As shared with BSC News, Binance Labs, the venture arm of Binance, has invested in Initia - a new layer-1 blockchain network “designed for highly interwoven modular rollups”.

Binance Labs’ commitment to reducing friction for developers is typified by its latest investment announcement into Initia. The Initia platform itself is constructed to abstract away much of the friction and complexities often associated with the manufacture of traditional modular and multichain systems. 

“Binance Labs is continually identifying infrastructure providers introducing novel solutions to accelerate the growth of Web3 applications. Initia’s innovative architecture and tooling is a step forward towards widespread adoption among a new wave of developers”, said Yi He, Co-Founder of Binance and Head of Binance Labs.

Initia is built on Cosmos and is geared specifically around layer-2 scalability networks leveraging optimistic rollups. According to a release shared with BSC News, by using Initia, “developers can easily launch application-specific blockchains without needing to know complex chain-level infrastructure”.

Interestingly, Initia uses the Move virtual machine, making it the first network to bring the Move smart contract language, as employed by the likes of Aptos and Sui, to the Cosmos interoperable ecosystem. Furthermore, Initia’s architecture also allows layer-2 networks to “utilize EVM, WasmVM, or MoveVM while facilitating seamless messaging and bridging between them”.

Initia’s team itself hails from major technology companies in the traditional sector, and is flush with experience building multi-billion dollar TVL applications across both Cosmos and Ethereum.

According to Stan Liu, a Core Contributor of Initia, "We are thrilled to have Binance Labs as an early partner to accelerate the growth of Initia’s highly performant hub and bespoke blockchain platform. In collaboration with Binance Labs, Initia aims to underpin an interconnected ecosystem of applications, while simultaneously aligning the economic interests of all L1/2 users and operators."

About Initia

According to the release, Initia is a network for 0-to-1 omnichain rollups built by fusing a novel L1 with an interwoven application-specific L2 infrastructure system. The Initia Platform provides product ready rollups that enables teams to build scalable and sovereign systems while eliminating the UX complexities end users face when interacting with a modular multi-chain universe. Initia’s ownership of the full tech stack allows for a suite of chain-level mechanisms that align the economic interests across users, developers, L2 app chains, and the L1.