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One common paradox faced by Layer 1 blockchains today is the need to enable application-specific Layer 2 chains. This is because not every application can coexist within the same blockchain environment. Developers desire the freedom to customize their solutions.
However, when each appchain makes independent design decisions, it results in fragmentation, leading to appchains leaving the Layer 1 blockchain. Ethereum, Cosmos, Avalanche, and Polkadot have all experienced similar issues.
Initia, which is launching its mainnet today, aims to pursue the appchain vision while avoiding fragmentation pitfalls. Appchains built on Initia benefit from a unified tech stack known as the “Interwoven Stack.”
All Initia appchains adhere to the same standards and utilize a common set of tools and protocols. This includes a canonical bridge (LayerZero), cross-chain messaging (Cosmos IBC), underlying framework (Cosmos SDK), standardized gas token (native USDC via Noble), and a data availability layer (Celestia).
Appchains can choose their preferred execution environment, with teams building on the Interwoven Stack split between EVM, MoveVM, and WasmVM. Additionally, they can leverage shared MEV infrastructure such as POB and Protorev, along with common tools like Connect, Initia Multisig, Initiascan, and Initia Username.
The goal is to provide essential public goods that enable a diverse ecosystem of builders to operate on common standards without facing fragmentation issues.
Initia’s Architecture
The Initia L1 runs on MoveVM and CometBFT consensus with single-slot finality and a 500 ms block time. It serves as a liquidity hub similar to the Cosmos Hub, with INIT token holders able to stake their tokens to earn rewards and trading fees on Minitswap, the native DEX.
Appchains on Initia have customization options and can internalize their MEV, ensuring their native tokens remain on the L1 where liquidity is highest. The Vested Interest Program (VIP) rewards appchains based on TVL and governance metrics to prevent the lack of value accrual experienced by other blockchains.
Initia Launch
Initia has raised $25 million through private rounds and an Echo round in September 2024. At least 18 teams are building on the Interwoven Stack, collectively raising $28 million. INIT token goes live today.