I didn't expect that I would also be in @Initia 🪢 on the KaitoAI leaderboard, so let's talk about what I see with Initia
I just got pulled into the Initia top 100 list and realized I made the list, and it's just at the lowest standard of 100 where my profile picture is visible 😂
Since that's the case, I'll talk about the current situation I see
📌 The current observations are not ideal
❶ Regarding tx
Why tx? Because I can't find verifiable TVL data
I mentioned "statistical data table" in my previous tweets
The official site clearly has this interface, but a month and a half has passed and it's still Coming Soon...
Currently, I can't find any other place that has it, and there is no data for Rollup Layer 2 on DefiLlama either
The number of tx on the Initia mainnet is 5 transactions/minute
You could say that interactions are all happening on Rollup Layer 2, where the data is sparse
But the most active on Layer 2 are Inertia and kamigotchiworld, both of which are at 20-30 transactions/minute
I won't mention the others; applications are not primarily about tx counts, but it's certain that there are currently no blockbuster projects
https://scan.initia.xyz/interwoven-1
Inertia is currently one of the most active projects in the Initia ecosystem
I have previously written many articles about the Inertia lending protocol
Because it allows circular borrowing, most of the interaction volume up there is likely generated by circular lending
Can you understand the kamigotchiworld game?
It seems to stutter a bit when it takes a step, probably due to being on-chain? I'm not sure, so I won't speculate
Is there any player who can share their experience with earning in the game?
I haven't even entered the game yet; I have to pay to input my name first, which is quite a barrier for players. Plus, this isn't a free game
Simply looking at tx counts doesn't make much sense
It can only be simply understood as whether there are people interacting on it; you can't really see much detail
❷ Regarding TVL
Other than Echelon, all the numbers are only from the official website (which seems to be outdated)
civitiaorg TVL 9m official data
milkyway TVL 5.28m official data
EchelonMarket TVL 5m (defillama)
RAVE TVL 4m official data
Inertia TVL 4m official data
❸ Others
infinityg seems okay, still researching
Rena has nothing
intergaze NFT I don't want to talk about, all have broken launch
battleforblock token $BFB should have broken launch
embr was being pushed by someone a while ago; it looks like the website is well-made, but now it keeps getting flagged by wallets as a malicious site
📌 Summary
❶ I still quite like Initia
✅ L1 ←→ L2 back and forth usage is still quite innovative
✅ EVM, Move, and Wasm can all be integrated
Additionally, I like the design of the web wallet, which integrates various different wallets
I once thought it had the potential to become mainstream, but now it seems I haven't seen similar designs; maybe it just needs a bit more time since it's only been less than 2 months
❷ I sold $INIT
