The $INI token, native to the InitVerse ecosystem, is pivotal in a decentralized Web3 platform designed to enhance privacy, scalability, and accessibility for developers, enterprises, and users. Based on available information, here are the key impacts of the $INI token:
1. Economic Incentive for Network Participation
Mining and Staking: $INI tokens are primarily generated through a Proof-of-Work (PoW) mechanism on INIChain. Providers mine 90% of the total 6 billion token supply to secure the network.
$INI is 100% mined through PoW, with no pre-mining or staking mechanism.
During the mining process, participants can either join the official mining pool or run independent nodes.
If mining in the official pool:
Large-scale miners can choose Pool A or Pool B, where the pool charges a 10% fee on mining rewards for maintenance and $INI operations.
Smaller miners can opt for Pool C, which charges only a 1% fee for maintenance and operations.
If mining through independent nodes:
No fees are deducted from earnings. However, due to the high overall network hashrate, low-power machines may struggle to generate blocks and earn rewards.
2. Governance and Ecosystem Control
$INI is the mainnet token, not a governance token. The InitVerse network is governed through $INI, but this does not mean $INI itself is a governance token.
Every $INI holder has governance rights, not just stakers. Additionally, InitVerse does not have stakers.
There is no buyback-and-burn mechanism for $INI.