🚨 Initia is back online — but $INIT is still down nearly 27%
After the October 23 MoveVM exploit, Initia restarted its L1 and rollups on November 2
The team says backing for AUSD0, USDC.n and WETH has been fully restored
But restoring the network doesn't instantly restore liquidity or confidence
$INIT
🔒 WETH and AUSD0 withdrawals through LayerZero OFTs face a 24-hour processing period
⏳ Noble USDC withdrawals remain subject to hourly limits
Meanwhile, Binance data shows an unusual divergence 👇
INIT Futures price: −27% in 24 hours
Open Interest measured in INIT: −1.5%
Open Interest measured in USD: −31.1%
That USD decline partly reflects falling token prices — not necessarily a mass exit from Futures positions
📌 For holders, the next test is reliable bridge withdrawals, usable DEX liquidity and the full security post-mortem
A chain can restart in one day
Rebuilding market trust takes more evidence
#INIT #Initia #defi
After the October 23 MoveVM exploit, Initia restarted its L1 and rollups on November 2
The team says backing for AUSD0, USDC.n and WETH has been fully restored
But restoring the network doesn't instantly restore liquidity or confidence
$INIT
🔒 WETH and AUSD0 withdrawals through LayerZero OFTs face a 24-hour processing period
⏳ Noble USDC withdrawals remain subject to hourly limits
Meanwhile, Binance data shows an unusual divergence 👇
INIT Futures price: −27% in 24 hours
Open Interest measured in INIT: −1.5%
Open Interest measured in USD: −31.1%
That USD decline partly reflects falling token prices — not necessarily a mass exit from Futures positions
📌 For holders, the next test is reliable bridge withdrawals, usable DEX liquidity and the full security post-mortem
A chain can restart in one day
Rebuilding market trust takes more evidence
#INIT #Initia #defi
