The modular liquidity protocol Mitosis has completed a $7 million financing round, led by Foresight Ventures and Amber Group.

ChainCatcher news, the modular liquidity protocol Mitosis announced that it has completed a $7 million financing round, led by Amber Group and Foresight Ventures, with participation from Big Brain Holdings, Folius Ventures, Citizen X, GSR, Cogitent Ventures, No Limit Holdings, Digital Asset Capital Management, Pivot Global, Everstake, as well as angel investors from Zellic, XAI, ether.fi, Hyperlane, Osmosis, DefiLlama, Injective, Keplr, Puffer, Curve, and Interchain.

Mitosis's Expedition event Epoch 2 will start at 23:00 Beijing time on May 2, with Epoch 1 having started at 23:00 on April 25.

It is reported that Mitosis is a liquidity protocol for the modular era, aiming to redefine cross-chain liquidity. It makes cross-chain LPing more attractive by providing liquidity for cross-chain LPing. Mitosis LPs receive derivative tokens that can be exchanged 1:1 with their locked assets. LPs can use these derivative tokens to participate in various DeFi applications on supported Ethereum L1 chains and L2 Rollups, essentially allowing LPs to earn additional yields on their cross-chain assets based on default fee sharing.