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Initia (INIT) is a decentralized blockchain protocol that aims to solve fragmentation in the multi-chain ecosystem by integrating Layer 1 and Layer 2 technologies. Its goal is to create a unified architecture for developers to build efficient and scalable decentralized applications (dApps).

Key concepts of Initia:

Dual-layer architecture: Initia consists of a Layer 1 blockchain that serves as the base for security and coordination, and a network of customizable rollups (Layer 2 chains) called "Minitias." This allows each application to have its own chain, avoiding congestion on the main network.

"Interwoven Stack": It is a set of tools and frameworks that makes it easier for developers to create and deploy these Minitias. It offers flexibility to choose different virtual machines (like EVM, MoveVM, and WasmVM) and simplifies the process of building custom blockchains.

Enshrined Liquidity: A unique mechanism where INIT tokens or token pairs can be staked with validators to create a liquidity center within the Layer 1 chain. This aims to align the security of the network with economic incentives.

Interoperability: Initia is built on the Cosmos SDK, allowing for seamless interoperability with other chains in the Cosmos ecosystem through the IBC (Inter-Blockchain Communication) protocol. Additionally, it seeks to facilitate the transfer of assets between Minitias and other external chains.

INIT Token: It is the native token of the Initia network. It is used for:

Paying transaction fees.

Staking to secure the network and participate in validation.

Governance, allowing holders to vote on protocol updates and decisions.

Incentivizing developers and users through programs like the "Vested Interest Program (VIP)."