What is Initia (INIT)?

What is Initia (INIT)?

Initia (INIT) is a Layer 1 blockchain built on the Cosmos SDK, offering a modular framework that enables developers to create customizable rollups. These rollups are specialized blockchains tailored to specific applications, providing enhanced scalability and performance. By abstracting away the complexities of traditional blockchain development, Initia empowers developers to focus on building innovative solutions without the need to manage underlying infrastructure. Initia aims to address the challenges of scalability and fragmentation in the multichain environment by providing a seamless and efficient infrastructure for developers and users alike.

Who Created Initia (INIT)?

Initia was founded by Ezaan “Zon” Mangalji and Stan Liu, both of whom have extensive experience in the blockchain industry. The duo previously worked together at Terraform Labs and later collaborated on a Cosmos-based DeFi blockchain project. Following the collapse of Luna, they shifted their focus to developing Initia, bringing together a team of developers with backgrounds in Cosmos and other prominent blockchain ecosystems.

What VCs Back Initia (INIT)?

Initia has attracted significant attention from venture capital firms, securing substantial funding to support its development.

● Pre-Seed Investment: In October 2023, Binance Labs, the venture capital and incubation arm of Binance, made a strategic pre-seed investment in Initia.

● Seed Round: In February 2024, Initia raised $7.5 million in a seed funding round co-led by Delphi Ventures and Hack VC. Other participants included Nascent, Figment Capital, Big Brain Holdings, and A. Capital Ventures. Angel investors such as Cobie, DCF GOD, Zaheer Ebtikar, Nick White of Celestia, and Smokey the Bera also contributed.

● Series A Round: Later in 2024, Initia completed a $14 million Series A funding round, bringing its total funding to $22.5 million. This round valued the INIT token at $350 million, underscoring the confidence investors have in Initia's vision and potential.

How Initia (INIT) Works

At its core, Initia operates as a Layer 1 blockchain that coordinates multiple Layer 2 rollups, each tailored to specific applications. The platform's unique architecture allows for the deployment of customizable rollups, known as "Minitias," which can be tailored to specific application needs. This flexibility enables developers to build and operate blockchain applications more efficiently, fostering innovation and broader adoption.

The Interwoven Stack

At the heart of Initia's architecture is the Interwoven Stack, a modular framework that supports the deployment of interwoven rollups. This stack combines elements from Optimism's OP Stack with Cosmos' Inter-Blockchain Communication (IBC) protocol, resulting in a VM-agnostic optimistic rollup framework tailored for Initia's ecosystem. This design allows for enhanced scalability and sovereignty, as each Minitia can independently manage its execution environment while maintaining interoperability with other rollups and the broader blockchain network.

Enshrined Liquidity

Enshrined Liquidity is a unique feature of Initia that enables liquidity providers to stake their assets while simultaneously participating in the network's security and earning rewards. Through the InitiaDEX, a decentralized exchange built on Initia's Layer 1, liquidity pairs that include the native INIT token can be whitelisted for staking. This mechanism eliminates the need for users to choose between staking and providing liquidity, allowing them to earn both staking rewards and trading fees from a single position, thereby improving capital efficiency.

Vested Interest Program (VIP)

The Vested Interest Program (VIP) is Initia's native incentive system designed to reward users who actively contribute value to the ecosystem. This program targets long-term alignment by offering rewards to builders, liquidity providers, and users who participate in governance and other network activities. By integrating VIP with Enshrined Liquidity, Initia ensures that participants who support the network's infrastructure are incentivized, fostering a robust and sustainable ecosystem.

INIT Goes Live on Bitget

Initia represents a significant advancement in blockchain development, offering a modular and scalable platform that simplifies the creation of decentralized applications. With strong investor support and a developer-centric approach, Initia is set to empower the next generation of blockchain innovators.

For developers seeking a seamless entry into the world of decentralized applications, Initia provides a comprehensive, user-friendly solution. And for those looking to be part of this exciting journey, trading INIT, Initia's native token, on platforms like Bitget offers a unique opportunity to participate in the growth of a cutting-edge blockchain ecosystem. As Initia continues to gain traction in the Web3 space, investing in INIT could be an advantageous step for those eager to join a rapidly evolving, game-changing project.

INIT on Bitget Pre-Market

INIT is a part of Bitget Pre-Market, a platform where users can trade tokens over-the-counter before the token is listed for spot trading. Join now to get the best out of it!

Start time: 17 April, 2025

To use Bitget Pre-Market, follow these simple steps:

● Step 1: Go to the Bitget Pre-Market page.

● Step 2:

○ For Makers:

■ Choose the desired token and click on ‘Post Order’.

■ Specify Buy or Sell, enter price and quantity, review details, then confirm.

○ For Takers:

■ Choose the desired token, pick ‘Sell’ or ‘Buy’, select the pending order, enter quantity, and confirm.

For detailed instructions on how to use Bitget Pre-Market, please read Introducing Bitget Pre-Market: Your Gateway to Early Coin Trading.

Get INIT on Bitget Pre-Market now!

Disclaimer: The opinions expressed in this article are for informational purposes only. This article does not constitute an endorsement of any of the products and services discussed or investment, financial, or trading advice. Qualified professionals should be consulted prior to making financial decisions.