Inception is the most slept-on LRT with just $3 million in TVL.
Which is 2,166 times lower than EtherFi's TVL ($6.25 billion).
I ignored it because it was only on the mainnet, but we can now stack this with other opportunities on tokenless L2s.
Here’s how I positioned myself for this airdrop (a campaign ends on 30 June):
Inception Overview
@InceptionLRT is another LRT protocol, similar to EtherFi, Renzo, Kelp, and the rest.
I have no idea how much they raised.
As usual, they have a points system (called Totems), based on how much ETH you’ve deposited:
0.1 ETH deposited/day earns you 100 Totems, which could qualify you for Inception’s airdrop.
Staking ETH for inETH on the mainnet is reasonable at low gwei.
I spent $1.05 at 2.4 gwei to deposit ETH:
But apart from the mainnet, inETH is available on other L2s:
Linea
Blast
Mode
BSC
Optimism
And you earn 5x Totems by using inETH in DeFi protocols.
Inception runs a multichain campaign (ends 30 June), and I plan to use this to increase my Totem score:
Inception Heist (on Intract)
There are 4 quests to complete on Intract, which involves:
Bridging inETH to an L2
Providing inETH liquidity on a DEX
The quest is available on these 4 networks:
BNB Chain
Linea
Mode
Blast
3 of them (excluding Mode) give you a Discord role, which could be a multiplier for the airdrop.
But the quests took ages to verify, and I had to contact Intract's support before I could clear the on-chain tasks.
I was able to verify these tasks by bridging/LP-ing with a small amount.
Even if you miss this campaign, I’d still do these tasks since you can stack them with other airdrops:
Linea
Adding inETH liquidity is a nice 2-in-1 since you earn LXP-L in Linea Surge.
The only supported pool is on Lynex:
Similar to zkSync, the higher the time and duration that you provided liquidity, the greater your LXP-L.
If you have not joined Linea Surge yet, feel free to use my referral below:
Blast
The airdrop campaign for Blast may be over, but this route could stack 2 other airdrops on this L2:
Create a WETH/inETH position on @ThrusterFi
Stake the position on @hyperlockfi (additional yield)
These positions still accrue Thruster and Hyperlock points, which could be useful for their airdrops.
However, I’ve had issues with staking my LP with Hyperlock, and it took a while before my positions were updated on the DApp.
Mode
My liquidity is being held hostage by @modenetwork since I was in the top 2k.
So I added my funds to the inETH/WETH pool on @kimprotocol, while earning points for Mode's S2 drop.
At least the gas fees are cheap here.
BSC
The inETH/ETH pool on Thena has a decent yield, but I'm only adding the bare minimum since Thena already has a token.
And my funds would be better off in either Blast or Linea.
I was able to verify the Intract tasks even with $0.10 of liquidity deposited.
Bridge
Inception uses Connext’s xERC20 token standard. And you can bridge between L2s without involving Ethereum.
There may be a chance for a second NEXT airdrop just by using the bridge organically.
The fees are cheap, and you only need to pay gas fees when claiming on the destination chain.
TLDR of This Strategy
Stake ETH for inETH on Ethereum at low gwei
Use the inETH bridge powered by Connext (possible drop #2)
Add liquidity to inETH LPs (5X Totem multiplier)
After staking to inETH on the mainnet, don't forget to claim this Galxe quest too:
If you found value in this guide, feel free to use my referral link below:
Thanks for reading!
If you want more like this join my Discord server for more exclusive alpha.
