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Binance Labs Invested in Layer 1 Network Initia

Binance Labs has announced an undisclosed investment in Initia, a Layer 1 network. The funds raised will be used to support the development of Initia's infrastructure and developer tools. Initia is a Layer 1 on Cosmos with application-specific L2s (Layer 2) using Optimistic rollups. Through Initia's architecture, encompassing the Layer 1, Layer 2, and communication layers, developers can easily launch application-specific blockchains as Initia L2s without needing to know complex chain-level infrastructure or run validator sets. The platform enables developers to build scalable and sovereign systems while abstracting away the fragmentation and complexities encountered with traditional modular and multi-chain systems.

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