Enshrined

Initia ($INIT ) is a #cryptocurreny that powers its #ecosystem , enabling features like #Enshrined Liquidity, which allows liquidity positions to double as staking assets. Here's a quick rundown ¹:

*Key Features*
- *Enshrined Liquidity*: Overcomes limitations of proof-of-#Stake and rollup networks by allowing liquidity positions to support network security and earn staking rewards.
- *Layer 1 Chain*: Built on the Cosmos SDK, integrating MoveVM for smart contracts and LayerZero for messaging.
- *Interwoven Rollups*: Enables app-specific chains with full-stack customizability.

*Market Performance*
- *Current Price*: $0.806143 (with a 14.89% increase in the last 24 hours).
- *Market Capitalization*: $120.08 million, ranking #406 among cryptocurrencies.
- *Trading Volume*: $475 million+ in the last 24 hours ² ³.

*Use Cases*
- *Gas Fees*: INIT is used for gas fees across L1 and L2s.
- *Liquidity Pools*: INIT serves as the base asset for liquidity pools, fueling cross-chain trading.
- *Staking and Governance*: INIT holders can participate in staking and governance ¹.