DefiLlama Reports Billions in TVL as Binance Launches High-APY MITO Campaign

Binance’s Mitosis Booster Season 1 attracts over $188 million in deposits with high APY rates across BNB and USDT pools, offering 15 million MITO tokens in rewards.

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Summary

Binance’s Mitosis (MITO) Booster Season 1, launched today at 8:00, has attracted $77.71 million in the BNB pool and $111 million in the USDT pool. Current APYs stand at 40.24% for BNB and 21.14% for USDT. The campaign offers 15 million MITO tokens as rewards, requires no Alpha points threshold, and supports deposits via Binance Wallet into the Simple Yield Mitosis vault. Asset redemptions are managed via the Mitosis DApp, taking up to 10 days for BNB and 5 days for USDT.

Terms & Concepts
  • TVL (Total Value Locked): The total value of assets deposited in a DeFi protocol, reflecting its size and user trust.
  • APY (Annual Percentage Yield): The annualized rate of return earned on an investment, accounting for compounding interest.
  • DeFi: Short for Decentralized Finance, it refers to blockchain-based financial services that operate without central intermediaries.