Binance Launches 68th New Coin Mining Project Initia on Launchpool
The leading exchange Binance has launched the 68th new coin mining project Initia (INIT) on Binance Launchpool. Binance users can participate in the new coin mining activity for a duration of 6 days by depositing BNB, FDUSD, and USDC into the INIT mining pool starting at 8:00 AM Taiwan Time on April 18, 2025.
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Announcement of the Initia Mining Pool
Last night, Binance announced that the 68th new coin mining project Initia (INIT) is now live on Binance Launchpool. Users can deposit BNB, FDUSD, and USDC into the INIT mining pool starting at 8:00 AM Taiwan Time on April 18, 2025, to participate in the new coin mining activity that lasts for 6 days. Furthermore, Binance announced that after the conclusion of the INIT new coin mining, INT will be listed on the Binance spot market at 7:00 PM Taiwan Time on April 24, and trading pairs INIT/USDT, INIT/USDC, INIT/BNB, INIT/FDUSD, and INIT/TRY will be opened, with seed tags added for the token.
Details of the INIT Mining Pool
According to the Binance announcement, the detailed information about the INIT mining pool includes:
- Token Name: Initia (INIT)
- Total Token Supply: 1 billion INIT
- Maximum Token Supply: 1 billion INIT
- Initial Circulation: 148,750,000 INIT (14.88% of total supply)
- Launchpool Total: 30 million INIT (3% of total supply), and it is worth noting that: 1) An additional 10 million INIT will be allocated in batches for marketing activities after the spot listing; 2) An additional 20 million INIT will be allocated in batches for marketing activities six months after the spot listing
- Listing Fee: Zero fee
- Restrictions: KYC required
- Individual 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 more information on how to participate in Binance Launchpool, please refer to the complete tutorial on “New Coin Mining” by Binance.
What is Initia?
Initia is a blockchain infrastructure project aimed at addressing the pain points of scalability, cost, and development complexity in current blockchain networks. The project proposes an innovative solution that combines Layer 1 consensus and security with Layer 2 efficient execution, achieving cross-chain interaction and application-specific optimized execution environments through “Interwoven Rollup” technology.
According to official information, the Initia ecosystem enables developers to quickly deploy customized Rollups (application-specific Layer 2 solutions) without delving into the complexities of underlying blockchain technology. This design lowers the development threshold while also achieving seamless flow of data and assets through cross-Rollup interoperability, laying a developmental foundation for applications in a multi-chain era.
Uses of the INIT Token
The INIT token serves multiple functions within the Initia ecosystem, including:
- Governance: INIT holders can participate in the decentralized governance of the ecosystem, voting on major issues such as protocol upgrades, Rollup integrations, and fund allocations.
- Transaction Fees: INIT is used to pay 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 the security of the network.
INIT Token Economics
The native token of Initia, INIT, is central to its ecosystem, with a total supply of 1 billion tokens. The initial circulation is 148.75 million tokens, accounting for 14.875% of the total supply. Currently, aside from the 30 million tokens allocated for mining on Binance Launchpool (3% of total supply), the official details regarding other token allocations have not been disclosed.
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