Binance Labs recently announced its investment in the Layer 1 network Initia. The specific investment amount has not been disclosed. It is understood that the funds raised will be used to support the development of Initia infrastructure and developer tools.

Initia is a Cosmos-based Move Layer 1 network with application-specific Layer 2 using OP Rollup. Through Initia's architecture, which includes Layer 1, Layer 2, and communication layers, developers can easily launch application-specific blockchains based on Initia Layer 2 without having to understand complex chain-level infrastructure or run a validator set.