INIT on Blast Phase 1: Money Market — Now Live
Deposit, Borrow or Refer for Blast Boost Rewards and INIT Points
INIT on Blast Phase 1: Money Market is live!
Similarly to ‘Phase 0: Blast Ultimate Boost’, with 1-click, you can Deposit, Borrow, or Refer on INIT and enjoy rewards from three fronts: Blast Gold, INIT Points, and Blast Points.
And the best part is, you can still get a weight boost on top of your Blast Gold when opening positions to further stack up your rewards.
INIT on Blast Phase 1 Reward System
Phase 1: Money Market will run for a week from 20 March — 27 March 2024 at 8:00 AM UTC.
Available assets: $ETH and $USDB
Deposit to Get Blast Gold Boost, INIT Points, and Blast Points
1. Blast Gold: Depositors will get a 1.8x weight boost when opening a position in Phase 1. This boost will increase by 10% every 7 days. Refer to the full Blast boost calculation details here.
80% of Blast Gold received from the Blast team will be distributed to Depositors on INIT, shared by volume. The longer you hold your position, the higher boost you’ll get.
Note that, INIT does not restrict users to lock and hold their positions. Users can withdraw liquidity at any time.
2. INIT Point: Deposit to earn 1 INIT point for every $100 value deposited per 24 hours.
3. Blast Point: Simply holding assets on the Blast network, including deposits on INIT on Blast, gets you Blast points.
Borrow to Get Blast Gold, INIT Points, and Blast Points
1. Blast Gold: 20% of Blast Gold received from the Blast team will be distributed to Borrowers on INIT, shared by volume.
2. INIT Point: Borrow to earn 5 INIT points for every $100 value borrowed per 24 hours.
3. Blast Point: Simply holding assets on the Blast network gets you Blast points.
Earn 10% More Rewards Through Referrals
Referrals will work the same. Refer and earn 10% of the Blast Gold and INIT Point earned by every member you refer to from depositing and borrowing activity.
Simply post your invitation code with the hashtag #LiquidityHookEra on Twitter to make a referral.
As long as your referee continues to earn points from any chain (Blast/Mantle), you, the referrer, will continuously receive 10% of their points.
Enjoy INIT on Blast Money Market and accumulate as many rewards as possible before INIT introduces its first ever Hook on Blast soon!
Stay alert so you don’t miss out on any of the benefits INIT has in store for you.
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.
