Mitosis to Hold TGE on Binance Wallet

Mitosis announced on the 19th that it will conduct a Token Generation Event (TGE) and booster campaign for its Mitosis (MITO) token on Binance Wallet.

The booster campaign will be run in seasons. The first season runs from 9:00 AM on the 19th (KST) until 8:59 AM on the 26th. Participants can deposit 0.03 Binance Coin (BNB) or 25 Tether (USDT) into the Simple Yield Mitosis vaults through Binance Wallet.

The total rewards for the first season amount to 15 million Mitosis tokens. Rewards are distributed as 5 million MITO on the 19th and 10 million MITO on the 20th. Binance Wallet users can also subscribe to token purchases through Binance Alpha Points.

Binance explained, "Participants' daily rewards are calculated based on the total asset ratio in their wallet," and added, "The maximum staking period for the promotion is 7 days." The annual percentage rate (APR) is calculated based on total value locked (TVL) and is updated hourly.

Binance also cautioned, “These TGE tokens cannot be traded until the end of the subscription period. Please be careful of tokens circulating before official distribution, and make sure to check contract addresses via our official channels.”

Mitosis is a programmable liquidity Layer 1 network providing a liquidity environment for both DeFi projects and liquidity providers.

Meanwhile, Mitosis raised $7 million (approximately ₩1,000,000,000) in seed funding in May last year, led by Amber Group and Foresight Ventures.