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Mito is a set of automated trading repositories based on Web 3 smart contracts. Each repository uses highly developed trading algorithms that are usually used only by experienced institutions and hedge funds.
Mito allows even inexperienced users to interact with their platform, democratizing access, thereby simplifying their work.
How Does It Work?
Mito Vaults allow users to deposit assets and earn yield, either from the performance of the vault (via its trading strategy) or the rewards from staking the vault tokens or both.
Vault subscribers will receive a vault token (LP token) proportionate to their deposited amount.
When users subscribe to a vault, they receive vault tokens. These tokens represent their share of the total vault.
When users remove their liquidity from the vault, they get back the percentage of liquidity that their vault tokens represent.
Trading Strategy
Trading strategies define how the assets in a given vault are deployed. All vaults have a trading strategy.
Some trading strategies focus on providing liquidity (i.e. market making), while some focus taking a view of the market directions.
Strategy providers are in charge of creating and maintaining trading strategies.
Strategy providers can be on-chain (via a smart contract) or off-chain. They also define the fee charged by a vault.
Staking
Additional incentives are available if you choose to stake the vault tokens.
Typically, a vault with market making strategy would get a higher staking rewards because of its role in providing liquidity.
When a vault token is staked, rewards can be claimed immediately.
In order to unstake a vault token, it must first go through an unlock period of 24 hours. This is to prevent too much fluctuation to the vault’s inventory level.
Additional plops from Mito !
1) Swap
“Swap” allows users to easily exchange one cryptocurrency for another without having to leave Mito. Using a similar experience offered by other popular DeFi protocols, such as Uniswap, “Swap” allows users to quickly replenish their wallets to join “Repositories”, with the same transaction time and low fees that all dApps use for injectable exchange.
2) Portfolio
“Portfolio” is where users can check their holdings and activities on Mito. Users can also view their overall P&L and total value in Vaults.
3) Missions
Сomplete missions and earn additional tokens
4) Launchpad
Take part in launchpads and earn even more!)
Conclusion
Mito is a set of automated trading repositories based on Web 3 smart contracts. Each repository uses highly developed trading algorithms that are usually used only by experienced institutions and hedge funds. Mito has a very wide functionality and is constantly being upgraded. This is suitable for both beginners and seasoned professionals.
“Only forward, only the future”
