Introducing Initia (INIT) to Binance Launchpool

Users will be able to earn Initia (INIT) tokens on Binance by staking their BNB, USDC or FDUSD

Binance, the world's leading cryptocurrency exchange, has announced Initia as the next project to be featured on their Binance Launchpool staking platform.

Announcing @initia on Binance Launchpool!

Farm $INIT by locking BNB, FDUSD and USDC.

Find out more 🔗https://t.co/bexgxNS05D pic.twitter.com/3PjU8F0wRm

The Initia (INIT) tokens will be distributed to users who stake their BNB, USDC or FDUSD between April 18 at 0:00 AM UTC and April 23 at 23:59 UTC.

Earn INIT on Binance

The total amount of INIT tokens that will be allocated to users through the Launchpool is 3% of the total INIT token supply, which translates to 30 million INIT tokens out of the 1 billion total token supply.

Out of this, 85% will go to the BNB staking pool, 10% to the USDC staking pool and 5% to the FDUSD staking pool. It should be noted that the amount of INIT you earn depends on how big your stake is, relative to the size of the entire staking pool.

There is also an hourly cap in place, dictating how much INIT users can earn in an hour - for BNB stakers it's 17,708 INIT per user, while the cap for USDC is 2,088 INIT and the cap for FDUSD stakers is 1,041 INIT.

After the end of the Initia Launchpool campaign, INIT will be listed on Binance on April 24 at 11:00 UTC in trading pairs against USDT, BND, FDUSD, USDC and TRY.

What is Initia (INIT)?

Initia is a layer 1 blockchain platform that serves as the coordination layer for an ecosystem of customizable layer 2 blockchains. The Initia project has created the Interwoven Stack, which is a framework for creating rollups and applications in the Initia ecosystem.

The Initia layer 1 is build using the Cosmos SDK and ensures security, liquidity and interoperability for the rollups built on top of it. The Initia layer 1 is also used to facilitate incentive programs to boost the activity and liquidity of the Initia ecosystem. In addition, it hosts the InitiaDEX decentralized exchange, which serves as the central liquidity hub for rollups. InitiaDEX features the Enshrined Liquidity mechanism, which enables selected liquidity pairs to function as staking assets for the Initia layer 1.

Rollups built on top of the Initia layer 1 are scalable and highly customizable, as developers have the ability to choose between different virtual machines (EVM, Move or Wasm), create their own gas tokens and fee structure, and customize their rollup's transaction ordering mechanism.

Another highlight of Initia is VIP (Vested Interest Program), which programmatically rewards activities that are deemed economically valuable for the Initia ecosystem.

If you want to learn more about the Initia platform in detail, we recommend you take a look at the project's official documentation.

How to earn INIT tokens on Binance Launchpool

If you want to earn Initia farming rewards, you'll need a Binance account.Create Binance Account

Please keep in mind that only users who complete an identity verification process with Binance are eligible to participate in INIT token farming on Binance Launchpool.

Once your account is ready, you'll need some BNB, FDUSD or USDC tokens to stake. If you already own these tokens, you can deposit some to your Binance account. Otherwise, Binance offers plenty of ways to buy them with crypto or fiat.

After your account is verified and loaded with BNB, FDUSD or USDC, go to the menu on the top side of the Binance interface and select "More." Then, go to "Launchpool."

Then, find the available farming pools. Depending on which tokens you want to stake, select the BNB, FDUSD or the USDC. Then, follow the instructions provided by the exchange.

Please keep in mind that the screenshot below is from a previous Launchpool project, since Binance hasn't updated their website yet to include the Initia Launchpool at the time of writing this article.

As a final note, here's a quick breakdown of key dates and information about the Initia Launchpool campaign: