Phase 1 is where it begins. Five flagship prediction markets. Five major Solana protocols. The foundation of onchain insurance.
Genesis Launch
Phase 1 deploys 5 insurance markets targeting the largest, most critical protocols in Solana DeFi. These aren’t random picks—they represent the core infrastructure where billions in user funds are exposed.The Genesis Five
Jupiter
Market: “Will Jupiter TVL drop by 50% in the next 30 days?”Jupiter is Solana’s dominant DEX aggregator, routing billions in swaps. A TVL collapse would signal ecosystem-wide distress.
Meteora
Market: “Will Meteora TVL drop by 50% in the next 30 days?”Meteora powers concentrated liquidity on Solana. LPs and yield farmers are heavily exposed to protocol risk.
Jito
Market: “Will Jito TVL drop by 50% in the next 30 days?”Jito’s MEV-powered staking attracts massive SOL deposits. Validator issues or MEV disruptions could crater value.
Kamino
Market: “Will Kamino TVL drop by 50% in the next 30 days?”Kamino’s lending and liquidity products hold significant user capital. Bad debt events could trigger cascading losses.
Sanctum
Market: “Will Sanctum TVL drop by 50% in the next 30 days?”Sanctum’s LST infrastructure is critical for liquid staking. Slashing events or validator failures hit Sanctum users first.
Phase 1 Treasury Allocation
2% of total $MITH supply is allocated to Phase 1 market liquidity.
| Allocation | Purpose |
|---|---|
| 40% | Initial market liquidity seeding |
| 40% | Ongoing NO-side buying (YES subsidization) |
| 20% | Reserve for market stability interventions |
- ✅ Deep liquidity from day one
- ✅ Consistently affordable YES hedges
- ✅ Buffer against market volatility
How to Participate
As a Hedger (Protection Buyer)
1
Connect Wallet
Link your Phantom, Solflare, or compatible Solana wallet.
2
Choose Your Market
Select the protocol you have exposure to. Have assets in Kamino? Go to the Kamino market.
3
Buy YES Shares
Purchase YES tokens. Your cost = your premium. If the event triggers, you receive the full payout.
4
Sleep Better
Your position is now hedged. If disaster strikes, you’re protected.
As a Speculator (NO Position)
- Why take NO? If you believe the protocol is solid and the event won’t happen, NO shares offer yield.
- Protocol support: Mithril’s treasury actively buys NO, but retail participants can too.
Fee Structure
| Fee Type | Rate | Distribution |
|---|---|---|
| Trading Fee | 1% | Protocol treasury |
| Creator Fee | 0.5% | 50% → $MITH buyback, 50% → Operations |
Market Resolution
Markets resolve automatically based on onchain data:1
Oracle Monitoring
Protocol TVL is tracked via DeFiLlama and onchain data sources.
2
Threshold Check
At market expiry, oracle confirms if TVL dropped ≥50% from baseline.
3
Automatic Settlement
YES holders receive payouts if threshold breached. NO holders receive payouts if not.
No disputes. No committees. Pure onchain truth.
Phase 1 Timeline
| Milestone | Target |
|---|---|
| Market Deployment | Launch Day |
| Initial Liquidity Seeding | Launch Day |
| First NO Subsidization | Day 1-3 |
| Full Market Activity | Week 1 |
| First Market Resolution | Day 30 |
What’s Next?
Phase 1 proves the model. Phase 2 scales it.Phase 2: Expansion
10+ new protocols. Community governance. Broader coverage.