Today marks the official launch of Mito on the Injective mainnet, introducing its cutting-edge automated vault platform and Launchpad to the broader Web3 community.
Throughout its testnet phase, Mito received resounding support from its dynamic community. With more than 150,000 community members joining and helping throughout the early access launch phase, anticipation for Mito's mainnet debut reached unprecedented levels.
Mito will unveil its Launchpad today with its first project as chosen by the community along with four vaults in the coming days.
Welcome to a new era of Web3 finance.
What is Mito?
Mito is a groundbreaking Web3 protocol that includes two key components: automated trading vaults and a launchpad. Powered by Web3 smart contracts, it offers an intuitive user interface, 24/7 access to portfolios, and incredibly low fees.
Launchpad
At the forefront of Mito's debut is its Launchpad, a decentralized platform designed to democratize initial token sales. Starting February 22, users can access early token sales that occur within the Injective ecosystem.
The inaugural project to utilize this innovative platform is Quants, the NFT Fi collection selected by the Injective community through a voting process to be featured as the first offering on Launchpad. Users who meet the project requirements can begin subscribing to the launchpad on February 22, 2024 at 15:00 UTC for a period of 4 days.
Upon completion of the Launchpad process, users will instantly receive 50% of the asset, while the remaining 50% will be deposited into a QUNT/INJ trading vault. Subsequently, users will be provided with an LP token to signify their holdings. This vault is created immediately following the conclusion of the launchpad subscription.
Users will be able to withdraw their assets from this vault immediately or further stake their LP tokens for rewards.
To learn more about Mito’s Launchpad, click here.
Automated Trading Vaults
On February 26, 2024 at 15:00 UTC, four (4) additional vaults will also open up and begin trading to earn potential returns: DOJO/INJ, TALIS/INJ, NINJA/INJ, and INJ/USDT.
Each vault will implement a Constant Product Market Maker (CPMM) strategy, at start, and will have their own requirements surrounding max TVL, rewards, and more. Please visit each vault page for further details.
Users will have the opportunity to potentially enhance their returns by staking their LP tokens. Each trading vault will offer its own specific rewards per gauge, enabling users an opportunity to maximize their portfolio.
In the coming weeks, Mito will introduce additional trading vaults for users. Eventually, Mito’s offerings will expand to encompass a diverse range of strategic strategies within its trading vaults, including ASMM vaults, managed vaults, and more.
The current vaults will be quoted in INJ to start.
To learn more about Mito’s Trading Vaults, click here.
Simplify Your Crypto Trading
Mito makes it easier for users to trade digital assets by tackling common challenges such as complicated user interfaces and a lack of transparency in trades. It simplifies the process of accessing trades and newly launched digital assets, while also quickly executing advanced trading strategies. Users get the benefits of both worlds: the simplicity of an automated market maker combined with the advanced features of an order book system.
“We’re proud to bring Mito to mainnet as a service that actively rewards the community for the investment they’ve made in building flourishing ecosystem projects,” said Eric Chen, co-founder and CEO of Injective Labs. He added: “Providing users with the advanced financial resources traditionally available to only sophisticated institutions and hedge funds is a milestone in democratizing access to DeFi services, ultimately supercharging potential markets.”
Start your journey on Mito today.
This post is for informational purposes only and is not financial advice or an endorsement of any project or application.
About Mito
Mito is a groundbreaking Web3 protocol that aims to reshape the future of DeFi automated trading, launchpads, and real-world assets. A combination of automated trading vaults and a launchpad, Mito is powered by smart contracts to simplify crypto trading for all users.
Mito is built on Injective.