Introduction

In this guide, we will dive into the Mitosis testnet and discover how to earn XP by engaging with various dApps.

What is Mitosis?

Mitosis is a platform for Programmable Liquidity, revolutionizing the way on-chain liquidity is sourced and traded. Mitosis introduces a new approach to on-chain liquidity, revolutionizing how decentralized finance (DeFi) protocols acquire and manage liquidity.

The Current Problem:

DeFi protocols often rely on private, opaque deals with large liquidity providers, resulting in unstable liquidity and non-transparent terms.

The Mitosis Solution:

Mitosis addresses these issues with two key components:

1. Ecosystem-Owned Liquidity (EOL): Liquidity providers (LPs) deposit assets into Mitosis Vaults across multiple blockchains. These assets are then converted into miAssets, yield-bearing tokens representing shares in the protocol’s total liquidity.
2. Mitosis Layer 1 (L1): Built on Ethereum using EigenLayer, this L1 chain executes liquidity decisions and enables advanced DeFi applications that manage and optimize yield across chains.

Ecosystem-Owned Liquidity (EOL)

How It Works:

• EOL Mechanism: LPs deposit their assets into Mitosis Vaults and receive representative tokens on the Mitosis chain. By converting these into miAssets, LPs participate in a shared liquidity pool that generates cross-chain yield.
• Governance Through Gauge Votes: miAsset holders vote on liquidity allocation using a proportional voting system, ensuring a transparent and market-driven process for distributing liquidity. This replaces private negotiations with collective decision-making.
• Ecosystem Benefit: Liquidity is no longer tied to individual protocols or chains. Instead, participants contribute to and benefit from a shared, yield-optimized liquidity marketplace.

The Impact:

EOL creates an efficient and sustainable liquidity system by aligning incentives between protocols seeking liquidity and LPs seeking returns. This innovative model shifts liquidity management from centralized deals to a transparent, ecosystem-driven approach.

Step 1

First, we need to join the Mitosis Discord & verify ourselves.





Step 2

Next, head over to the Mitosis website: testnet.mitosis.org & connect your wallet.

For this guide, I will use MetaMask wallet.

Press "Claim My Faucet".





Step 3

Press "Activate Faucet", then proceed to connect your X & Discord accounts to register.







Step 4

Now press "Claim Daily Tokens" for both the Main Faucet & Bonus Faucet.





Step 5

Now head over to the EOL Vaults: testnet.mitosis.org/EOL-vault

So first, select the "USDT" vault.


Now press "EOL Opt in".


Where it says "Select Chain", choose Ethereum first.

Input any amount of available USDT and then press "Opt in".

Now just repeat this on the other chains (Arbitrum, Optimism, Base & Linea).



After that, go back and repeat this whole step but for the other vaults instead (LBTC, ETH & USDe).

Now if you go to the reward dashboard: testnet.mitosis.org/EOL-vault/reward you can see your active positions.





Step 6

Now let's vote for some Dapps!

Go to: testnet.mitosis.org/EOL-voting/gauge & press "Vote".

Input percentages for all three Dapps, make sure they all equal up to 100%, then press "Submit Vote".






Step 7

Now let's boost our XP earnings, head over to Chromo Exchange.

Select miUSDe as the first token & OP as the second token.

Select any amount and hit "Approve miUSDe".

Then hit "Swap".

If transaction fails or shows error you can press "Setting", set slippage to Manual and increase it to 1-2%.


Now perform a swap from OP to COMP.





Step 8

Now let's supply our assets, to do this, head over to Telo & connect your wallet.

Then select the "Native Market" tab at the top and press "Supply" on the first token (miUSDT).


Insert any available amount and press "Supply miUSDT".

Repeat this with the other miAssets.


We can also do the same for OP & COMP since we swapped for these assets in the previous step.





Step 9

Now let's earn some "Cells".

To do this, we need to head over to the Mitosis Galxe quests and try to complete as many tasks as possible.

1. Game of MITO - Get used to Mitosis
2. Game of MITO - Explore Mitosis Ecosystem (Dapps)

Upon completion, these two quests will provide you with six OATs which will also earn you Cells over on the Mitosis testnet which we will need in the next step.

Tip: To get the Mitosian Discord role you will need to send 10 messages in the "gateway" channel.

It's recommended to complete the Show your support for Chromo! quest too, this will earn you a supporter OAT.






Step 10

Finally, head over to your profile page: testnet.mitosis.org/mypage & now you should have some Cells available.

We need to combine two Cells to create one Cluster, and two Clusters to create one Item.



Once you have created an item, you can scroll down and equip it, then hit "Apply" to save changes.





Step 11

Now let's check out Crews!

Here you can either create your own crew, or you can join our crew: BitBlog Airdrop Squad.

If you create your own crew, you cannot leave your crew or join another crew! So choose wisely!

Outro

That's all for this guide!

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Disclaimer: This guide is provided strictly for educational purposes and should not be considered financial advice. The content is designed to offer insights into various web3 topics & projects.

We do not recommend putting real money into random projects without conducting plenty of your own research first. It is crucial to make informed decisions based on your own understanding and risk tolerance.