Binance Launchpool’s INIT Project Prepares for Major Exchange Listings
Initia, Binance Launchpool’s 68th project, is gearing up for a wave of major exchange listings as its six-day farming period is drawing to a close.
The highly anticipated Initia (INIT) project, featured on Binance Launchpool, is set to make its debut on several leading exchanges. Binance will officially list INIT on April 24 at 11:00 UTC, marking a significant milestone for the project. In addition to Binance, other centralized exchanges such as MEXC, Bybit, Gate.io, Bitget, and KuCoin have also confirmed listings for the same day.
The listings come on the heels of a successful six-day farming period on Binance Launchpool, where users had the opportunity to earn INIT tokens by staking Binance Coin (BNB), USD Coin (USDC), or FDUSD from April 18 to April 23. A total of 30 million INIT tokens, equivalent to 3% of the total token supply, were allocated as farming rewards, with no platform fees charged for participation.
Initia: A Game-Changing Layer 1 Blockchain
Initia is a revolutionary Layer 1 blockchain that is specifically designed to support appchain deployment and enhance liquidity through its innovative Enshrined Liquidity and modular Interwoven Stack features. According to CryptoRank.io, the project has garnered $25 million in total funding across various rounds, including pre-seed, seed, Series A, and private token sale rounds. Notable investors backing Initia include Theory VC, Delhi Ventures, and Hack VC.
The native token of Initia, INIT, has a fixed supply of 1 billion tokens. Half of this token supply is evenly divided between staking rewards via the Enshrined Liquidity mechanism and the Vested Interest Program.
Token Distribution and Allocation
Developers and early investors will receive a combined 30.25% of the token supply, subject to a four-year vesting schedule that includes a one-year lock-up followed by a three-year linear release. Additionally, the Initia Foundation has been allocated 7.75% of the token supply to support strategic initiatives, bootstrap liquidity, and foster ecosystem growth.
To incentivize exchange liquidity and community engagement, 6% of the total token supply has been reserved for Binance’s Launch Campaign. Another 5% is allocated for an airdrop to early users and testers, which can be claimed immediately at launch. An additional 1% of the token supply has been set aside for participants of the Echo.xyz community sale, with tokens unlocking gradually over a two-year period.