Author: NingNing Source: X, @0xNing0x

After reading the Initia VIP (Vested Interest Program) plan Blog, my heart feels sad and resonates.

With the end of the Rollup infrastructure and the rise of AppChain, the Web3 industry has entered an era of excess block space, and the supply economics pursued by the Ethereum community has become A bit outdated.

In the past, we only focused on the supply side, regardless of whether the project was good or bad. Even if the project developed had only single-digit users and no growth potential, we would still have no choice but to focus on the supply side. The effectiveness of the way the brain motivates developers has been falsified in reality.

Typical Grant programs such as Arbitrum and Starknet have become symbols of DAO governance corruption and a petri dish for zombie dApps. As the world enters the new era of Trump, the encryption industry is accelerating and is about to embark on true mass adoption of Web3. In such a general environment, the target of industry alignment has finally shifted from to CZ and to Vitalik to to consumers and to users.

The sooner protocols/projects/developers are aware of this change, the better they can take the lead in the new era of mass adoption of Web3. As we all know, the Cosmos ecosystem is always 1 Epoch ahead of the Ethereum community. There is the modularization cycle of Celesita in the front and the Initia of the chain abstraction cycle in the back.

The basic design principle of the Initia VIP plan is to rebalance and align rewards for ecological roles such as AppChain, governance nodes and users, and encourage them to participate responsibly in the L1 consensus Security and governance, healthy consumption of block space. In terms of specific design, Initia pays tribute to BeraChain's token economic model, perfectly integrating the essence of the industry's two cycle token economics design experience - Ve (3, 3) and escrow (native token).

Initia changes the standard paradigm of PoS chain token economics. In addition to using esINST to reward governance nodes, esINST is directly rewarded to AppCha.in and end users. Initia has specially designed the esINST unlocking mechanism, which requires users to keep their VIP score above a specific threshold to fully unlock it, motivating them to continue to actively consume block space. Or users can pledge the received esINST to L1’s Enshrined liquidity pool to enhance the liquidity, interoperability and security of the entire Initia ecosystem.

Initia not only wants its native token INST to have the standard currency status of ETH in the Ethereum ecosystem, but also wants to rebalance the governance nodes, AppChain, and end users interests and responsibilities, while avoiding the misalignment between the fragmentation of the Cosmos ecosystem and the incentives of the Ethereum ecosystem.

PS. In fact, this is also the reason why I want to buy Fat Penguin NFT. I have a strong feeling that the era of mass consumption of Web3 is coming, and currency speculation is no longer the only application scenario in the industry. The Fat Penguin NFT is the VIP ticket for this new era of Web3.

And of course the golden shovel to get the potentially epic MeMe coin $PENGU and the Web3 Disney @AbstractChain airdrop.