The team at Mitosis has reportedly secured a total of $7M in funding, which is considered by them to be a testament to the “trust” and “belief” of industry’s investors and strategic partners, including the lead investors Amber Group and Foresight Ventures.
With this strong financial backing and the support of their insightful professionals and partners, Mitosis claims that it is now “well-positioned to redefine the DeFi LP experience in the upcoming modular era.”
They are grateful for the trust and support of their partners and investors, and they now look forward to “continuing this journey together.”
As noted in a blog post, Mitosis is proposing “a new concept of participating in DeFi called Ecosystem-Owned Liquidity (EOL).”
In the upcoming modular blockchain ecosystem, hundreds and thousands of sovereign networks “leveraging seamless chain deployment will emerge.”
Each network will foster its own ecosystem “with creative product offerings backed by specialized blockchain infrastructure for optimal performance.”
However, all ecosystems require “the same component to thrive: uninhibited access to liquidity.”
Mitosis’ EOL redefines the current LP<>protocol dynamic “by empowering its pooled liquidity with a competitive advantage.”
Mitosis LPs participate in the EOL governance “to decide asset allocation strategies for optimal return. Protocols actively participate in the EOL community to market their offerings and procure liquidity. EOL achieves an efficient market with symmetric, transparent information that makes the Mitosis protocol scalable and benefits all participants.”
Expedition is Mitosis’ inaugural campaign “to lead liquid restaking token’s (LRT) multi-chain expansion.”
The first Epoch had been opened “at 15:00 UTC on April 25th and successfully reached the TVL cap within an hour.”
Epoch 2 was set to commence “at 15:00 UTC on May 2nd with an increased cap.”
Mitosis proposes a paradigm shift: from individual LPs “seeking opportunities to opportunities seeking LPs. Ecosystem-Owned Liquidity redefines the legacy LP<>protocol relationship to maximize LP capital efficiency in the upcoming multi-chain setting.”
Here’s how EOL works:
- The Mitosis Ecosystem comprises an L1 chain and an EOL Vault on each network
LPs deposit their liquidity into an EOL Vault - Mitosis Vaults allocate pooled liquidity in various yield sources
- The allocation process begins with a forum discussion, followed by signaling proposals to determine if the ecosystem will commit liquidity to a specific opportunity. The EOL community then votes on the proposal to execute the allocation
- Protocols interested in leveraging the Mitosis EOL can initiate forum discussions.
- Protocols provide the details of their offering to maximize the EOL community’s support
- Rewards generated by each Vault are distributed to all Mitosis Ecosystem LPs.
- Distribution happens across all Mitosis-supported networks, meaning all LPs share the multi-chain yield exposure