Mitosis, the company behind the modular liquidity protocol, announced it has raised $7 million in its latest funding round. The leading investors were Amber Group and Foresight Ventures, with Big Brain Holdings, Folius Ventures and others also participating. 🚀💰

The funds will be used to develop the project, including the launch of a public testnet in the second quarter of 2024 and the main network by the end of the year. Mitosis is also actively promoting the expansion of liquid re-staking tokens (LRT) across various blockchains.

The project introduces a new approach to decentralized finance (DeFi), giving participants the opportunity to participate in the decision-making process on liquidity distribution. This allows for an efficient market with symmetric and transparent information, improving the scalability of the Mitosis protocol and benefiting all participants.