InceptionLRT

A new Bitcoin-backed stablecoin USBD is emerging, applying the same principle wealthy individuals like Elon Musk and Jeff Bezos use when borrowing against their assets. Instead of selling BTC, holders can mint USBD by using their Bitcoin as collateral. This follows Coinbase's earlier move into Bitcoin-backed loans, where US users (excluding NY) can borrow USDC against their BTC holdings. The service, powered by Morpho Labs on Base, aims to streamline crypto borrowing. - No need to sell Bitcoin to access liquidity - Loans process takes under a minute - Available through Coinbase app - More collateral options planned

Euler Finance has announced a significant update to their routing mechanism. The protocol is implementing changes that will enhance transaction efficiency and reduce gas costs. - New routing algorithm optimizes path selection - Integration with Arrakis Finance expands liquidity options - Implementation scheduled for April 2025 These updates aim to improve capital efficiency while maintaining the protocol's security standards. Users should prepare for the transition by reviewing the updated documentation.

A technical discussion exploring the intersection of restaking and Bitcoin-backed stablecoins is scheduled for April 17, 1:00 PM UTC. The event features two key speakers: - Representatives from BimaBTC discussing USBD development using Bitcoin LSTs - Filipe from Inception LRT sharing insights on restaking technology Join the live conversation on Twitter Spaces to learn about these emerging DeFi innovations. [Join the Discussion](https://x.com/i/spaces/1mrxmPbbaqVJy)

Shared security is transforming how DeFi protocols secure themselves, moving from isolated models to a networked approach. Key protocols like EigenLayer, Symbiotic, and Babylon are pioneering shared security infrastructures that allow multiple protocols to leverage a common security layer instead of building their own. This improves capital efficiency and enables smaller networks to inherit security from larger ones. However, an aggregation layer is needed to coordinate security resources across different ecosystems efficiently. Inception is building this infrastructure to harmonize economic security across multiple networks and restaking models.

Symbiotic has launched with support from major industry players including MEV Capital, Chorus One, and RockX. These curators are developing specialized security frameworks on the platform. Key Discussion Points: - Future of shared security infrastructure - Curator and LRT (Liquid Restaking Token) roles - Integration possibilities with Ethereum and DeFi Join the technical discussion with Symbiotic and MEV Capital on March 27 at 4:00 PM UTC to explore these developments. [Learn more about curator participation](https://www.inceptionlrt.com/blog/symbiotic-curated-vaults/)

InceptionLRT has launched the **Totems Hub**, a new dashboard for tracking participation rewards. Users earn Totems through: - Restaking assets (0.001-1 ETH = 10-1000 Totems daily) - Referring new users - Community engagement The update includes: - Real-time Totem tracking - Global leaderboards - Artifacts (achievement badges) - Daily check-in bonuses A new Profile Page allows wallet connection to Discord and email, with 1000 bonus Totems per connected channel. [Visit Totems Hub](https://www.inceptionlrt.com/app/totem-hub/)

InceptionLRT announces attendance at ETHDenver 2025 (Feb 24-28) following a landmark year in 2024. Key achievements include: - Mainnet launch with Isolated LRTs and Native ETH LRT support - Expansion to 10+ chains with 57 new DeFi integrations - Launch of Flash Unstake module for instant withdrawals - UI redesign with Lite and Advanced modes - Strategic merger with Amphor Protocol ($222M TVL) - Launch of inwstETHs on Symbiotic ($48M TVL) Total platform TVL reached $120M in 2024. The team will be available at ETHDenver to discuss restaking innovations and future plans. [Event Details](https://www.inceptionlrt.com/blog/inceptionLRT-ethdenver-2025/)

Two significant EigenLayer developments have been announced: - Important updates to EigenLayer vaults are now available at [Inception's blog](https://www.inceptionlrt.com/blog/eigenlayer-update/) - The Eigen Foundation launched 'EigenLayer Unlocked' - a comprehensive educational initiative featuring 25 deep dives into the ecosystem. This series brings together leading builders to explore EigenLayer's capabilities and potential. The educational series aims to provide detailed insights into the EigenLayer ecosystem through collaboration with @therollupco and various industry experts.

Recent analysis reveals significant centralization in the restaking ecosystem: - 5 Liquid Restaking Tokens (LRTs) control ~60% of restaked assets - 10 node operators manage ~75% of all restaked assets - EigenLayer's TVL has grown over 600% in 2024 This concentration of power raises concerns about decentralization in the restaking sector. Industry experts are calling for discussions on power distribution mechanisms. Learn more in the detailed report: [Eigenlayer Infrastructure Report](https://www.inceptionlrt.com/blog/eigenlayer-infrastructure/)

**Key Updates:** - Symbiotic's TVL is heavily concentrated, with 64.27% from wstETH - MEV Capital and Etherfi manage over $130M in vaults - Lido's TVL reached $26.98B, up 4.72% - 186,676 wstETH now on L2 networks (+0.63%) **L2 Distribution Highlights:** - Arbitrum leads with 85,595 wstETH - Optimism follows at 32,929 wstETH - Notable growth on zkSync (+96.19%) **Market Activity:** - Weekly trading volume up 18.76% to $1.14B - stETH APR at 2.80% - 28,160 ETH net unstaked