The Inception protocol, built on EigenLayer, has announced that it will be winding down its operations.

On July 11th, Inception, a re-staking protocol built on EigenLayer, announced that it will cease operations. The announcement stated that Inception did not find a suitable product-market fit over the past two years. Furthermore, the lack of liquidity rewards in shared security made it difficult for the protocol to continue its path forward.

In January of this year, Inception announced the completion of a $3.5 million seed round funding, with participation from London Real Ventures, Gallet Capital, Metazero Capital, Kinetic Kollective, Zephyrus Capital, DSRV, Dewhales, Connectico Capital, Unreal Capital, Absoluta Digital, and others.