Coin World News reports that the re-staking protocol Inception announced its termination of operations on July 11. The team stated that they failed to find a suitable product-market fit over the past two years, and the lack of liquidity rewards in the shared security mechanism also made it difficult for the protocol to continue progressing.
Inception was built on top of EigenLayer and completed a $3.5 million seed round financing in January this year, with investors including London Real Ventures, Gallet Capital, Metazero Capital, Kinetic Kollective, Zephyrus Capital, DSRV, Dewhales, Connectico Capital, Unreal Capital, and Absoluta Digital.