Initia

INIT supports a wide range of utility functions across both Initia L1 and the Interwoven Rollups:

Gas Fees: INIT can be used to pay transaction fees on Initia L1. Rollups may optionally adopt INIT as their gas token, or choose alternative denominations.

Liquidity & Swapping: INIT is the base asset on InitiaDEX, facilitating token swaps and cross-rollup liquidity. It also plays a key role in Enshrined Liquidity pools used for staking.

Staking & Security: INIT is involved in securing the network via a system where users stake LP positions containing INIT. This allows simultaneous participation in staking and liquidity provision.

Incentives & Rewards: Through the Vested Interest Program (VIP), INIT is distributed to rollup teams, users, and operators based on on-chain activity and contributions. Rewards are first escrowed (esINIT) and can be vested over time.

Governance: INIT holders participate in governance processes on Initia L1, such as rollup whitelisting and reward allocation decisions.

Bridging & Interoperability: INIT is used in bridging processes across Initia L1 and its rollups, leveraging both optimistic bridges and the IBC protocol. It exists in multiple formats (e.g. OpINIT, IbcOpINIT) to support cross-chain functionality.

Stability & Peg Mechanisms: INIT powers Minitswap and peg-keeping mechanisms that maintain token parity between layers and facilitate fast withdrawals without waiting for challenge periods.

Initia was co-founded by Stan Liu and Ezaan “Zon” Mangalji. Both founders previously worked at Terraform Labs, where they contributed to smart contract development and infrastructure research.

• Stan Liu is the CEO of Initia. His background includes research on miner-extractable value and protocol-level scalability.
• Ezaan Mangalji is a smart contract engineer with expertise in cross-chain development.

They created Initia to simplify the deployment of modular blockchains and to offer a unified infrastructure for developers building scalable, interoperable applications.