Understanding Mitosis Protocol and the Expedition Campaign
DeFi (Decentralized Finance) is constantly evolving, and one of the most innovative players in this space is the Mitosis Protocol. Mitosis is redefining liquidity provisioning on the blockchain by introducing transparency and inclusivity through Ecosystem-Owned Liquidity (EOL) and its L1 chain.
With the conclusion of the “Game of Mito” Incentivized Testnet, you still have a chance to participate in the Mitosis Expedition campaign. This initiative provides users an opportunity to continue engaging with the protocol and earning rewards.
By depositing your Liquid Restaking Tokens (LRT), the campaign operates across the Ethereum network and its main Layer 2 networks, allowing participants to explore Mitosis’ core functionalities while earning MITO Points.
MITO Points accrued during the Expedition may convert into future $MITO token airdrop, providing an exciting opportunity for early adopters and active participants. This campaign marks a significant milestone in the protocol’s journey to redefine multi-chain DeFi liquidity and yield generation.
What is Mitosis?
Mitosis is a gateway to programmable liquidity, designed to revolutionize on-chain liquidity procurement and trading. Traditional DeFi relies on opaque, private deals with large liquidity providers, which can lead to unstable liquidity and information asymmetry. Mitosis addresses these challenges with two key components:
- Ecosystem-Owned Liquidity (EOL): A collective liquidity model where providers deposit assets into Mitosis Vaults across multiple chains, enabling transparent and community-driven allocation decisions.
- Mitosis L1: A modular-first Layer 1 blockchain designed to bootstrap and scale emerging chains. Mitosis L1 enables new modular blockchains to capture TVL and onboard users through an integrated governance and liquidity-sharing framework. At its core are miAssets — yield-generating tokens that represent proportional ownership in the protocol’s aggregated liquidity and yield, aligning ecosystem incentives across chains.
These innovations create a more inclusive and efficient DeFi ecosystem, benefiting both liquidity providers and protocols seeking sustainable liquidity.
Ecosystem-Owned Liquidity (EOL)
EOL is the cornerstone of Mitosis. Liquidity providers deposit assets into Mitosis Vaults and receive representative tokens on the Mitosis chain. They can then opt into EOL by converting these tokens into miAssets, gaining exposure to multi-chain yield generation.
Key Features of EOL:
- Collective Decision-Making: Allocation decisions are governed by miAsset holders through periodic Gauge votes, where voting power corresponds to miAsset holdings.
- Optimized Yield: Participants benefit from yields generated across various chains and protocols.
- Transparent Process: EOL replaces opaque, private negotiations with a transparent, market-driven approach.
This model aligns the interests of liquidity providers and protocols, creating a sustainable liquidity marketplace.
Mitosis L1 & miAssets
The Mitosis L1 chain serves as the central hub for the protocol’s liquidity collective. It facilitates:
- Yield-Bearing Tokens (miAssets): Represent shares in EOL’s liquidity and yield generation. For example, depositing ETH and opting into EOL results in miETH, granting governance rights and yield claims.
- Composability: miAssets enable sophisticated DeFi applications, transforming passive liquidity into dynamic, multi-chain yield-generating assets.
Mitosis Expedition Campaign
Mitosis is launching its Mitosis Expedition Campaign to spearhead the adoption of liquid restaking tokens (LRTs) and expand its multi-chain presence.
What is the Mitosis Expedition?
The campaign leverages LRTs to support multi-chain liquidity provisioning. By participating in Expedition, users can interact with Mitosis’ core features and earn rewards in the form of MITO Points, which may later translate into $MITO token airdrops.
How Does It Work?
- Deposit and Redeem: Users deposit assets (e.g., weETH) into Mitosis Vaults, receive miAssets, and earn MITO Points.
- Multi-Network Support: Expedition runs on Ethereum Mainnet and Layer 2 networks, allowing participants to explore Mitosis’ cross-chain capabilities. (Arbitrum, Scroll, Linea, Mode, Blast, Optimism and Mantle — also L1 BSC)
- Asset Expansion: As new assets are supported, additional Expeditions will launch, each with its own MITO Points and reward allocation.
Join the Mitosis Expedition Campaign here: https://app.mitosis.org?referral=T19Z2D
For example:
- MITO Point (weETH): Earned by depositing and holding weETH-based miAssets.
- MITO Point (xxxETH): Earned through deposits of another supported ETH derivative.
Benefits of Expedition:
- Yield Opportunities: miAssets provide embedded yields from underlying assets.
- Cross-Chain Exposure: Simplifies multi-chain DeFi participation by eliminating liquidity fragmentation.
- Potential Airdrops: Participants can convert MITO Points into $MITO tokens in the future.
Get 1.3x Morse Holder Boost
A 1.3x MITO Point Boost is activated for those who hold ≥ 1 $MORSE in their wallet. Your $MORSE balance is refreshed daily, prior to the daily MITO Point calculation.
About Token $Morse
It’s important to note that the $MORSE token is built on the innovative DN404 standard, which merges tokenization and NFT fractionalization on the Ethereum blockchain. This powerful combination enables seamless transitions between fungible token shares and unique NFTs.
Morse NFT Holder
If you want to understand better how the Morse NFT works, I put together a full article with all the info you need to know to become a Morse NFT holder.
Article about Morse NFTMitosis Badges
Collect the various Expedition Badges to get more MITO Points. Each of the Liquid Restaking Tokens (LRT) have their own badges, so browse through all the options. Badges are divided into different categories as below:
Onboarding
There are 5 Onboarding Badges to welcome the participants to the Expedition (weETH) campaign.
Early Adopter
Early Adopter Badges are designed to benefit early Mitosis and weETH ecosystem contributors.
Growth
Become a Hodler and get benefits. By depositing more and holding longer, you can upgrade your hodler badge to Level 16.
Milestones
Milestones Badges are claimable when the specified total deposit caps are reached.
Community
Community Badges are claimable if you have specific roles in the Mitosis Discord channel.
Discord Link: https://discord.gg/mitosis (channel: #role-verify)
EigenLayer Point
EigenLayer Point Badges are claimable for wallets that have EL points
Explore the MITO Points Rankings
The ranking functionality highlights the top 100 wallets with the highest number of MITO Points for each Liquid Restaking Token (LRT) vault.
This feature serves as a valuable benchmark, allowing you to assess your contributions to the protocol compared to other members of the community.
Keep an eye on your ranking to track your standing and impact within the Mitosis ecosystem.
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