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INIT Airdrop Guide

RazzaerUpdated Published 1 min read
Status:Ended

Action Required

Lend & Borrow

WebsiteXDiscord
Visit Project Site

Claim Checklist

Connect wallet & Add Mantle L2
Bridge funds to Mantle
Complete onboarding tasks
Depositing and Borrowing Assets
Maximizing Points
INIT Airdrop Guide

INIT is a DeFi platform operating on Mantle L2 and Blast L2 networks. The platform has introduced a points system that leads to an airdrop in Phase 3 of their distribution. Recently, INIT Capital raised $3.1 million, showcasing its substantial backing and innovative approach to leveraging Ethereum L2 solutions for airdrop farming and yield farming. This guide will provide step-by-step instructions on how to maximize your points on the INIT platform to qualify for the airdrop.

Eligibility
Paid
Chain
ethereum
Difficulty
Difficult
Category
lending

How to Check and Claim

How to Claim Your INIT Tokens

1

Connect wallet & Add Mantle L2

Visit the INIT website and connect your EVM wallet. After doing this you will either be prompted to add Mantle L2 if you don’t already have it just to switch to the Mantle network if you have it.

2

Bridge funds to Mantle

Use the Stargate Bridge to move some funds from another chain such as ETH mainnet or Arbitrum to Mantle. I recommend either Mantle or USDE (Ethena Finance) token to use for lending.

3

Complete onboarding tasks

Complete the starter tasks which involve join the discord, following INIT on twitter and entering a referral code for 10% extra points. If you haven’t done so already enter FB95D1.

4

Depositing and Borrowing Assets

  • Go to the ‘Market’ tab on the INIT platform.
  • Choose an asset to deposit. Click the purple button to initiate the deposit.
  • To borrow, click on ‘Deposit and Borrow’ after selecting the asset to deposit. Choose another asset against which you will borrow.
  • Deposit USDE (ethena) to earn Ethena Finance SATS as well.
  • Confirm the transaction in your wallet to complete the deposit and borrowing process.
5

Maximizing Points

  • Depositing assets earns you one point per $100 for every 24 hours.
  • Borrowing assets earns you five points per $100 for every 24-hour period.
  • Utilize the ‘Hook’ feature to automatically leverage your positions. This feature allows for more points by enabling repeated borrowing against newly deposited collateral in a looped process.
6

Managing Risks and Monitoring Health Factor

  • Be aware of the risks involved with variable assets and stablecoins. Ensure your health factor remains above one to prevent liquidation.
  • Regularly monitor the APY rates and health factor of your positions to manage your borrowing and lending effectively. Add INIT to the airdrop tracker to set your reminders to check.

Additional Information

  • The assets available for borrowing and depositing include several stablecoins, Mantle tokens, Bitcoin, and ETH.
  • Specific assets like USDE from Athena Finance and METH from Mantle can earn additional airdrops and staking yields.
  • The Hook feature simplifies the process of leveraging and is currently available for a limited number of assets.
  • Monitor your positions on the ‘Dashboard’ and manage them through the platform’s user interface to ensure optimal performance and safety.

Not financial advice. I explain how these tools work and what they cost me; check the details yourself before moving money. Last reviewed .

Razzaer (@Razzaer)

I use Solana daily and provide liquidity on Meteora. These guides come from what I do myself; drafts are AI-assisted and I check every one. More about me · X · YouTube

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