lewdeus.init | 🎲 civitia arc 🎲

initia genesis validator | all commissions go to rolling dice | civita referral code: 5MX49C

[zon 🪢 @ItsAlwaysZonny]

Initia Chain Upgrade Proposal 1 has been released!

A very necessary upgrade that sets up future improvements and fixes some initial mistakes but will not be loved by all (especially farmers)!

So what's in the proposal?

1. A reduction in inflation rate to the intended (5% of the staking pool)/yr.

The intended emission rate planned and in the official tokenomics + docs is (5% of the staking pool)/yr or 1.25% of total supply. However at launch this was improperly applied, resulting in emissions being set to (5% of the total supply)/yr.

This results in 4x the amount of intended inflation for staking/enshrined liquidity on the L1 which is NOT good!

🫱 High inflation is a much loved phenomenon from dying L1s. Why? It directly competes with opportunities in the economy and encourages users to "hold" tokens rather than "use" tokens. In this case, lowering L1 staking opportunities and increasing esINIT rewards from VIP on a relative basis encourages stronger participation and exploration amongst appchains.

🤜 With the current inflation rate, Initia is emitting about 1 months worth of "normal" inflation per week.

👉 A gradual reduction was considered however given unbonding takes 21 days, reductions wouldn't do anything unless they were done over many months and Initia needs to put VIP and using appchains first.

Surely due to this some users will unbond their INIT-USDC from Enshrined Liquidity. For those that unbond but want to stick around, there's plenty of opportunities across the Interwoven Economy which are yielding 100%+ from VIP for actually using products!

Some examples:
- https://t.co/B5Di3ntBqg
- https://t.co/cmXFjCKgzj
- https://t.co/fOeTJfSdom
- https://t.co/MmL8A9LlWw
- https://t.co/n4Rt34xeA6

I detailed all these thoughts about high inflation cannibalizing the economy back in March in this article from Initia Main: https://t.co/idW1jtfUon.

Glad to see this mistake be corrected and focus incentives towards the growth of apps.

2. L1 set OP Withdrawal Periods

Interwoven Rollups may decide how assets are bridged to their chain: IBC or OP Bridge. There's a tradeoff here between speed and security, with IBC being fast in both directions but less secure and OP being slow on withdrawals but safe if a rollup is hacked.

For initial mainnet launch it's important to prioritize security with most teams choosing to use the OP bridge for assets. However OP bridge withdrawal periods are currently set by each L2 individually and the default is 7 days.

This upgrade enables L1 governance to adjust the withdrawal period for all rollups — this will then allow Initia to ensure all rollups have the same withdrawal period time and also potentially decrease the default the existing/default to something like 3 days.

At the same time, Initia is developing a standard that combines both speed and security for withdrawals. We are keen to release this in a few months!

3. There are some updates on Emergency Proposals and IBC Hook validation to enable flows from Noble.

Lastly, going forward, all future Initia Chain Upgrade Proposals will be required to have a minimum 24 hour period in the forums to collect feedback and iterate first. This must come with clear note on the date each proposal is expected to go on-chain.

If you have different views to the proposal that is A-OK! Feel free to leave your structured and well presented thoughts on the Forum as the vote lasts 7 days. This is where discussion will and should take place as twitter / discord are not the right places.

Thanks and Happy Governancing!

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

@0xJESSIE_ am i gmi

[KillChain 🪢 @killchain]

🎲 Civitia Practical Tips Live Completed!!

Currently, @civitiaorg is in the lobby phase, so actual gameplay isn’t available yet
However, I hosted a live guide session using the Docs and some in game screenshots I had taken earlier

I have been participating in every Civitia testnet without missing a single round since it first launched during the @initia incentive testnet in June last year, and I've built up a lot of know how
Based on that experience, I was able to share some really useful practical tips with the community users 😎👍

Civitia is currently the most popular Interwoven rollup, with the largest number of experienced testnet players
Thanks to that, it always ranks high in VIP voting as well

I can’t wait for the day when we can actually play together!! 🫡

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

where my tokyomon's at? @civitiaorg

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

.@initia 🫡

[Initia 🪢 @initia]

$INIT is now listed on @binance!

[Initia 🪢 @initia]

An application's final destination.

Initia Mainnet is live.

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

@initia 🔥🔥🔥

[The Cabal @CabalFDN]

You were right, The Cabal is real 🪢

Cabal, a Very Important Protocol for @Initia's VIP, is officially coming out of stealth with $3M raised from Hack, Delphi, and Nascent.

A short post on what this means for the Interwoven Economy:

Built on Initia's Layer 1, Cabal is the hidden hand behind Initia's VIP rewards. Cabal amasses governance power by allowing users to deposit INIT and Enshrined Liquidity positions for liquid, yield-generating assets.

And that's where the games begin...

Interwoven rollups can bribe Cabal depositors to allocate them a greater share of VIP incentives each epoch.

Cabal maximizes yield outcomes for $INIT holders while boosting liquidity, visibility, and rewards for rollups.

We are also honored to have the support of @hack_vc, @Delphi_Ventures, @nascentxyz, rfv enthusiast @dcfgod, angels from @LayerZero_Core, gigabrains @daryllautk & @darrenlautf, defi savoooor @n2ckchong, and aspiring kol @chainyoda, amongst many others.

The Cabal is finally here, and it is interwoven 🪢

[Initia 🪢 @initia]

the greatest fully onchain game ever created.

@kamigotchiworld becomes interwoven 🪢 with @CelestiaOrg underneath ✨

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

please be patient I am interwoven

[jessie 🪢 @0xJESSIE_]

please be patient I am interwoven

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

Any one wanna put a bailout package together for Jump?

[larry_engineer @larry0x]

Cosmos eco fighting on whether to make a $2m bailout while Jump casually bailing out Wormhole for $320m is kinda funny

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

@TeamKujira Why is team selling then?

https://t.co/gFXbr4P3hr

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

@levelsio Ty

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

@MerchantMoe_xyz Can you revamp your liquidity book vault all it does is lose money like how

[Initia 🪢 @initia]

Initia VIP is a new multi-chain economic framework that drives INIT to be the foundational asset of a new world.

Through programmatically parameterizing the distribution of INIT, VIP creates economic alignment tying the network of interwoven rollups together.

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

@aribk24 I’m in

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

@marczeller @base @bgdlabs @chaoslabs @Token_Logic @acier @karpatkey @DeFi_EzR3aL @aave wen solana

[lewdeus.init | 🎲 civitia arc 🎲 @lewdeus_]

Constantly on position 30+ on cursor 😭

[Divergent 🪙 @Divergent_XBT]

1/ 🧵I think crypto space doesn't pay enough attention to #Initia and most testnet participants perceive it as another testnet with potential rewards.

From what I've seen during the time of the testnet, it is so much more than just another project, protocol or rollup network.