Recap on AMA Session

Thanks to the Community

Gmitosis!

The AMA (Ask Mitosis Anything) session allowed the community to dive deeper into Mitosis. It began with answering questions from the Google form and concluded with a Q&A session from the audience. More than 300 community members were there to engage and interact. Thank you to all who took the time to participate. We had a blast chatting with the community.

Questions

We tried to transcribe the answers as they were given in the session to maintain the real-time feel of the document. Please refer to our GitBook for a more detailed explanation of Mitosis.

https://docs.mitosis.org

About Mitosis

1. What is Mitosis?

• Mitosis is a scalable cross-chain liquidity protocol fit for the modular era.

2. Why LRTs?

• We plan to bootstrap LRT as our initial asset to support because we believe that LRTs will expand cross-chain for further utilization. Furthermore, LRT projects and Mitosis share similar visions. LRTs ensure security for numerous entities while maintaining staked asset liquid. Mitosis offers interoperability to numerous entities while maintaining the deposited asset liquid. In summary, LRTs provide security, and Mitosis facilitates cross-chain activities for the modular era without sacrificing liquidity.

3. How does Mitosis work? And why do we need a modular liquidity protocol?

• Mitosis enables native cross-chain transfer. You can move LRTs from one network to another without the need for intermediary assets. Furthermore, Mitosis is a “modular” liquidity protocol thanks to its scalability. We believe there will be numerous chains and rollups in the modular era. In this near future, we don’t want a fragmented cross-chain liquidity layer for several reasons — numerous trust assumptions, slippage, and slow settlements. So, we aim to be the cross-chain liquidity protocol that is scalable enough to fit the modular era.

4. Why is Mitosis different?

• As mentioned before, Mitosis has by far the most scalable design for the cross-chain liquidity layer. Mitosis is scalable in several aspects, including network coverage and the range of cross-chain activities it supports. Utilizing Hyperlane, Mitosis can freely connect to new networks with high potential. We can also leverage networks that have integrated Hyperlane, thanks to Hyperlane’s permissionless interoperability. This ensures Mitosis’s scalability in terms of network coverage. Mitosis is scalable in the types of cross-chain activities it enables. Initially focusing on cross-chain transfers, it plans to broaden its capabilities to include cross-chain swaps, lending, and more. We believe scalability will be the most critical factor for a cross-chain liquidity protocol in the modular era since hundreds and thousands of rollups and chains will be deployed.

5. Is the security guaranteed for user funds?

• We are going through a thorough audit process. Also, we use Hyperlane’s extensively reviewed security measures. So, the team is quite confident about the security. However, we will continue to handle the deposited funds with utmost care.

6. Will Mitosis token be used for governance?

• Mitosis tokens will be utilized in governance, where users can participate with their staked tokens.

7. Can you give me some example use cases where Mitosis is better than existing protocols?

• As explained above, Mitosis is designed to be the most scalable cross-chain liquidity solution, so users don’t need to worry about which network and types of cross-chain activities it supports. Features will be added one by one to achieve this goal.

8. “Once a DeFi protocol within Mitosis accumulates sufficient miAssets, it facilitates the corresponding cross-chain action.” (quote from the gitbook) — What this means in layman’s terms is that once Mitosis DEX has acquired sufficient liquidity, it can be used as a pool for cross-chain swaps, correct?

• Yes, it is correct.

9. When DApps on the Mitosis Chain want to integrate into Mitosis cross chain activity, what process do they need to go through?

• The goal is to provide a “plug-in” developer experience. We aim to provide an adapter for DApps to integrate with the Hyperlane messaging system so they can take part in Mitosis cross-chain actions.

About Expedition

1. What kind of errors have we found through this testnet, and what kind of improvements are we going to make?

• Thankfully, we didn’t find any critical errors. But there were some hazards due to the tremendous traffic. Twitter connection and faucet failure were among the most significant issues. The team tried their best to handle these issues, and in the end, we could manage the traction. We are definitely more prepared for mainnet launch, thanks to all who participated in the testnet. Please check out our medium post for further elaboration: https://medium.com/mitosisorg/mitosis-expedition-testnet-retrospective-ef1de1e5707f

2. What can users earn from the Expedition Mainnet other than points?

• We are currently talking with several interesting chains and rollups, and we will announce these partnerships one by one. With newly supported chains, we plan to introduce dual incentives to maximize the yield for participants.

3. Will the badges from testnet be utilized in the Expedition Mainnet?

• Only MITO points and tier data will be reflected.

4. The point conversion ratio from testnet to mainnet, the benefit for EtherFi invitation event, the missed use cases, Mitosis token allocation for MITO points, the leaderboard, wen airdrop, wen badkids snapshot

• Please wait for the official announcement for the above information. Regarding the point conversion ratio, we will try to ensure fairness through meticulous data analysis.

What’s Next?

1. Expedition Mainnet — March 2024 onward

2. Mitosis chain: Testnet Phase — Q2 2024

• $miAsset-based gamified programs to earn Mitosis Mainnet governance tokens

3. Mitosis chain: Mainnet — Q3 2024 3. 4

• Unified liquidity layer for the modular era

4. Security upgrade: restaked $ETH — Q4 2024

• Crypto-economics applied to protocol security (Hyperlane AVS ISM)

Stay Tuned!

Thank you again to everyone who participated in the AMA session. We will return with more exciting updates soon.

Join the Mitosis Community

Please follow our journey and provide your thoughts on our Discord and X. We’ll run regular AMAs & podcasts and provide other essential updates to keep you in the loop. Interested in how Mitosis works? Take a deeper dive into our technical documentation.

Website | Documentation | X (Twitter) | Discord | Telegram