Binance Adds New Layer-1 Ethereum (ETH) Rival Initia (INIT) to Launchpool

The worlds largest crypto exchange platform by trading volume is adding a new layer-1 Ethereum (ETH) rival to its launchpool.

In a new announcement, Binance says its adding Initia (INIT), a blockchain designed to offer rollups and infrastructure for appchain development, to its launchpool.

“Binance is excited to announce the 68th project on Binance Launchpool – Initia (INIT), an L1 blockchain that unites appchains to unlock their full value through interwoven infrastructure and aligned economics.”

Binances launchpool was started in 2020 and is a platform that allows traders to earn new tokens passively by staking their existing assets.

According to its official website, Initia seeks to reduce the decision fatigue that blockchain and blockchain developers face as a means of improving how they operate.

The Interwoven Stack is Initias comprehensive, all-in-one solution designed to empower developers and teams in building and deploying rollups with unmatched ease and efficiency. Historically, building a rollup requires developers to research, select, and piece together numerous components and services…

[The] tasks divert time and resources from developers, preventing them from focusing on building their applications…

With this approach, developers can focus solely on building, improving, and shipping their applications, while the Interwoven Stack manages the heavy lifting of selecting the right tools and components for a performant and secure rollup, ensuring a smooth and optimal developer and user experience.

Generated Image: Midjourney