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The cryptocurrency exchange Binance is launching a new altcoin project called Initia (INIT) as part of its 68th Launchpool initiative. Users will have the opportunity to earn INIT coins by locking their assets in BNB, FDUSD, and USDC starting from April 18, 2025, at 03:00 UTC. To participate in the Launchpool, users must complete Binance’s KYC verification processes. The listing of the altcoin will occur on April 24, 2025, at 14:00 UTC.
Details of Initia Altcoin and Binance Launchpool
Initia is developed using Layer-1 Blockchain technology, aiming to integrate application chains to achieve maximum value. The total supply and maximum supply of INIT coins are set at 1 billion. During the Launchpool event, 30 million INIT coins, representing 3% of the total supply, will be distributed to users.
In the Launchpool event, 25.5 million INIT coins (85%) will be distributed from the BNB pool, 1.5 million INIT coins (5%) from the FDUSD pool, and 3 million INIT coins (10%) from the USDC pool. There is a limit to the hourly coin earnings per user. Users can earn a maximum of 17,708 INIT coins from the BNB pool, 1,041 INIT coins from the FDUSD pool, and 2,088 INIT coins from the USDC pool.
The initial circulating supply of INIT coins is set at 148.75 million. Additionally, it was announced that a total of 30 million INIT coins will be reserved for subsequent marketing campaigns following the Binance listing. The first portion will be distributed immediately after the spot listing, and the second portion will be distributed six months after the listing.
Binance is expected to open the official Launchpool page approximately 12 hours before the event begins.
Binance Warns About INIT Coin Listing
Binance has emphasized that it will be the first exchange to list the INIT coin, warning users that claims of sales before the announced date may be fraudulent attempts. Users are urged to conduct their own research to protect their investments.
