About Mitosis Expedition
Introduction
Liquid restaking tokens (LRT) have the potential to become the next-generation DeFi primitive. In the near future, LRTs must exist in hundreds, if not thousands, of modular rollups. Mitosis is the partner in LRT's inevitable multi-chain transition.
The Mitosis Expedition campaign is where LRT's cross-chain expansion begins. Mitosis proposes a new, novel take on spearheading the proliferation of LRT across multiple networks. After establishing the new norm of multi-chain DeFi through LRTs, Mitosis will apply the same structure to other assets and imbue them with underlying yields.
Liquidity hosted by Expedition will be used for the Mitosis EOL (Ecosystem-Owned Liquidity) program, in addition to retaining liquidity in the form of miAsset. EOL procures exclusive yield opportunities for miAsset holders from its connected protocols. Mitosis redefines DeFi LPing on both the yield provider (protocols) and liquidity provider (Mitosis LPs) ends by utilizing EOL to create a miAsset-based ecosystem on its L1.
Expedition Mainnet will run on the Ethereum Mainnet and various L2 networks.
During this program, participants can experience Mitosis' fundamental features: Deposit and Redeem. Deposit assets, receive miAssets, and hold miAssets to earn various MITO Points by Expedition. You can also redeem miAssets, retrieve underlying assets, and deposit assets on other supported networks.
As Expedition starts to support new assets aside from weETH, multiple Expeditions will exist during the campaign supporting different assets. Each Expedition's MITO Point will be separately calculated based on the type of assets. In addition to this, each MITO Point from each Expedition will have different allocations when it comes to future $MITO airdrops.
e.g., MITO Point (weETH), MITO Point (xxxETH), MITO Point (yyyETH)
miAsset
miAsset is a core Mitosis feature that enables the concept of Ecosystem-Owned Liquidity (EOL). LPs earn the yields embedded in the underlying assets just by holding miAssets. Mitosis Vault strategies manage the LP assets by allocating them to various yield sources across multi-chain DeFi. Instead of manually deploying capital and causing inevitable liquidity fragmentation, LPs can conveniently gain multi-chain DeFi exposure by holding miAssets.