The restaking protocol Inception, built on EigenLayer, has announced that it will cease operations.

On July 11, Inception, a restaking protocol built on EigenLayer, announced that it would cease operations. The announcement stated that Inception has not found a suitable product market fit in the past two years. In addition, the lack of liquidity rewards in shared security made it impossible for the protocol to continue.

In January of this year, Inception announced the completion of a $3.50 million seed round of financing, with participation from London Real Ventures, Gallet Capital, Metazero Capital, Kinetic Kollective, Zephyrus Capital, DSRV, Dewhales, Connectico Capital, Unreal Capital, Absoluta Digital, and others.