Introduction
INIT Capital is a liquidity hook money market that functions as the liquidity layer, facilitating DeFi activities for users and fostering use cases for dApps to build on top of. With INIT as the base liquidity layer, users can seamlessly access and manage yield strategies, including looping, margin trading, leveraged yield farm and more from dApps through INIT.
INIT is where dApps and users meet, with access to unified liquidity without looking elsewhere.
Official Links
- dApp: https://app.init.capital
- Website: https://init.capital/
- Documentation: https://docs.init.capital
- Twitter: x.com
- Discord: INIT Capital
Value Proposition
Many DeFi protocols struggle to access liquidity in money markets due to their lack of composability, thereby capping protocol growth. To solve this problem, INIT Capital, the liquidity hook money market that prioritizes composability, is introduced to enable protocols to seamlessly integrate their applications with a significant source of liquidity and build ‘Hooks’/yield strategies.
With multi-silo positions, flash borrow, and other features, such as LP tokens as a collateral type, INIT allows the most composability and interoperability for protocols to create a variety of new use cases, such as looping, margin trading, leveraged yield farming, and more. Meanwhile, users can explore these strategies through a single interface while isolating the risks for each position.
INIT Capital is currently available on both Mantle and Blast. It is the largest money market on Mantle and Blast’s second-largest money market, with a combined TVL of over $113 million.
Security
INIT Capital has undergone seven audits by PeckShield, Spareware Security, Trust Security and open invitational security organizations like Code4rena.
The reports from each audit can be found here.
Fundraising
INIT Capital raised $3.1M in a seed investment round announced on February 21, 2024, led by Electric Capital and Mirana Ventures. Additional firms participating in the round include Maelstrom Fund, Robot Ventures, Faction, Nomad Capital, Tangent, Bankless Ventures, and Selini Capital.
Synergy with Mitosis and EOL
This benefits those looking to utilize INIT Capital with the assets named in the rewards proposal, providing additional yield for those assets while maintaining some exposure to INIT.
EOL participants who provide liquidity INIT will receive INIT points representing their stake and contributions to the overall success of INIT Capital and its community. The more points accumulated, the more rewards can be redeemed at the end of the campaign.
The liquidity provided by Mitosis EOL across various chains and protocols utilizing INIT liquidity will support INIT Capital’s growth.
INIT’s engagement with the Mitosis community will now begin to acclimate the community to INIT and its associated ecosystem, which will benefit both parties in the future.
Conclusion
INIT and Mitosis are looking to power the development of multi-chain liquidity protocols with both offerings. This positions both organizations to benefit from the other’s close proximity. With the advent of the Mitosis Chain approaching, this is ever more important to consider for builders with an interest in building on Mitosis and being well supported by protocols already in place and well accepted by the community.
