Skip to main content

Mitosis L1

The Mitosis L1 chain is a purpose-built blockchain that powers the protocol's liquidity collective.

alt text

Secured by Ethereum through EigenLayer - it’s more than just a transaction layer, it's the infrastructure that enables DeFi applications built on it to leverage EOL's liquidity and governance mechanisms. It serves as the central coordination hub of the protocol's liquidity collective - connecting and standardizing assets across multiple blockchain networks through strategically deployed Mitosis Vaults.

When users deposit assets into Mitosis Vaults on any supported chain, they first receive Vanilla Assets on the L1, creating a representation of their deposits. These Vanilla Assets can then be converted into miAssets through EOL opt-in, transforming deposits into yield-bearing tokens that capture value from cross-chain opportunities, thus maximising capital efficiency.

Increased Capital Efficiency​

The Mitosis L1 chain transforms static deposits into productive assets through its unique miAsset system. Unlike traditional cross-chain bridges that simply lock assets, Mitosis enables deposited assets to generate yield through EOL while simultaneously serving as building blocks for DeFi applications on the L1.

This dual utility begins when users convert their Vanilla Assets to miAssets. As yield-bearing tokens, miAssets automatically accrue returns from EOL's multi-chain allocations. At the same time, these miAssets can be utilized in various DeFi applications on Mitosis L1, creating an additional layer of capital efficiency.

A simple example would be how a user's miETH can earn yields from EOL strategies while also being used for lending or providing liquidity on Mitosis L1.

As such, applications built on Mitosis can create sophisticated financial instruments around miAssets, enabling users to trade, leverage, or take positions on yields generated across multiple chains. This composability ensures that capital remains actively employed across multiple strategies simultaneously, maximizing the productive potential of every deposited asset.

Addressing DeFi's Scalability Challenge​

Mitosis also tackles DeFi's scalability challenge by transforming Passive Liquidity into active, working capital through an innovative delegation system.

Currently, the vast majority of crypto assets remain idle, as users lack the time, expertise, or incentives to actively participate in DeFi. Mitosis changes this dynamic by allowing users to delegate their governance rights to applications they trust.

When users deposit miAssets into applications built on Mitosis L1, they can delegate their voting power to these applications.

For example, a lending protocol receiving miETH deposits can use the delegated voting power to direct EOL's ETH allocation in ways that benefit both the protocol and its depositors.

This alignment of interests enables efficient governance participation without requiring constant active management from individual users.

This delegation mechanism creates a more scalable model where,

  • Applications can optimize yield strategies on behalf of their users while
  • Individual participants maintain the flexibility to choose their level of involvement

By making DeFi participation more accessible and efficient, Mitosis helps unlock the substantial pool of Passive Liquidity that has remained on the sidelines of the DeFi ecosystem.

Mitosis L1 Timeline​

alt text

Mitosis Evolve​

An open initiative that allocates 25% of Mitosis's total token supply to support builders and align them with the protocol's vision through Retro-PGF (retroactive public goods funding), with Phase 0: Genesis Builders marking its inaugural phase for early developers building on the Mitosis testnet.

Game of MITO​

An incentivized public testnet where participants can earn real $MITO tokens while engaging in dynamic activities like teaming up with crews, climbing leaderboards, and participating in EOL governance.

Join the Waitlist now or secure your spot via SuperPass.