Initia Foundation 🪢

Initia Foundation has approved funding to fully restore the 1:1 backing for affected Noble USDC, WETH, and AUSD0 held as iUSD collateral.

Funding will cover verified shortfalls up to 1.08M USDC, 105 ETH, and 1.4M AUSD0 following reconciliation and final transfer approval.

The Initia Foundation has put forth two proposal to refresh its delegations to validators and to reduce the active validator set.

Together, these proposals aim to ensure Initia’s validator set is:
✦ Optimized for network growth through both technical excellence and strategic ecosystem contributions; and
✦ Fairly compensated for their services.

This proposal does not affect the annual staking inflation rate in any way.

For more details read the Forum posts:
- forum.initia.xyz/t/initia-found…
- forum.initia.xyz/t/active-valid…

We like the bribes.

Starting tomorrow, the Initia Foundation’s VIP Bribe Match Program goes into effect.

The Foundation will match 50% of all bribes on @CabalVIP with up to 5,000 INIT per appchain, per VIP stage.

Final Reminder: The Unstaking Subsidy claims have been extended for 24 hours.

If you are eligible, be sure to claim by August 4rd at 1 PM UTC.

Claims for the Initia Foundation's Unstaking Subsidy Plan are now open: app.initia.xyz

Eligible users who were unstaking between June 2 and June 23 at 6:00 AM UTC can claim a partial subsidy for missed staking rewards.

Claims will remain open until August 3rd at 12 PM UTC.