【One Overview | $MITO : A New Favorite in Liquidity Narrative, or Unlocking the Pressure Relief Minefield?】

@Mitosis Official #Mitosis $MITO

In a nutshell

MITO aims to create a "Liquidity Layer 0" for DeFi, but there is a high probability that 80% of tokens are still locked in the "backdoor", leading to a sweet start and a bitter outcome.

Core Model

• MITO: Governance + Fee Discounts;

• gMITO: Earned by staking MITO, can share 30% of protocol revenue, requires a 14-day linear unlock for withdrawal;

• Liquidity Auction: Users deposit ETH/USDC into the Vault, receive MITO rewards, and the protocol sells the entire liquidity to DEX/bridges to earn the spread.

Highlights

1. Precise Narrative: The proliferation of L2 → Fragmentation of liquidity, Mitosis proposes the concept of "Liquidity ETF", one deposit, multi-chain rent collection;

2. Instant High Light: Binance spot + Launchpool dual channel, first-day trading volume of 380 million U, average investment per user of 800 U;

3. Community-Oriented: 60% of tokens belong to ecology/mining, only 15% for the team, seemingly "light team, heavy community".

Hidden Risks

① Unlock Tsunami: Starts 6 months after TGE, releasing a total of 5–7% each month for 18 consecutive months, with a maximum theoretical daily sell pressure of 12 million U;

② Thin Landing: Mainnet Beta only integrated 3 L2s, total Vault <80 million U, revenue week-on-week down -12%, good feedback but poor performance;

③ Industry Competition: Similar competitors Tokemak and Sommelier have already launched, and their TVL is 5–8 times that of Mitosis, large liquidity providers are still watching;

④ Short-term Speculation: K-line 30-minute spike of 20% is common, contract funding rate ±0.3%, clearly controlled by quantitative trading.

Data Quick Read

• Total Supply 1 billion, current circulation 8.5%;

• MC 110 million U, FDV 1.28 billion U, circulation ratio 0.085, diluted by 11 times after unlock;

• Revenue Model: Based on 100 million TVL, annual management fee of 1% ≈ 1 million U, can only cover 3% of the token release speed, running a deficit.

Price Scenario

• Optimistic: TVL breaks 500 million U, Launchpool popularity continues, driving up to 0.35 U (currently 2×);

• Neutral: Unlock + Bear Market, range of 0.12–0.18 U for bottoming out;

• Pessimistic: Liquidity Vacuum, unlock selling pressure, falling back to IEO price of 0.08 U, a decline of 50%+.