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Phase 1 is where it begins. Five flagship prediction markets. Five major Solana protocols. The foundation of onchain insurance.

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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.

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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.

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Phase 1 Treasury Allocation

2% of total $MITH supply is allocated to Phase 1 market liquidity.
This allocation ensures:
  • ✅ Deep liquidity from day one
  • ✅ Consistently affordable YES hedges
  • ✅ Buffer against market volatility

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How to Participate

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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.

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As a Speculator (NO Position)

Taking NO positions means you’re betting against the adverse event. If it occurs, you lose your stake.
  • 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.

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Fee Structure

Daily Buyback: Every 24 hours, 50% of accumulated fees are used to purchase $MITH on open markets.

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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.

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Phase 1 Timeline

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What’s Next?

Phase 1 proves the model. Phase 2 scales it.

Phase 2: Expansion

10+ new protocols. Community governance. Broader coverage.