Initia is built to fulfill the appchain vision by building an L1 in tandem to an interconnected system of native rollups, a unified multichain product suite, and an economic system that unites these chains.
Initia’s opinionated rollup framework allows teams to build application-specific blockchains with full-stack customizability while enshrining shared standards across the entire system to build a unified multichain world.
INIT is the native token in Initia’s multichain world, which has the following functions:
Gas Token: INIT is used as gas on the L1 and appchains.
Enshrined Liquidity and L1 Security: The Initia L1 contains a native DEX which acts as the liquidity hub for the entire Interwoven Economy. INIT denominated LPs in this DEX are staked with validators to secure the network and boost accessible crosschain liquidity.
Settlement Fees: Appchains using Initia’s interwoven stack pay settlement fees to the L1.
Initia VIP: Economic framework designed to tighten economic alignment between the L1, L2s, and users.
The Initia ecosystem consists of the following three products working in conjunction:
Interwoven Stack:
Rollups on Initia’s Interwoven Stack operate in EVM, MoveVM, or WasmVM with 10,000 TPS and 500ms blocktimes. Interwoven Rollups have the Cosmos SDK underneath offering full-stack customizability on tx ordering and internalizing MEV.
Interwoven Rollups enshrine LayerZero interoperability and Celestia DA and come with access to oracles, Native USDC, indexers, and other tooling.
Initia L1 and Enshrined Liquidity Consensus:
The Initia L1 is the first Cosmos SDK chain utilizing MoveVM and the Move smart contract framework.
At the center of the L1 is Enshrined Liquidity, an altered Proof of Stake consensus enabling INIT denominated liquidity to be staked with validators to secure the network while acting as multichain liquidity.
Product Suite: Initia’s unified product suite comes with the following:
Initia Scan: Explorer for the Initia L1 and all L2s.
Initia App: Homeground for all things on Initia.
Initia Usernames: Multichain Name Service.
Initia Multisig: MultiVM Multisig.
Initia Wallet Widget: Simplified wallet frontend to connect wallets to rollups in any VM and manage multichain balances.
Initia Bridge Widget: Simplified bridging into any Interwoven Rollup from any IBC or LayerZero connected chain.
Initia VIP:
Initia VIP programmatically distributes INIT to create economic alignment that encourages all actors within the ecosystem to care about the success of Initia. VIP provides Interwoven Rollups with a means to attract and retain users while building demand for INIT.
Rewards are distributed to Interwoven Rollups based on L1 Governance and INIT TVL metrics.
Rollups then allocate rewards to their users through on-chain usage based KPIs which vest over continued engagement.
Initia has raised 25M USD.
22.5M USD was raised through 3 private rounds where ~15.25% of the supply was sold to investors.
~5.07% in a preseed led by Binance Labs in early 2023
~6.17% in a seed led by Delphi Digital and Hack VC in late 2023
~4% in a Series A led by Theory Ventures in 2024
2.5M USD was raised on Echo.xyz in the first public sale from The Echonomist (1% of the supply)
As of April 20, 2025, the total and max supply of INIT is 1,000,000,000 and the circulating supply upon listing will be 148,750,000 (14.88% of the total supply).
Key metrics (as of April 20, 2025)
1. What is Initia?
Initia is a network for interwoven rollups combining an L1 and an interconnected system of customizable appchains.
1.1. Project Mission & Value Proposition:
Project Mission: Initia’s mission is to build a new multichain world by uniting appchains and unlocking their full value through interwoven infrastructure and aligned economics.
Value Proposition: Initia makes it easy for developers to capture value and build unique application-specific blockchains with shared standards while tapping into a network of other aligned appchains, unified liquidity, and users.
1.2. Project Key Highlights & Existing Products:
16 Interwoven Rollups: At the moment, there are 16 announced appchains on Initia’s Interwoven Stack. Together, they have raised over $28M USD in funding from leading investors such as Binance Labs, Polychain, Hack VC, and Lightspeed Faction.
MultiVM: Initia’s rollups may operate in EVM, MoveVM, or WasmVM while having full interoperability and token fungibility.
The first MoveVM on CosmosSDK: Initia has built the first implementation of the Move VM on Cosmos SDK with full access to IBC.
Highly Interoperable: Interwoven rollups are connected to every LayerZero and IBC enabled chain at launch.
2. Technical Infrastructure:
3. Token sales and economics
3.1. Token Distribution:
3.2. Token Release Schedule:
Note: Tokens allocations for "Staking and Enshrined Liquidity" & "Vested Interest Program (VIP)" will continue vest monthly beyond Apr 2032 for ~156 months & ~87 months respectively.
4. Risk Analysis:
4.1. Initial Circulating Retail:Institution Ratio:
Disclaimer: This report is written before spot opening to trade, the liquidity token in the liquidity pool may be transferred while opening.
5. Roadmap & Updates:
5.1. Completed Milestones:
5.2. Current Roadmap:
Q2 2025:
Launch of Initia Mainnet.
Airdrop.
Interwoven Rollups Live.
Q3 2025:
More Interwoven Rollups Live.
Initia Product Suite Upgrades and Improvements.
L1 Performance Improvements.
Q4 2025:
New VMs on Interwoven Rollups.
Interwoven Stack Improvements.
5.3. Commercial and Business Development Progress:
Celestia: Celestia is a Data Availability network that is used by every rollup on Initia’s Interwoven Stack.
LayerZero: LayerZero is an interoperability standard used by rollups on Initia’s Interwoven Stack to communicate with other EVM, Move, and SVM based chains.
Skip: Skip builds tools for the Cosmos SDK including Skip Go and Skip Connect.
Ethena: Ethena is enabling internet money with USDe and sUSDe stablecoins. Ethena is bringing these assets to the Interwoven Economy and has invested in Interwoven Rollups.
Ether Fi: Ether fi is liquid staking on Ethereum, deploying weETH into Initia’s Interwoven Economy.
Goldsky: Goldsky provides real-time blockchain data services for Web3 developers.
6. Community:
Main X (Twitter)
Ecosystem X (Twitter)
7. Appendix: