The day before yesterday (5/2), cross-chain liquidity solution Mitosis announced a collaboration with consumer-grade public chain Morph to launch the "Zootosis" vault.
This is a great opportunity to simultaneously layout the two unissued token protocols, Mitosis and Morph. Don't miss it!
Basic Information about Zootosis
Zootosis will be the latest vault of Mitosis' flagship product "Matrix Vaults", which provides users with the opportunity to layout Mitosis and its partner project's airdrops simultaneously. (The first Theo Vault has been launched)
Zootosis will allow the deposit of related assets (such as WETH, WBTC, etc.) of stablecoins, ETH, and BTC. The longer the time providing liquidity, the more Zoot points will be earned, allowing for withdrawals at any time but with a loss of points. (Zoot points = future Morph & Mitosis airdrops)
The potential of Zootosis Vaults from the perspective of Mitosis Theo Vaults
Theo Vaults only supports ETH-related assets (weETH) and has accumulated about 8M USD in TVL in less than a season since its launch, indicating its popularity. (For comparison, the total TVL of Mitosis Expedition's six products is about 40M)
Interestingly, the Matrix Vaults panel provides an estimated return for the Theo airdrop, with an APY as high as 17.75-26.62%. The APY is simulated based on FDV.
If you are tired of the airdrop returns below 10% annualized from the last round of LST LRT airdrops, Mitosis might give you new hope.
The importance of Zootosis Vaults from the perspective of the Morph Zoo points system
The first phase of Zootosis will support four types of assets: WETH, WBTC, USDT, USDC. By focusing on providing staking returns for BTC and ETH-related assets, Mitosis will effectively expand the on-chain liquidity of these two assets.
From the Morph Zoo system, it can be observed that the liquidity of BTC and ETH on the Morph chain is quite sluggish. By collaborating with Mitosis, there is an opportunity to introduce about 40M liquidity from the Mitosis expedition, which may be the main reason for the collaboration between the two.
Summary
The collaboration between Morph and Mitosis can be described as a mutually beneficial symbiosis.
Morph lacks the on-chain liquidity of mainstream assets BTC and ETH that Mitosis has, while Mitosis hopes to gain potential dividends from Morph's consumer-grade public chain audience, which can be said to be mutually beneficial.
Therefore, it can be expected that Morph will likely provide a certain proportion of Morph airdrop allocations to Zootosis participants as an incentive to attract liquidity.
For users, in addition to participating in Matrix Vaults like Zootosis to achieve airdrop benefits, it is more important to have the opportunity to obtain higher reward rates (APY) from Morph airdrop returns, which is very attractive for those who are not satisfied with the 2x or 2.6x points acceleration of the Morph Zoo points system.
Currently, detailed information and launch time have not been announced, so it is worth paying close attention.
-------------------------------------
※Participating in Mitosis allows binding a referral code to increase Mito Points. Partners in need can use my code:
"UAWCDU"
Note that you must complete the binding of account X to receive the points bonus effect from the binding invite code!
※Morph Code: "AT4MPQ"
※The above content does not constitute investment advice. Users should operate according to their own risk tolerance and participate in the investment market with caution, DYOR.
※The attached images are from Mitosis and Morph