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What is Mitosis?

Mitosis is a Liquidity Collective that redefines on-chain liquidity procurement and trading. alt text Currently, DeFi protocols rely heavily on private deals with large liquidity providers, leading to opaque terms and unstable liquidity.

Mitosis transforms this dynamic through 2 key components:

  • Ecosystem-Owned Liquidity (EOL) which allows liquidity providers to deposit assets into Mitosis Vaults across various chains.
  • Mitosis L1 where liquidity decisions are executed through miAssets: Yield-Bearing Tokens which represent shares in the protocol's total liquidity.

Secured by Ethereum through EigenLayer, the L1 chain enables sophisticated DeFi applications that create new financial instruments for trading and managing multi-chain yields.

Ecosystem-Owned Liquidity (EOL)​

EOL is Mitosis' core innovation that transforms how DeFi protocols acquire and manage liquidity.

Liquidity Providers (LPs) deposit their assets into Mitosis Vaults on various chains and receive representative assets on the Mitosis chain. These providers can then opt-in to become EOL participants by converting their assets into miAssets, which provide exposure to yields generated across multiple chains and protocols.

EOL's allocation is determined by miAsset holders through periodic Gauge votes, where voting power is proportional to holdings. This collective decision-making ensures liquidity flows to where it's most valuable, replacing private negotiations between protocols and large liquidity providers with a transparent, market-driven process.

The key distinction of EOL is that while individual providers contribute liquidity, allocation decisions are made collectively by the ecosystem. When users deposit into EOL, they're not just providing liquidity to a single protocol or chain - they're participating in a collective that optimizes yield across the entire DeFi landscape. This model aligns incentives between protocols seeking liquidity and providers seeking returns, creating a more efficient and sustainable liquidity marketplace.

Read more about EOL here.

Mitosis L1 & miAssets​

The Mitosis L1 chain provides the infrastructure that powers the protocol's liquidity collective. Secured by Ethereum through EigenLayer, it acts as the central hub where assets from various chains converge and EOL allocation decisions are executed. The chain enables a new asset class called miAsset, which represents a user's share in EOL's total liquidity and yield generation.

When users deposit assets into Mitosis Vaults, they receive 1:1 representative assets on the Mitosis chain. Users can then opt into EOL by converting these assets into miAssets, which represent yield-bearing tokens that accrue returns from EOL's multi-chain allocations. For example, a user depositing ETH and opting into EOL receives miETH, granting them both governance rights over ETH allocation and claims to generate yields.

The Mitosis L1's design enables sophisticated DeFi applications to be built atop miAssets. These applications can create new financial instruments that let users trade, provide liquidity, or take positions on yields generated across multiple chains simultaneously. This composability transforms Passive Liquidity into dynamic, yield-generating assets that reflect the collective performance of EOL strategies.