Initia is a modular Rollup integrated Layer 1 public chain project founded by former LUNA employees, aiming to eliminate the fragmented experience of multi-chain systems through vertical integration of technology stacks. The project uses Cosmos SDK and Celestia data availability layer (DA), and plans to launch an incentive testnet in the first quarter of 2024.
Financing Information
Initia recently completed a $7.5 million seed round of financing, led by Delphi Ventures and Hack VC, with participation from Nascent, Figment Capital, A.Capital, BigBrain Holdings, etc. Angel investors include Cobie, DCF GOD, Zaheer Ebtikar and other well-known figures in the crypto field.
Technology Architecture
Initias core technical architecture includes a Layer 1 blockchain and a VM-independent Optimistic Rollup framework (OPinit Stack). The architecture is designed to provide a seamless modular network system by coordinating security, liquidity, routing, and interoperability. OPinit Stack has fraud proof and rollback capabilities, enabling CosmosSDK-based Rollups in EVM, MoveVM, or WasmVM to scale securely.
Main technical features
Optimistic Rollup: Use Optimistic Rollup instead of sovereign Rollup to reduce fragmentation and enhance interoperability.
Enshrined Liquidity: Enhances security and liquidity by building a liquidity center into the L1 chain and supports token swaps between L2 chains.
Shared infrastructure layer: provides core infrastructure such as indexers, oracles, block browsers, interoperability, etc., and supports developers to seamlessly launch new Rollups.
Product Features
Initia provides a complete stack of technology and user products to simplify the user and developer experience, including:
InitiaScan: A seamless multi-chain explorer system with VM specific tools and information.
Wallet Widget: EVM and Cosmos wallet signing via in-app social login.
Bridget: Front-end bridge/entrance, directly aggregated into summary.
Initia App: Home for all things Initia.
Initia Username: Omnitia on-chain identity.
Initia Wallet: A wallet built specifically for browsing Omnitia.
development team
The Initia team is composed of developers with extensive experience in the Cosmos, Terra, and Ethereum ecosystems. Core members include:
Zon: Former smart contract developer at Terraform Labs.
Stan Liu: Former MEV researcher at Terraform Labs.
The team also includes developers and product managers with extensive experience in FAANG and top quantitative firms.
Future Outlook
Initia is currently running on a closed testnet, and plans to launch an incentivized testnet in the first quarter of 2024 and a mainnet in the second quarter. The team will use the latest financing to expand the team and the Initia ecosystem, and is committed to building an Apple ecosystem in the blockchain field.
Ecological Projects
Initia public testnet will be launched in a few weeks. A new ecosystem will be formed around initia:
The main ecological projects are as follows:
Blackwing
It is a modular blockchain that enables liquidation-free leveraged trading of long-tail assets through a novel structure called infinite pools. In addition, by leveraging the latest advances in modular infrastructure and using Initia as a foundation, once traders deposit funds into Blackwing, they can trade assets on any modular application chain without having to transfer funds across different networks, significantly saving costs and improving security. ;
On March 7 this year, it completed a $4.5 million financing led by Hashed and Gumi Cryptos . There is a registration entrance on the official website to participate in future airdrops, with a TVL of 30M.
Tucananetwork
It is an intention-centric liquidity layer, DEX, and trader-optimized L2 network. Tucana is built to unify transactions across all modular networks, with the underlying layer being Rollups interwoven with initia and celestia. With full access to limit orders, market orders, and perpetual contracts, Tucana is a one-stop shop for modular future transactions.
Community Totem
Controrg
GLOB progressive limit order, first for the prediction market, to achieve fair on-chain betting. It is also the builder of the old luna protocol, turning to Initia.
MilkyWay
MilkyWay is a liquidity staking solution for the Celestia ecosystem, initially deployed and running on Osmosis, with the long-term plan to migrate to Celestias rollkit for native milkTIA issuance. When users stake TIA tokens for liquidity on MilkyWay, they receive an on-chain representation of the TIA staked state, called milkTIA. This enables Celestia token holders to gain liquidity on their staked assets, enabling trading or using them as collateral for various DeFi products.
On April 30, it was announced that Binance Labs and Polychain Capital had jointly led a $5M round of funding.
mPoints reward activity enters the fourth week, giving 10% $MILK to users with points
Lunch App
Lunch is a gateway to Web3 adoption that combines a consumer-focused mobile app with interwoven rollups @initiaFDN . Initially, Lunch will be a Web3 activity hub and a payment app - with more products (e.g. RWA) coming soon.
Civitia
What is Civitia? It is a SocialFi gamified dApp where you compete with other players to acquire cities and earn revenue. Collaborate within the community to develop your own social and financial strategies.
Documentation: https://docs.civitia.xyz/
Tony, an analyst at XT Research Institute: The market has shrunk significantly recently, and trading sentiment is not high. In a period when the overall atmosphere is cold, research on a single track is particularly important. Initia is expected to occupy an important position in the blockchain ecosystem through its innovative architecture and powerful technology stack that integrates Layer 1 with modular Rollup. Its unique Enshrined Liquidity mechanism and shared infrastructure layer provide developers and users with a seamless and efficient experience. With the launch of the incentive testnet and the launch of the mainnet, Initia is expected to attract more developers and users and promote the development of the entire ecosystem.
Reference Links
Official website: https://initia.xyz/
X (Twitter): https://twitter.com/initiaFDN
Medium: https://medium.com/@initiafdn
Rootdata: https://www.rootdata.com/zh/Projects/detail/Initia?k=OTc0MA%3D%3D
