Binance's INIT Launchpool to Launch on Centralized Exchanges Following Completion of Farming Operation
Fresh Take:
Get ready for a barrage of listings as Initia, the buzzing new kid on the blockchain scene, prepares for its big debut on multiple exchanges. Binance, leading the charge, will list INIT on April 24 at 11:00 UTC. Joining the party are MEXC, Bybit, Gate.io, Bitget, and KuCoin, all set to list INIT tomorrow.
The launch follows a six-day farming period on Binance Launchpool, where avid stakers could amass INIT tokens by staking BNB, USDC, or FDUSD from April 18 to April 23. The farming spree saw a generous allocation of 30 million INIT tokens, a whopping 3% of the total supply, distributed as rewards. No platform fees were charged for participation.
Initia, a Layer 1 blockchain, is poised to take centre stage with its innovative features designed to unify multi- chain ecosystems, improve liquidity, and support the seamless deployment of appchains. It boasts an impressive $25 million in funds raised from notable backers like Theory VC, Delhi Ventures, and Hack VC.
The native INIT token has a fixed supply of 1 billion tokens. Half of this is earmarked for staking rewards via the Enshrined Liquidity mechanism and the Vested Interest Program. Excitingly, developers and early investors will receive a sizeable chunk, subject to a four-year vesting schedule with a one-year lock-up period followed by a three-year linear release.
To stimulate exchange liquidity and strengthen community engagement, Initia has cleverly allocated several percentage points of the total supply. For instance, 6% of the tokens have been reserved for Binance's Launch Campaign, while another 5% will be dished out as airdrops to early users and testers. The remaining 1% will delight Echo.xyz community sale participants, with tokens unlocking gradually over a two-year period.
In a recent frenzy, the price of a different token, ANA, soared by an astounding 2700% after the Binance Launchpool announcement. Will INIT follow suit and make waves in the crypto world? Only time will tell!
Insights:
- Architecture: Initia's design combines Layer 1 coordination with Layer 2 scalability, the Interwoven Rollup architecture making it a frontrunner for cross-chain cooperation.
- Core Features: The Enshrined Liquidity feature enhances capital efficiency by merging staking with liquidity provisioning. Opinit Stack offers instant cross-layer transfers. Minitaswap serves as a native DEX for cross-rollup asset swaps.
- INIT Token Details: The INIT token has a total supply of 1 billion and initial circulation of 14.88% at mainnet launch. Its primary use cases include transaction fees, staking, governance, cross-rollup operations, and earning incentives through staking to secure the network.
- The upcoming listing of INIT token on multiple exchanges, including Binance, follows a six-day farming period on Binance Launchpool.
- Stakers on Binance Launchpool could earn INIT tokens by staking BNB, USDC, or FDUSD during the farming period, with a generous allocation of 30 million INIT tokens distributed as rewards.
- Initia, a Layer 1 blockchain, is designed to unify multi-chain ecosystems, improve liquidity, and support the seamless deployment of appchains.
- The native INIT token has a fixed supply of 1 billion tokens, with half of this allocated for staking rewards and a sizeable chunk reserved for developers and early investors.
- To stimulate exchange liquidity and strengthen community engagement, Initia has allocated several percentage points of the total supply, with some tokens reserved for Binance's Launch Campaign, airdrops, and Echo.xyz community sale participants.
- The INIT token's primary use cases include transaction fees, staking, governance, cross-rollup operations, and earning incentives through staking to secure the network.
- Initia's Interwoven Rollup architecture makes it a frontrunner for cross-chain cooperation and combines Layer 1 coordination with Layer 2 scalability.
- The Enshrined Liquidity feature enhances capital efficiency by merging staking with liquidity provisioning, and Minitaswap serves as a native DEX for cross-rollup asset swaps.
