TL;DR
- Initia will distribute 50 million INIT tokens, representing 5% of the total supply, with 90% allocated to 194,294 users who participated in its testnets in 2024.
- The blockchain combines a Layer 1 with optimistic rollups and integrates multiple virtual machines like EVM, MoveVM, and WasmVM to optimize transactions in the Cosmos ecosystem.
- It has raised over $24 million, and its latest funding round valued the token at $350 million. More than a dozen projects are already building on its infrastructure.
Initia will distribute 50 million INIT tokens before the launch of its mainnet. The majority of recipients will be users who participated in its testnet programs in 2024.
Of the 1 billion tokens comprising the total supply, the airdrop represents 5%, with 90% allocated to 194,294 accounts that completed tasks on the testnet. These programs included on-chain activities such as interaction with Jennie, a virtual pet designed to assess Initia’s infrastructure.
How will INITIA’s tokens be distributed?
The remaining 10% will be divided among users of partner networks and social contributors. 2.25 million INIT will be allocated to those who actively used LayerZero, IBC, and MilkyWay, while 3 million will go to those who helped grow the community on Discord, Telegram, and X. The foundation has confirmed that internal members will not be included in the distribution. Users will be able to verify their eligibility and claim their tokens within 30 days of the mainnet launch.
Initia is developing a Layer 1 blockchain along with a system of interconnected optimistic rollups. This structure allows the deployment of solutions that combine compatibility with multiple virtual machines, including EVM, MoveVM, and WasmVM. Its goal is to optimize transaction processing and ordering within the Cosmos ecosystem. More than a dozen projects are already building Layer 2 networks on this platform.
A Foundation for All Kinds of Projects
The project has raised over $24 million from investors such as YZi Labs, Delphi Ventures, and Hack VC. Its most recent funding round valued the token at $350 million, while an earlier one set it at $250 million.
The token distribution will help solidify a community committed to developing the ecosystem. Initia expects its mainnet to serve as the foundation for applications ranging from DeFi protocols to fully on-chain games and NFTs
