Binance, the leading cryptocurrency exchange, announced last night in a notice that Binance Launchpool has launched the 68th new token mining project, Initia (INIT). Binance users can start investing BNB, FDUSD, and USDC into the INIT mining pool from 8:00 AM Taiwan time on April 18, 2025, participating in a 6-day new token mining activity.
Additionally, Binance announced that after the INIT new token mining ends, it will list INIT on the Binance spot market at 7:00 PM Taiwan time on April 24, and open trading pairs for INIT/USDT, INIT/USDC, INIT/BNB, INIT/FDUSD, and INIT/TRY, while adding a seed tag for the token.
INIT Mining Pool Detailed Information
According to the Binance announcement, the INIT mining pool details include:
- Token Name: Initia (INIT)
- Total Token Supply: 1 billion INIT
- Maximum Token Supply: 1 billion INIT
- Initial Circulating Supply: 148,750,000 INIT (14.88% of total supply)
- Launchpool Total: 30 million INIT (3% of total supply), with notable points: 1) An additional 10 million INIT will be distributed in batches for marketing activities after spot listing; 2) An additional 20 million INIT will be distributed in batches for marketing activities 6 months after spot listing
- Listing Fee: Zero fee
- Restriction: KYC required
- Personal Hourly Mining Cap: 1) BNB Pool: 17,708.33 INIT; 2) FDUSD Pool: 1,041.66 INIT; 3) USDC Pool: 2,088.33 INIT
Note: For how to participate in Binance Launchpool, refer to »Binance "New Token Mining" Complete Tutorial
What is Initia?
Initia is a blockchain infrastructure project aimed at solving current blockchain network pain points in scalability, cost, and development complexity. The project proposes an innovative solution that combines Layer 1 consensus and security with Layer 2's efficient execution, achieving cross-chain interaction and application-specific optimized execution environments through "Interwoven Rollup" technology.
According to official data, Initia's ecosystem allows developers to quickly deploy customized Rollups (application-specific Layer 2 solutions) without delving into the complexities of underlying blockchain technology. This design not only lowers the development threshold but also enables seamless data and asset flow through cross-Rollup interoperability, potentially laying the foundation for application ecosystems in the multi-chain era.
INIT Token Use Cases
The INIT token serves multiple functions in the Initia ecosystem, specifically including:
- Governance: INIT holders can participate in the ecosystem's decentralized governance, voting on major matters such as protocol upgrades, Rollup integration, and fund allocation.
- Transaction Fees: INIT is used to pay for transaction fees within the Initia ecosystem, especially for transactions executed in application-specific Rollups.
- Staking and Incentives: Users can stake INIT to earn rewards while enhancing network security.
INIT Token Economics
Initia's native token INIT is the core of its ecosystem, with a total supply of 1 billion tokens. The initial circulating supply is 148.75 million tokens, accounting for 14.875% of the total supply. Currently, apart from the 30 million tokens allocated to Binance Launchpool mining (3% of total supply), the official has not disclosed other details about token distribution.
