Introducing INIT on Blast: Blast Ultimate Boost Phase 2
Resume Your Ultimate Boost On Blast Rewards Through Blast Phase 2 On INIT!
INIT’s Liquidity Hook Money Market will continue bringing the rewards from Blast Phase 2 to its users along with bringing Blast’s native yield to its highest potential.
Within 1 click, you can continue to Deposit, Borrow, and/or Refer on INIT and enjoy rewards from three fronts: Blast Gold, Blast Points, and INIT Points.
TLDR: Loyal INIT users on Blast who stick around from before July 8 will be rewarded with 3x Base Gold Boost.
Read on for more details on collecting the highest boost on INIT on Blast.
INIT on Blast Reward System
In a nutshell, INIT users will get:
- Blast Gold — Translates to BLAST airdrop. 100% Blast Gold will be distributed directly to INIT users.
- Blast Point — Translates to BLAST airdrop. Holding ETH, USDB, and BLAST on INIT on Blast is also eligible.
- INIT Point — A means to reward your continuous contributions to the INIT ecosystem.
Blast Ultimate Boost Phase 2
Deposit on INIT to Get the Ultimate Boost of Blast Gold, INIT Points, and Blast Points
Given Depositors are vital to continue the growth flywheel, they will receive the highest incentives with Blast Gold — 80% of the total received by INIT.
Those who deposit before 8 July, 8AM UTC will also receive a special boost.
- Blast Gold
Depositors will get a 3x weighted boost when opening a position BEFORE 8 July, 8AM UTC. This boost will increase by 10% every 14 days.
The longer you hold your position, the higher boost you’ll get.
For example,
- 6 July: User A deposits 2 ETH with 3.00x weight boost on INIT. INIT will see the position as 6 ETH to calculate the Blast Gold.
- 20 July (1+14): User A will receive a 3.30x weight boost (a 10% increase from the initial 3x weight boost), and this boost will continue to increase every 14 days.
Therefore, on Day 14, INIT will calculate the position as 6.6 ETH.
- 3 August (1+ 28): User A will receive a 3.63x weight boost (a 10% increase from the previous 3.3x weight boost).
Therefore, on Day 28, INIT will calculate the position as 7.26 ETH.
The 3x boost represents the highest starting weighted boost rate exclusively for loyal users who stick around with INIT on Blast before July 8, 8AM UTC.
Therefore, Depositors who deposit before July 8, 8AM UTC, will keep the 3x base boost which will put them in the most advantageous position.
For Depositors who open their positions after 8 July, 8AM UTC, they will receive a 2x weighted boost, which will be used as a base to calculate the 10% boost every 14 days.
To provide users with flexibility in managing their positions, INIT does not restrict users to lock and hold their positions. Users can withdraw liquidity at any time.
- INIT Points: Deposit to earn 1 INIT point for every $100 value per 24 hours.
- Blast Point: Deposits of ETH, USDB, and BLAST in INIT on Blast get you Blast points, as shown on the INIT App.
Borrow on INIT to Get Blast Gold, INIT Points, and Blast Points
- Blast Gold: The remaining 20% of Blast Gold received from Blast will be distributed to Borrowers on INIT, shared by volume.
- INIT Point: Borrow to earn 5 INIT points for every $100 value borrowed per 24 hours.
- Blast Points: Simply hold ETH, USDB, and/or BLAST on the Blast network to get Blast points
Earn 10% More Points Through Referrals
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.
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.
