Binance, a leading cryptocurrency exchange, has announced the launch of a new altcoin called Initia (INIT) as part of its 68th Launchpool initiative. Starting April 18, 2025, users can earn INIT tokens by locking in BNB, FDUSD, and USDC. Participation requires users to complete Binance’s KYC verification. The official listing for Initia is set for April 24, 2025, at 14:00 UTC.
What is Initia Coin and How Does It Work?
Initia operates on Layer-1 Blockchain technology, designed to integrate multiple application chains for optimal value creation. The total and maximum supply of INIT is capped at 1 billion coins, with 30 million (3% of total supply) allocated for the initial Launchpool distribution.
How Will INIT Coins Be Distributed?
During the Launchpool event, the distribution of INIT coins will be as follows: 25.5 million coins (85%) from the BNB pool, 1.5 million (5%) from the FDUSD pool, and 3 million (10%) from the USDC pool. Each user is limited to a maximum hourly earning of INIT coins based on their chosen pool.
The circulating supply at launch will be 148.75 million coins, with another 30 million reserved for future marketing efforts, split into two distributions post-listing.
What Should Users Be Aware of Before Investing?
Binance has issued a warning regarding the INIT coin’s listing, stating it will be the first exchange to offer the new token. Users are cautioned to be vigilant against potential scams claiming to sell the coin before its official date, emphasizing the importance of conducting thorough research to safeguard their investments.
– Initia coin will launch on April 24, 2025, with specific pools for distribution.
– 30 million INIT coins will be initially available for users to earn.
– Binance warns against fraudulent pre-sale attempts of the INIT token.
As the cryptocurrency landscape continues to evolve, initiatives like Initia reflect the ongoing innovation in the sector, promising new opportunities for users and investors alike.
