From Vanilla to Matrix: The Lifecycle of Liquidity in Mitosis

Introduction
In Mitosis, providing liquidity is designed to be both simple for beginners and powerful for advanced users. This guide walks through the entire lifecycle of liquidity on Mitosis – from the moment you deposit your assets (and receive Vanilla Assets in return) to engaging with either EOL or Matrix campaigns, and finally to withdrawing your funds. By the end, you’ll understand how Mitosis transforms a basic deposit into a dynamic, yield-earning position in DeFi.

Step 1: Deposit Assets and Get Vanilla Assets

The journey begins with a deposit. When you deposit supported assets (like ETH, USDC, or other tokens) into Mitosis Vaults on any supported chain, Mitosis locks those assets and mints an equivalent amount of Vanilla Assets on the Mitosis Chain​. Vanilla Assets are 1:1 tokenized representations of your original deposit in the Mitosis ecosystem. They hold the same value as your deposited tokens but live on the Mitosis Chain, giving you a sort of “voucher” for your liquidity. At this stage, your Vanilla Assets are not yet earning yield – they are a neutral holding, preserving your liquidity in Mitosis without any alterations.

• Example: Deposit 10 ETH into a Mitosis Vault on Ethereum. You will receive 10 vETH (Vanilla ETH) on the Mitosis Chain, representing your deposited ETH one-to-one​. You still effectively “own” 10 ETH, but now in the form of vETH, which you can use within Mitosis.

Why Vanilla Assets? Vanilla Assets serve as the base layer of liquidity in Mitosis. By holding your deposit as a Vanilla Asset, you maintain full control and the ability to move or withdraw at any time (by redeeming it for the original asset), unless you decide to put it to work. Think of Vanilla Assets as a waiting room for your funds – they’re ready for whatever you decide next, but impose no commitments on their own​.

Tip: You can simply hold or transfer your Vanilla Assets if you’re not ready to commit to a strategy. They ensure your liquidity stays accessible and cross-chain portable within Mitosis, without forcing you into any yield program until you choose one​.

Step 2: Choose a Liquidity Path – EOL or Matrix

Once you have Vanilla Assets, Mitosis offers two distinct frameworks to put those assets to work: Ecosystem-Owned Liquidity (EOL) or Matrix campaigns​. You can pick either (or a mix of both, even splitting your assets) depending on your goals and risk preference:

a. EOL (Ecosystem-Owned Liquidity) – Community Pool & Governance
If you seek a hands-off, collective strategy with governance perks, EOL is the path. Contributing Vanilla Assets to an EOL vault converts them into miAssets (Mitosis Assets)​. miAssets represent your share in a community-managed liquidity pool and are yield-bearing. In EOL, all contributors’ assets are pooled and deployed according to DAO governance decisions – Mitosis holders vote on how to allocate this liquidity to various DeFi protocols or chains​. In return, miAsset holders earn a portion of Omni-sourced yield from all the strategies the pool engages in (trading fees, lending interest, etc.), and gain voting rights in the Mitosis DAO on how that liquidity is used​

• What you get: If you supplied Vanilla Assets to EOL, you receive equivalent miAssets (e.g. deposit vETH, get miETH). These tokens continuously accrue yield and can even be used in other DeFi applications while you earn​. miAssets also confer governance power – you can vote on proposals such as which new protocol to support or how to adjust strategy, truly participating in the ecosystem’s direction​. This is why EOL is described as “ecosystem-owned” liquidity; the liquidity isn’t controlled by any single whale or team, but by the collective of miAsset holders via transparent on-chain votes​.
• Benefit: EOL is great for a long-term, “set-and-forget” approach. Your assets join a large pool, accessing opportunities often reserved for big players (now achieved collectively)​. You don’t have to micromanage yields; the community and Mitosis infrastructure optimize the strategy. It’s like joining a DeFi index fund where you also have a say in management.

b. Matrix (Liquidity Campaigns) – Targeted Yield Campaigns
If you prefer a more tailored and potentially higher-yield strategy, you can commit your Vanilla Assets to a Matrix campaign. Matrix is Mitosis’ flagship product for curated liquidity opportunities with predefined terms​. When you join a Matrix vault, your Vanilla Assets are locked into a specific campaign (often partnering with a DeFi project) for a set duration, and you receive maAssets (Matrix Assets) in return​. maAssets represent your staked position in that campaign and entitle you to the campaign’s rewards.

• What you get: Committing to a Matrix campaign yields a campaign-specific maAsset (e.g. locking vETH in the 90-day “Theo” campaign gives you maETH for that campaign). Your maAssets will earn enhanced rewards – these could be high APR yields, partner protocol tokens, and/or Mitosis incentives, depending on the campaign terms​. Each Matrix vault is transparent about its reward structure and duration upfront. During the campaign, your maAsset can often be used within the Mitosis ecosystem similarly to miAssets (tradable or usable elsewhere), which means your liquidity isn’t completely tied down​.
• Benefit: Matrix campaigns typically offer higher yields for commitment. By agreeing to lock your liquidity for a period, you might earn significantly more than in open-ended pools – for example, a Matrix vault might advertise ~45% APR on a new project’s liquidity mining​. It’s ideal for users who want to actively seek exclusive DeFi opportunities. Because these deals are curated, Matrix acts like your DeFi concierge: it finds vetted, high-yield opportunities across multiple chains and protocols and lets you participate easily​

c. You Can Mix Both: The beauty of Mitosis is you aren’t forced to choose one or the other globally. You might put some of your Vanilla Assets into EOL for steady community-driven returns, and some into a Matrix campaign for a specific high-yield burst. Either way, your Vanilla Assets are the ticket – you convert them into miAssets or maAssets as you prefer​

Beginner Perspective: If you’re unsure which to choose, EOL is generally simpler and more predictable (like earning yield from a collective fund). Matrix campaigns require a bit more research (each campaign has its own rules and risk profile), but Mitosis provides all the details beforehand. Many newcomers start with EOL to familiarize themselves with Mitosis, then venture into Matrix deals once comfortable.

Step 3: Earn, Monitor, and Manage

Once your assets are in either EOL or Matrix, the lifecycle enters a “growth” phase. Here’s what happens and what you should do:

• Earning Yields: If in EOL, your miAssets will automatically accumulate your share of the yields generated by the entire pool (e.g. interest, trading fees, farming rewards). If in a Matrix campaign, your maAssets will accrue the specific rewards of that campaign (e.g. reward tokens or boosted yield) over the campaign’s duration​. You don’t need to manually claim rewards frequently; Mitosis handles distribution, though some campaigns might have mid-way claim options for certain rewards. The key is that value is growing in your position tokens (miAsset or maAsset) as time goes on.
• Monitoring: Mitosis provides a dashboard to track your positions. You can see your Vanilla Assets, any active miAssets and maAssets, and their current value (including accrued rewards). Thanks to Mitosis’ transparent accounting, you’ll always know the value of your positions and the yields earned​. For example, if you have maUSDC from a Matrix campaign, the interface might show how much extra USDC or partner tokens you’ve earned so far. Because Mitosis turns liquidity into programmable tokens, you could even see market prices for your position tokens if you choose to trade them before the campaign ends (though that’s an advanced move)​.
• Managing/Utilizing Positions: Your miAssets and maAssets aren’t locked in a display case – they’re composable. You can transfer or even trade these tokens, or use them elsewhere in DeFi for stacking additional yields. For instance, you might use miETH (from EOL) as collateral on another lending platform, achieving “yield on top of yield” since miETH earns from Mitosis and also from the external platform​. Mitosis is built to ensure that even while your liquidity is committed, it can still work for you in other ways. This is a core advantage: liquidity becomes a layer you can build on, not a dead-end lockup.

Step 4: Exit – Withdraw or Roll Over

Every campaign or strategy eventually comes to an end, or you may simply want to unlock your funds. Exiting Mitosis and retrieving your original assets is straightforward:

• Withdrawing from EOL: EOL is flexible by design. You can at any time choose to withdraw from the EOL pool. To do so, you would burn your miAssets in exchange for the corresponding Vanilla Assets (plus any accumulated yield)​. In practice, this means you go to the Mitosis app, select your miAsset (e.g. miETH), and redeem it. You’ll receive back your original asset on the Mitosis Chain (vETH) which can then be bridged out to the native chain if desired. Because EOL is an open pool, there’s no fixed term – however, keep in mind that if you frequently move in and out, you might miss out on some governance rewards or incur small exit fees (if any apply). Generally, staying longer in EOL maximizes your share of yields​, but you have the freedom to withdraw whenever you need liquidity.
• Withdrawing from Matrix: Matrix campaigns have a defined term (e.g. 3 months, 6 months, etc.). If you stay until the end of the campaign, it’s maturity time. Upon campaign completion, you can redeem your maAssets for your original Vanilla Assets plus the earned rewards. Essentially, you’ll burn the maAsset and get back your deposit (as a Vanilla Asset) along with any bonus tokens or yield in the form of additional assets​. Mitosis handles the distribution of rewards automatically at the campaign’s conclusion – you’ll see your extra tokens available or an increased balance ready to withdraw.
  • If you need to exit a Matrix campaign early, you typically can, but with a penalty: you would forfeit some or all rewards for breaking the time commitment​. The forfeited rewards are often redistributed to those who stayed, rewarding their commitment. Early withdrawal from a Matrix vault means you burn your maAsset prematurely to get back the underlying Vanilla Asset. This flexibility is there in case of emergencies, but it’s usually best to align with the campaign term to reap the full benefits.
• Bridging Out: After converting your position tokens back to Vanilla Assets, you can easily bridge your Vanilla Assets out to their original chain and asset format. For example, once you have vETH on Mitosis from redeeming miETH, you can withdraw that back to Ethereum as normal ETH through the Mitosis bridge. The system is designed to let you seamlessly round-trip your liquidity: deposit in, participate, then withdraw out as if you never left the native chain, but with extra earnings as the outcome.
• Rollover and Next Steps: Often, users choose to roll over their liquidity to new opportunities. After one Matrix campaign ends, you might deploy your assets into a new campaign or move some into EOL and continue earning. The end of one cycle is the start of another. Mitosis makes it easy to keep your liquidity flowing into the next deal – you can use your Vanilla Assets to join a new vault in a few clicks. This flexibility underscores why we call it a lifecycle: deposit → earn → withdraw → repeat. Your liquidity is always in motion, adapting to where it’s treated best.

Conclusion
Mitosis takes you on a complete journey from a plain deposit to a sophisticated DeFi position and back. To recap, you deposit assets and get Vanilla Assets​. Those Vanilla Assets are your gateway – you can keep them idle or deploy into EOL for collective, governed liquidity or into Matrix for focused campaigns. In EOL, you receive miAssets that yield and give governance power; in Matrix, you get maAssets that grant high returns for the campaign period​. Throughout, you retain the ability to monitor and even utilize your positions elsewhere. Finally, you can withdraw by redeeming your position tokens for the underlying assets at any time (EOL) or at campaign end (Matrix)​.

Flow of liquidity on Mitosis – users deposit assets on a supported chain, receive equivalent Vanilla Assets on the Mitosis Chain (step 1), then convert those into miAssets (via EOL) or maAssets (via Matrix) to earn rewards (step 2). When finished, they redeem back to the original asset (step 3).​

By understanding this lifecycle, even a DeFi newcomer can confidently navigate Mitosis. In essence, Mitosis turns liquidity provisioning into a flexible, lifecycle-managed investment rather than a static one-off deposit. From vanilla simplicity to the exciting matrix of yield opportunities, each stage is clear and accessible. Now you’re ready to put it into practice: start with a small deposit, watch the process in action, and soon your liquidity will be growing through the Mitosis ecosystem. Happy earning!

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