According to TechFlow, the full-chain Rollup network Initia officially posted on social media that it has completed a US$2.5 million community round of financing through the Echo platform, with a total of 8.12 million community investors participating, and the financing was completed within 2 hours.

The financing was conducted via a token purchase agreement and was valued at $250 million, a 28.57% discount to Initia’s Series A financing (valued at $350 million).