The L1 blockchain Initia has announced an airdrop of 50 million INIT tokens ahead of the launch of its mainnet.
This is reported by Business • Media
The project team plans to distribute the tokens as follows:
- 90% of the supply (approximately 44.7 million tokens) will be allocated to users who participated in activities on the Initia testnet in 2024. Specifically, 194,294 users engaged in interactive blockchain tasks, including raising a virtual pet named Jennie;
- 4.5% (about 2.25 million INIT) will go to active users of Initia’s partner networks — LayerZero, IBC, and MilkyWay;
- 6% (nearly 3 million INIT) will be awarded to social media participants who actively interacted with Initia on Discord, Telegram, and X.
“The distribution of INIT tokens gives early supporters the opportunity to influence the development of Initia,” noted the Initia Foundation.
It was mentioned that internal participants (team and investors) will not take part in the airdrop. Other users can check their wallets for eligibility criteria on the official Initia website, and tokens will be available for distribution within 30 days after the mainnet launch.
As a reminder, the Layer 1 network Initia raised $14 million last year from Theory Ventures, Delphi Ventures, Hack VC, and angel investors in a Series A funding round.
In the Incrypted Airdrops Telegram channel, you can find information about current airdrops via the link.