Initia Mainnet Launches Today to Support Appchain Development
Initia has launched its mainnet, aiming to provide a unified solution for application-specific L2 chains while minimizing fragmentation issues faced by other L1s like Ethereum and Cosmos. Key details include:
- Initia offers an "Interwoven Stack" for appchains, ensuring shared standards and services.
- Appchains can choose their execution environment from EVM, MoveVM, or WasmVM.
- Common infrastructure includes a canonical bridge (LayerZero), cross-chain messaging (Cosmos IBC), and a data availability layer (Celestia).
- The Initia L1 operates on MoveVM with CometBFT consensus, featuring single slot finality and 500 ms block times.
- Liquidity is retained through staking rewards for INIT token holders and trading fees on Minitswap, the native DEX.
- Initia's Vested Interest Program rewards appchains based on total value locked (TVL) and governance metrics.
- Initia has raised $25 million through private rounds; participating teams have raised a total of $28 million.
INIT token is now live, with a structure designed to encourage value accrual among appchains and prevent them from leaving Initia for independent chains.