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%

TL;DR: Initia will distribute 50 million INIT tokens ahead of its mainnet launch. The majority of the recipients will be users who took part in its testnet programs in 2024.

Of the 1 billion tokens that make up the total supply, the airdrop amounts to 5%, with 90% going to 194,294 accounts that completed tasks on the testnet. These programs involved on-chain activity such as interacting with Jennie, a virtual pet designed to test Initia’s infrastructure, or performing simple tasks on the testnet UI.

Those who actively used LayerZero, IBC, and MilkyWay will receive a total of 2.25 million INIT, 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.

After the mainnet launch, users will have 30 days to claim their tokens.

Initia is developing a Layer 1 blockchain along with a system of interconnected optimistic rollups. This structure enables the deployment of solutions that combine compatibility with multiple virtual machines, including EVM, MoveVM, and WasmVM. Its aim is to optimize transaction processing and ordering within the Cosmos ecosystem.

Already, more than a dozen projects are building Layer 2 networks on this platform. The project has obtained over $24 million in funding from investors such as YZi Labs, Delphi Ventures, and Hack VC.

Its most recent funding installment valued the token at $350 million, compared to an earlier valuation of $250 million.