TechFlow Insights
Initia = Layer1 + Layer2, this complete technology stack enables Initia to implement chain-level mechanisms that align the economic interests of users, developers, Layer 2 appchains, and the Layer 1 chain itself, achieving Interwoven Rollups where all Rollup networks are interconnected.
Initia has designed multiple unique mechanisms to coordinate ecosystem participants toward a shared direction and encourage genuinely valuable innovation.
For more information, please refer to the official documentation:
Initia Basic Concepts
Initia: Full name Initia Orchestration Layer, i.e., Layer1,简称 Initia, this is the foundational layer responsible for coordinating network security, consensus, governance, interoperability, liquidity, and cross-chain messaging.
Minitia: Initia Rollups, i.e., Layer2, also known as "Minitia" or mini Initias, these are Layer2 solutions built on top of Initia Layer1, designed to enhance scalability and transaction throughput. They can operate on EVM, MoveVM, or WasmVM, with CosmosSDK as the underlying framework.
OPInit Stack: The Initia Optimistic Rollup framework, abbreviated as OPInit Stack. OPInit Stack is Initia's Optimistic Rollup framework built within CosmosSDK, used to secure Initia Rollups through fraud proofs and rollback mechanisms.
Ominitia: The platform encompassing all core components including Initia (Layer1), Minitia (Layer2s), OPInit Stack, Bridging Middleware, etc., is called Ominitia.
Enshrined Liquidity: Initia Layer1 introduces a unique consensus approach leveraging a Delegated Proof-of-Stake (DPoS) mechanism enhanced by the x/mstaking module. This module allows multiple tokens to be directly staked to validators to gain voting power. It accepts either individual INIT tokens or whitelisted INIT-X (corresponding Token) LP tokens from InitiaDEX as stake—this mechanism is known as Enshrined Liquidity.
This approach increases liquidity on L1, facilitates interaction between L1 & L2, boosts rewards for LP stakers, reduces security reliance on the volatility of the single $INIT token, and provides various other benefits.
InitiaDEX: InitiaDEX is the cornerstone of the Initia blockchain. It is a native DEX built on Layer1 using the Move language. InitiaDEX is not merely a trading platform; it is an integral component of the Omnitia ecosystem, designed to promote liquidity and ensure seamless interaction between Layer1 and Layer2.
VIP: Full name Vested Interest Program, Initia believes that as Rollups increase in number, issues such as inconsistent dApp incentives, underutilization of native tokens, and inefficient allocation of protocol-level incentives/subsidies frequently arise.
Funding Status
On September 25, 2024, Initia announced the completion of a $14 million Series A round and a $2.5 million community round, bringing total funding raised to $25 million. This includes a $7.5 million Seed round from October last year led by Binance Labs, Delphi Ventures, HackVC, among others. The team also revealed that mainnet launch and TGE will be completed in Q4.
