Initia: A brand new Web3 Rollup ecosystem

The rise of modular public chains has led to an explosive increase in the number of public chains. Data shows that there are currently 53 L2 public chains on the market, with another 42 under construction. While these public chains, designed for different scenarios, can meet diverse demands, they also bring issues such as complexity and fragmentation.

Against this backdrop, the modular project Initia launched by the Cosmos ecosystem has garnered widespread attention. Inspired by Apple’s design philosophy, Initia transforms blockchain into a form that is as easily accessible and integrable as iPhone applications, allowing users to enjoy an intuitive and interconnected blockchain application experience. The product suite of Initia covers multi-chain browsers, wallet tools, cross-chain bridges, centralized application platforms, and on-chain identity systems, aiming to build a unified and user-friendly blockchain ecosystem.

Currently, the Initia testnet has been launched, and the first round of airdrop plans has begun, rewarding early ecosystem contributors. After completing the testing, Initia is expected to officially launch its mainnet in the third quarter of this year. Its innovative design and complete ecosystem may reshape the blockchain landscape in the Web3 era.

The Vision and Team Background of Initia

The founding team of Initia consists of seasoned crypto experts Zon and Stan Liu, and has now grown to 20 people. These founders and researchers have extensive experience in building billion-dollar TVL applications across ecosystems such as Cosmos, Terra, and Ethereum. Zon has served as the chief architect and CTO of a certain company, while Stan Liu is a senior developer in the Ethereum ecosystem, having participated in the development of numerous well-known DeFi projects.

In October 2023, Initia completed a pre-seed financing round and established partnerships with projects under its investors, laying a solid foundation for future development. In February 2024, Initia secured an additional $7.5 million in seed funding, led by a certain investment institution, with participation from well-known angel investors. This funding will drive the development of Initia’s infrastructure and the expansion of product tools, as well as the incubation of key application layer projects, further promoting the growth of the Initia ecosystem.

Initia aims to provide users with a clear and unified full-chain Rollup ecosystem by integrating modular Layer 1 and exclusive Layer 2 solutions. It brings together the advantages of multiple mainstream public chains, creating a scalable and efficient application ecosystem for developers and users. Developers can quickly build cross-chain applications using the infrastructure provided by Initia; users can seamlessly enjoy a rich variety of DeFi, GameFi, Social, and other application services without the need to switch back and forth between different public chains.

Initia’s Product Ecosystem

To simplify the experience for users and developers, Initia offers a complete stack of technology and user products, including:

• InitiaScan: This is a user-centered interactive platform designed for navigation and building across multiple InitiaRollups, providing valuable insights and tools for developers, users, and more.
• Wallet Widget: As the front-end entry point of the Initia wallet solution, it provides users with the convenience of cross-chain wallet signing through an innovative social login method.
• Bridget: As a front-end bridge/entry aggregator, Bridget is directly integrated into various Rollup application layers within the Initia ecosystem, providing these Rollups with seamless asset cross-chain and deposit services.
• Initia Application: This is a centralized platform that integrates various resources and services within the Initia ecosystem, such as the Initia wallet, Initia username system, Bridget cross-chain bridge, etc., providing users with a one-stop Initia ecosystem experience.
• Initia Username: The Initia username system provides a simple, convenient, and easy-to-read way to access the account addresses of each Rollup on the Initia platform.
• Initia Wallet: The Initia Wallet offers unparalleled convenience as the unified center for navigating the Initia ecosystem. With features like social login, cross-chain exchange, and automatic routing, users can seamlessly manage their assets across multiple Rollups.

The Initia platform offers a complete suite of product-ready Rollup solutions, enabling teams to build scalable sovereign systems while eliminating the user experience complexities faced when interacting with a modular multichain universe. Users can freely explore various DApps and services within the Initia ecosystem, just like using a smartphone, without worrying about the differences in underlying public chains, enjoying a seamless crypto world.

Initia’s Layered Architecture

Initia adopts a layered modular design architecture, integrating innovative L1 with intertwined application-specific L2 infrastructure systems, reconstructing the entire technology stack, including components such as InitiaScan browser, Wallet Widget wallet tool, Bridget cross-chain bridge, and Initia applications. At the same time, with the layered modular architecture, developers can easily launch application-specific blockchains as Initia L2 without needing to understand complex chain-level infrastructure or operate a validator set.

The Initia architecture is mainly divided into 4 modules:

1. Initia Orchestration Layer (Layer 1): Initia has a main chain network called L1, which plays a key role in orchestrating and coordinating the entire ecosystem. The L1 layer is responsible for ensuring the fundamental functions of the entire system, such as security, liquidity, routing, and cross-chain interoperability. Unlike traditional single main chains, Initia’s L1 network adopts a more flexible and scalable design, laying a solid foundation for the development of upper-layer applications.

2. Initia Rollups (Layer 2): Another key component of the Initia platform is the independent Layer 2 network “Minitia.” Each Minitia focuses on specific application scenarios, such as financial services, gaming, or social networks, and can operate independently while maintaining a close connection to Layer 1. This design not only enhances the overall flexibility and scalability of the system but also enables Initia to better meet the needs of different application scenarios.

3. OPinit Stack: OPinit Stack is an OR framework built by Initia in CosmosSDK. This framework utilizes a certain data availability layer to support secure scaling across different virtual machines such as EVM, MoveVM, and WebAssembly. This means that developers can freely choose the most suitable virtual machine according to the needs of their applications without having to focus too much on the complex chain-level infrastructure.

4. Interoperability/Bridge Middleware: Interoperability/Bridge Middleware is another key component of the Initia platform, including cross-chain communication ( IBC ) protocol and TBA Bridge Provider. IBC supports instant communication and transfers between different blockchains through simple cross-chain messaging, helping Initia achieve seamless asset and data transfer between different blockchain networks.

The layered design of Initia grants it scalability and flexibility. The L1 main chain is responsible for core consensus and settlement, while Minitias focuses on performance-intensive applications, with both deeply integrated through the OPinit Stack. At the same time, interoperability/bridge middleware enables cross-layer asset and data interaction for Initia across different blockchain networks and within its ecosystem. This layered design not only addresses the complexity and fragmentation issues of multi-chain ecosystems but also greatly enhances user experience, laying a solid foundation for the development of a modular multi-chain universe.

Initia Ecosystem Project Overview

The Initia testnet has been launched, and the incentive airdrop has also begun. As a project dedicated to becoming a new benchmark in the blockchain field, Initia has attracted significant attention from the investment community. Some institutions predict that Initia may be poised to initiate Series A financing before the official launch of its mainnet in the third quarter of this year. At that time, some popular projects within the Initia ecosystem will undoubtedly receive great attention.

Currently, the projects worth paying attention to on the Initia ecosystem are:

1. Blackwing: A modular blockchain that enables leverage trading of long-tail assets without liquidation through an “infinite pool.” Utilizing Initia as its foundation, Blackwing allows traders to trade assets on any modular application chain without the need to transfer funds across networks, significantly reducing costs and enhancing security.

2. Tucana: A multi-functional L2 network in the Initia ecosystem that is intent-centered. Its core objective is to unify and optimize the trading experience across various modular networks. Through Tucana’s liquidity layer, users can seamlessly access thousands of modular networks, including limit orders, market orders, and perpetual contracts, thereby achieving seamless trading of multi-chain assets.

3. Controrg: An innovative project aimed at reshaping trading infrastructure. It attempts to build a brand new trading platform - GLOB Chain, through disruptive technological means. GLOB Chain adopts a progressive “order flow” execution mechanism, abandoning the traditional “instant order” model.

4. MilkyWay: A liquidity staking solution for a certain ecosystem. When users stake tokens in MilkyWay, they receive an on-chain token that represents the staking status. This allows token holders to gain liquidity on their staked assets, enabling them to trade or use it as collateral for various DeFi products.

5. Lunch: A consumer-oriented portal application utilizing Web3 technology. It combines a Web3 activity center with a payment application and plans to launch more products in the future, such as RWA. The core goal of Lunch is to significantly reduce the friction for users entering Web3.

Conclusion

Initia is committed to creating a seamless, powerful, and highly adaptable Web3 infrastructure based on innovative design concepts. Initia views each Rollup as an application, allowing developers to flexibly choose from virtual machine frameworks such as WASM, Move, EVM, and also to leverage core features provided by Initia, including local stablecoins, oracle services, and cross-chain interoperability.

This one-stop tool and infrastructure support effectively integrates decentralized blockchain projects, significantly lowering the user entry threshold and promoting the development of the Web3 ecosystem. Just as a certain technology company reshaped the smartphone ecosystem in the mobile internet era, Initia may, with its innovative concept, reconstruct the blockchain landscape in the Web3 era and become a new benchmark in the field.