB excludes returns from Injective's Community BuyBack, which is an opt-in program on a limited, randomized whitelist. Participants commit INJ that is permanently burned and receive revenue in stablecoins. Nothing accrues to a delegator who only stakes, so those returns are not comparable to a staking rate and are not part of INJSRB. * Gas fees paid through Injective's native EVM transaction route are credited to the fee collector and therefore do reach delegators. This share is not separately measurable and is immaterial relative to minted provisions. * Because inflation bounds are set by governance, a successful proposal changing them alters INJSRB from the block it takes effect. INJSRB reads these parameters live rather than assuming fixed values. *** ### INJ Validator Staking Rewards Rate: INJSRB(v) Staking Rewards calculates the INJSRB for each validator based on their individual performance and commission rate. $$ INJSRB(v) = INJSRB \* (1*p)*(1-cr) $$
Formula keyMetric nameDescription
pPerformanceThe percentage of successfully validated blocks over the last 10,000 assigned blocks for this validator.
crCommission RateThe percentage commission rate the validator has set as a delegation fee for all delegators.
Injective enforces a protocol-level minimum commission rate, so no validator's effective rate falls below it. Rewards are distributed strictly in proportion to voting power; Injective sets both proposer-reward parameters to zero, so block proposers receive no additional share. *** ### INJ Real Reward Rate: INJSRB^R The real reward rate calculates the INJSRB adjusted for inflation in the network. $$ INJSRB^R = (1+INJSRB)/(1+ir)-1 $$
Formula keyMetric nameDescription
irInflation RateThe annual provisions, adjusted for actual block time, divided by the total supply of INJ.
#### Inflation Rate Behavior * INJ inflation is a bounded dynamic rate. It rises when the share of bonded INJ sits below the protocol's target ratio and falls when it sits above, which incentivizes staking toward that target. * The bounds and the target ratio are governance parameters rather than protocol constants. They have been revised several times, most substantially by INJ 3.0 in April 2024 and by the Supply Squeeze proposal in January 2026, which roughly halved both the upper and lower bound. * Injective's bounds are materially tighter and lower than Cosmos Hub's. Whenever bonded INJ sits below the target ratio, the dynamic rate is driven to — and held at — the upper bound. * INJSRB reads these parameters from the chain on every calculation, so governance changes are reflected without methodology revision. #### Total Supply and the Burn Auction * INJ total supply is sourced from the chain's own `bank` module rather than from market-data aggregators. This matters because Injective's burn auction permanently destroys INJ, so on-chain supply is already net of every INJ ever burned and is the only self-updating figure that stays consistent with the supply base the `mint` module uses to compute annual provisions. * The burn auction runs on a recurring multi-week cadence. Accumulated exchange and gas fees form a basket that is auctioned; the winning bid, denominated in INJ, is burned. * Burns currently offset only a small fraction of issuance, so INJ total supply continues to grow. The burn auction reduces net supply growth but does not make INJ deflationary at present, and it does not enter INJSRB — it affects the supply side, not rewards paid to delegators. *** ### Other Injective metrics calculated by Staking Rewards
MetricDescription
Delegated TokensThe number of tokens delegated to validators.
Self Staked TokensThe number of tokens staked by validators directly.
Staking WalletsThis metric refers to the number of unique delegator addresses with at least one delegation on-chain. An address delegating to several validators is counted once. It excludes considerations of any minimum delegation thresholds.
Staking RatioThe share of total INJ supply that is bonded with active validators.
Unstaking TimeThe unbonding period between requesting a withdrawal and the tokens becoming liquid.
Note that Fee Revenue is not published for Injective, for the same reason fees are excluded from INJSRB. *** #### Data Sources: * [Staking Rewards](https://www.stakingrewards.com/) from indexed Injective Blocks and Blockchain RPC Endpoints * [CoinGecko](https://www.coingecko.com/) for INJ price *** #### References: * * *** :books:[ Learn more about INJ Staking](https://www.stakingrewards.com/asset/injective-protocol) :bar\_chart: [Calculate your INJ Staking Rewards](https://www.stakingrewards.com/calculator?asset=injective-protocol) ⚙️ [Access historic Injective Staking Data via API](https://www.stakingrewards.com/data-api) ``` Last updated on 09/15/2026 ```