On April 18, 2025, Binance announced the launch of the 68th Launchpool project - Initia (INIT), an L1 blockchain that unites application chains through interwoven infrastructure and coordinated economic mechanisms to unleash their full value. Users can participate in the Launchpool from April 18, 2025, 08:00:00 (UTC+8). INIT will launch on April 24 at 19:00 (UTC+8). In this article, we predict the short-term reasonable price of INIT based on comparable valuation, opening funding, and benchmark projects. We believe the short-term opening price of INIT may peak above 2U, and subsequently fluctuate around 1U.

Details of this Launchpool:

• Token Name: Initia (INIT)

• Total token supply: 1,000,000,000 INIT

• Maximum Token Supply: 1,000,000,000 INIT

• Initial Circulation: 148,750,000 INIT (approximately 14.88% of the total token supply)

• Total amount for Launchpool: 30,000,000 INIT (3.0% of the maximum token supply)

o An additional 10,000,000 INIT will be distributed in batches for marketing activities after the spot listing. Detailed rules will be announced separately.

o An additional 20,000,000 INIT will be distributed in batches for marketing activities six months after the spot listing. Detailed rules will be announced separately.

• Listing fee: 0

• Terms and conditions: KYC required

• Individual hourly reward cap:

o BNB Pool: 17,708.33 INIT

o FDUSD Pool: 1,041.66 INIT

o USDC Pool: 2,088.33 INIT

 

• Project Overview:

1) Project Vision: The establishment of Initia aims to realize the vision of application chains by connecting a native aggregated interconnection system, a unified multi-chain product suite, and the economic system that unites these chains through the construction of L1.

Initia's aggregation framework allows teams to build application-specific blockchains with full-stack customizability while establishing shared standards across the system to build a unified multi-chain world.

2) Project Value Proposition: Initia enables developers to easily capture value and build unique application-specific blockchains with shared standards, while leveraging other consistent application chains, unified liquidity, and user networks.

3) The Initia ecosystem consists of three synergistic products:

• Interwoven Stack:

o Rollups on Initia Interwoven Stack can run on EVM, MoveVM, or WasmVM, with 10,000 TPS and a block time of 500 milliseconds. Interwoven Rollups are integrated with Cosmos SDK, providing full-stack customization capabilities for transaction ordering and MEV internalization.

o Interwoven Rollups combines LayerZero interoperability and Celestia DA, supporting access to oracles, native USDC, indexers, and other tools.

• Initia L1 and Enshrined Liquidity Consensus:

o Initia L1 is the first Cosmos SDK chain using MoveVM and Move smart contract framework.

o The core of L1 is Enshrined Liquidity, an improved proof-of-stake consensus mechanism that allows liquidity priced in INIT to be staked with validators, thereby securing the network while acting as multi-chain liquidity.

• Product Suite: Initia's unified product suite includes the following:

o Initia Scan: Resource explorer for Initia L1 and all L2.

o Initia Application: Homepage for everything on Initia.

o Initia Username: Multi-chain name service.

o Initia Multi-Signature: Multi-signature for multiple virtual machines.

o Initia Wallet Widget: Simplified wallet frontend for connecting wallets to any Rollup in any virtual machine and managing multi-chain balances.

o Initia Bridging Widget: Simplifies bridging from any chain connected to IBC or LayerZero to any Interwoven Rollup.

• Initia VIP:

o Initia VIP allocates INIT programmatically, achieving economic synergy and encouraging all participants in the ecosystem to focus on the success of Initia. The VIP provides a way to attract and retain users for Interwoven Rollups while promoting demand for INIT.

o Rewards for Interwoven Rollups will be allocated based on L1 governance and the total locked value (TVL) of INIT.

o Then, Rollups will allocate rewards to users based on on-chain usage KPI, which will be effective as users continue to participate.

 Existing products and data

• 16 Interwoven Rollups: Currently, there are 16 published application chains on Initia's Interwoven Stack. These application chains have raised over 28 million USD from leading investors such as Binance Labs, Polychain, Hack VC, and Lightspeed Faction.

• Multi-VM: Initia's Rollup can run on EVM, MoveVM, or WasmVM, while maintaining full interoperability and token interchangeability.

• First MoveVM on Cosmos SDK: Initia has built the first implementation of Move VM on Cosmos SDK and has full access to IBC.

• High Interoperability: Interwoven Rollup connects to all chains supporting LayerZero and IBC upon release.

Development Roadmap

• Q2 2025:

o Launch of Initia Mainnet.

o Airdrop.

o Launch of Interwoven Rollups.

Q3 2025:

o More Interwoven Rollups launching.

o Upgrades and improvements to Initia product suite.

o L1 performance improvements.

Q4 2025:

o New virtual machine on Interwoven Rollups.

o Interwoven Stack Improvements.

Team Introduction

Team Members:

Financing History

According to rootdata disclosures, Initia has completed two rounds of financing so far, raising a total of 24 million USD, detailed as follows:

Token Economy

Token Use:

o Staking:

 Shared Security: The re-staked $KERNEL can serve as economic security for applications built on the Kernel platform and Eigenlayer.

 Insurance Reduction: Staked $KERNEL tokens can be used to provide insurance for any reduction events related to rsETH and the Kernel platform.

o Governance: $KERNEL token holders can vote on governance decisions for the protocol.

o Airdrops from ecosystem projects: Kernel ecosystem partners can airdrop their governance rights to $KERNEL holders/stakeholders.

Social Data

Twitter: 205.1k

https://x.com/initia

Discord: 350k

https://discord.com/invite/initia 

Launch Prediction:

Recent data from Binance Launchpool

Recently, Binance has been frequently listing new tokens, with high participation interest. The recent number of BNB participants in Launchpool has even surpassed 18.5 million, yet the recent return rates have been quite ordinary.

BNB Lending Cost

From the perspective of BNB lending costs, the required breakeven price is relatively high, needing to reach 5.7U to break even.

Pre-market trading

According to Binance's pre-market trading data, the highest price of INIT reached 0.85U, with a volatility range of 0.7U-0.85U.

Valuation of peer projects

Comprehensive Prediction

According to the first day's token allocation ratio, we can see that nearly 74% of the circulation is from airdrops/user rewards. Therefore, there will be significant selling pressure from retail investors upon launch, requiring more time to reach a reasonable price range. We believe the opening price may peak above 2U, but the subsequent fluctuation range will settle around 1U.

Citation

Binance Announcement:

https://www.binance.com/zh-CN/support/announcement/detail/c288d0d677304b9e9246eceae0237ff3

Binance Research:

https://www.binance.com/zh-CN/research/projects/initia

Rootdata:

https://www.rootdata.com/zh/Projects/detail/Initia?k=OTc0MA%3D%3DBitget

Research Report:

https://www.bitgetapps.com/zh-CN/news/detail/12560604716145