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Project Overview
Initia is a network for 0-to-1 omnichain rollups built by fusing a novel L1 with an interwoven application-specific L2 infrastructure system. The Initia Platform provides product ready rollups that enables teams to build scalable and sovereign systems while eliminating the UX complexities end users face when interacting with a modular multi-chain universe. Initia’s ownership of the full tech stack allows for a suite of chain-level mechanisms that align the economic interests across users, developers, L2 app chains, and the L1.
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Coinbase Suspends Trading of 25 Perpetual Contracts and Completes Auto-Settlement
According to an official announcement, Coinbase has suspended trading of 25 perpetual contracts, as previously announced. All outstanding positions in these contracts have been automatically settled at the final settlement price. The affected contracts include TRB, RARE, NEIRO, A, ME, XTZ, KMNO, RAY, STX, ENS, GMT, SNX, 1000FLOKI, 0G, ORDI, NIL, BIO, UMA, BEAM, INIT, SOMI, EGLD, CLANKER, SOPH, and BIGTIME. The final settlement price was calculated as the average index price over the 60 minutes preceding the suspension. Coinbase stated that this action aims to focus on products that consistently meet liquidity and market quality standards, and that it will accelerate the launch of new perpetual contracts by optimizing internal processes.
This week, tokens including ZRO, XPL, and KAITO will undergo large-scale unlocks.
Token unlocks data shows that major token unlocks are scheduled this week for ZRO, XPL, KAITO, and others. LayerZero (ZRO) will unlock 25.71 million tokens on April 20, valued at approximately $40.4 million—5.34% of its total supply. Humanity (H) will unlock 105 million tokens on April 25, valued at approximately $10.8 million—4.02% of its circulating supply. Plasma (XPL) will unlock 88.89 million tokens on April 25, valued at approximately $9.4 million—3.83% of its circulating supply. Hyperlane (HYPER) will unlock 89.75 million tokens on April 22, valued at approximately $8.6 million—94.37% of its circulating supply. Limitless (LMTS) will unlock 85.37 million tokens on April 22, valued at approximately $8.5 million—64.99% of its circulating supply. KAITO (KAITO) will unlock 17.6 million tokens on April 20, valued at approximately $8.1 million—4.93% of its circulating supply. Initia (INIT) will unlock 82.94 million tokens on April 24, valued at approximately $7.8 million—45.18% of its circulating supply. SoSoValue (SOSO) will unlock on April 24.