A day of live streaming at @Sidekick_Labs with my mouth, the first project to write is @MitosisOrg, a liquidity protocol from South Korea that will soon be launched on @KaitoAI.

1⃣ Project Introduction

MitosisOrg is a new protocol that makes cross-chain funds more useful.

In simple terms, before you put money into a cross-chain liquidity pool, it just sat there earning fees. Now with Mitosis, when you deposit money, you receive a token receipt that can be exchanged 1:1 for your original funds.

The key is that you can take this receipt to the Ethereum main chain or various Layer 2 networks to continue investing and making money, such as lending, mining, etc. This way, you can earn money from two sources: one from cross-chain fee sharing, and the other from the returns on other investments made with the receipt token.

It's like putting your money in a fixed deposit at a bank; the bank gives you a certificate of deposit, and you can take that certificate to invest elsewhere while still earning interest on the fixed deposit. Mitosis turns what was once idle money into active money, making cross-chain investments more cost-effective.

2⃣ Project Financing

The project secured $7 million in funding in 2024, led by mber Group and Foresight Ventures.

3⃣ Project Status

According to Kaito's official display, the project will soon be launched on the platform. As is well known, projects that go live on the Kaito platform usually undergo a TGE (Token Generation Event) within 1-2 months.

According to DefiLlama data, the current TVL of the platform is $49 million, which is at a moderate level.

At the same time, #Mitosis is about to proportionally distribute some airdrop rewards to the top 1000 Yappers on its leaderboard.