According to the official blog, Binance Labs announced an investment in Initia. The funds raised have not been disclosed yet. The funds raised will be used to support the development of Initia infrastructure and developer tools.
It is reported that Initia is L1 on Cosmos, using OP Rollup's application-specific L2. Through Initia's architecture, including L1, L2, and communication layers, developers can easily launch application-specific blockchains based on Initia L2 without having to understand complex chain-level infrastructure or run a validator set.
