Initia (INIT) perpetual market

Initia is a layer-1 blockchain designed to coordinate a network of interconnected application-specific rollups, which it calls an interwoven rollups architecture. Built using the Cosmos SDK and CometBFT, Initia provides a base layer alongside a framework for launching customizable rollups that share security, liquidity and tooling with the main chain, aiming to reduce the fragmentation common across multichain ecosystems. Applications can run in different virtual machine environments while remaining connected through Initia's shared infrastructure and standardized bridging. The INIT token is the network's native asset, used to pay transaction fees, secure the chain through staking, participate in governance and serve as a common settlement and liquidity asset across the connected rollups. Initia's model ties the economic activity of its rollups back to the base layer. It is a newer entrant positioned within the modular and appchain segment of the blockchain landscape.