INIT Capital ($INIT) Airdrop Guide (Airdrop Soon)

Key Takeaways

  • INIT Capital is a DeFi company available on Blast and Mantle Layer-2 blockchains.
  • The project offers a liquidity layer that facilitates DeFi activities such as lending, borrowing, and yield strategies.
  • They have a point system live right now that is confirmed to lead into an airdrop at Phase 3 with the $INIT distribution.

What Is INIT Capital?

INIT Capital is a company focused on DeFi (Decentralized Finance) and acts as a liquidity hook money market. Here’s a breakdown of what they do:

  • Function – They aim to simplify liquidity access for DeFi users and decentralized applications (dApps).
  • Products – The project offers a liquidity layer that facilitates DeFi lending, borrowing, and yield strategies.
  • Services For dApps – They provide ‘Liquidity Hooks’ that function like plugins. dApps can integrate these hooks to access INIT’s liquidity and offer yield-generating features to their users.

How To Qualify For An Airdrop?

INIT Capital is conducting its airdrop through its “Liquidity Hook Era Phase 1” campaign. You can earn INIT points, which will convert into $INIT tokens during its Phase 3 campaign.

To join:

👉 STEP 1: Head over to INIT Capital’s website at https://app.init.capital/?chain=5000.

👉 STEP 2: Deposit or borrow an asset on the Mantle chain.

It is important to know that there are risks associated with this transaction because you are depositing a variable asset and the price is quite volatile. However, USDT is a stablecoin, so if the price of MNT goes down really fast, this position could be liquidated.

Therefore, you need to be careful, especially if you are lending and borrowing different assets that are not correlated. Watch the “Health Factor” and make sure that it does not reach equal to or less than 1 to avoid liquidation.

👉 STEP 3: Track your points in the Points Dashboard and hope for the best!

Note: 

  1. By lending some mETH on INIT Capital through the Mantle Network, you also earn Mantle Network points.
  1. In terms of maximizing your points, depositing earns you one point per $100, which you deposit onto the platform every 24 hours. If you borrow, however, you earn five points for every $100 over 24 hours.

Final Thoughts

Another important thing to mention is that when you interact with a DeFi protocol like this, you need to be aware of a smart contract risk. If the team rugs or there are bugs in the code, you could potentially lose your assets. And then, of course, there is also the liquidation risk that you need to be aware of if you are borrowing against the value of your collateral.

That’s about it for this airdrop guide! If you have any questions, please do not hesitate to contact us on our official social media channels. Good luck!

Via: 2Usethebitcoin.com

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