INIT Capital Secures Position in $200M Catalyzed Capital Pool From Mantle EcoFund, Paving Way to Become the Go-to Liquidity Hook Money Market
Coming Soon January 2024
INIT Capital is delighted to announce that INIT has been selected as a Mantle EcoFund portfolio project, granting access to one of the largest ecosystem funds with a catalyzed capital pool of $200M. This support will assist INIT to bootstrap initial liquidity on Mantle, expediting INIT’s journey to become the go-to Liquidity Hook money market. Simultaneously, INIT will play a pivotal role in fostering Mantle into one of the most robust and sustainable yield-offering ecosystems within the DeFi space.
Mantle has one of the highest capitalized treasuries amongst all Layer 2s, and Mantle EcoFund is an ecosystem venture fund established by the Mantle community through DAO governance to help fuel the growth of Mantle. The Mantle EcoFund aims to:
- Support founders and tech partners in Mantle Ecosystem.
- Drive adoption of Mantle Network among developers and dApps.
- Incentivize reputable Strategic Venture Partners to invest in Mantle Ecosystem.
- Ensure the EcoFund’s sustainability through performance and returns.
Additionally, in accordance with Mantle Governance proposal MIP-28, INIT will get access to Mantle Treasury’s allocation of up to 300M USDx, 250K ETH, 2K BTC and 400M MNT, in addition to infrastructure support.
INIT Capital x Mantle Synergistic Partnership to Fuel DeFi Growth
INIT will serve as the base liquidity layer for Mantle, allowing other protocols to build ‘Liquidity Hooks’ to get liquidity for a host of strategies. This makes bootstrapping liquidity on Mantle much more capital efficient and easier for all protocols. The Liquidity Hooks built on INIT will enable end users to execute various yield generation strategies in 1-click on a unified platform. Moreover, INIT’s collaborates with the native DEX on Mantle to support their LP tokens as collateral, creating a tightly integrated and capital-efficient DeFi ecosystem on Mantle and positioning it as one of the most sustainable yield-offering ecosystems in DeFi.
INIT Capital is committed to deliver the best experience to dApps and users via Liquidity Hooks, and hence, it is essential to integrate with a blockchain ecosystem like Mantle, renowned for offering high security and scalability. Mantle Network’s innovative modular Ethereum rollup design, featuring a separate data availability layer powered by EigenDA technology, enables INIT to provide hyperscale performance, lower gas fees, and robust security for all on-chain transactions. Thus, this strategic integration will significantly enhance the overall user experience.
In addition, Mantle’s focus on yield-bearing assets, such as stETH, their native Mantle LSP (mETH), and Ondo’s USDY, alongside its rebasing wrapped version mUSD, is poised to increase capital efficiency and enable DeFi protocols to build various yield generation strategies. When combined with INIT’s modular architecture and composability features, such as Multi-Silo positions and LP as collateral, that ensure users can open risk-independent positions, users gain access to high and sustainable yield opportunities.
“INIT Capital’s collaboration with Mantle opens a new realm of opportunities for both DeFi protocols and users, as it eliminates the hassle of bootstrapping liquidity and finding optimal yield offerings all on a single platform. We’re geared up to support INIT Capital’s launch in January,” shared Gabriel Gareth Foo, DeFi growth lead at Mantle.
About INIT Capital
INIT Capital is built as the liquidity hook money market that streamlines the process for both end users and dApps. INIT aims to function as the liquidity layer, facilitating DeFi activities (lending, borrowing, and yield strategies) 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 from dApps through INIT.
INIT is essentially where dApps and users meet, with access to unified liquidity and without the need to look elsewhere.
