Skip to content

Vault Overview

Compare mMITOc, mMITOs, and gmMITO vaults

Munja LST consists of 3 Vaults.

mMITOcmMITOsgmMITO
StandardERC4626ERC20ERC4626
Underlying AssetWMITOtMITOgovMITO
Exchange RateVariable (slashing)Fixed 1:1Variable (compounding)
Slashing ExposureYesNoNo
RewardsgmMITO (claim separately)gmMITO (claim separately)Auto-compounding
Withdrawal Wait7 days7 days14 days

Exchange Rate Mechanism

mMITOc (Variable)

exchange rate = totalAssets / totalSupply
  • totalAssets: Collateral value reported by Oracle
  • When slashing occurs, totalAssets decreases → exchange rate drops

mMITOs (Fixed)

exchange rate = 1:1 (always)
  • Stake 100 tMITO → 100 mMITOs
  • Unstake 100 mMITOs → 100 tMITO

gmMITO (Increasing)

exchange rate = totalAssets / totalSupply
  • On compound() call: totalAssets increases, totalSupply unchanged
  • Exchange rate increases over time

Reward System

Reward SystemReward System

mMITOc / mMITOs

Rewards accumulated separately from share value:

rewardPerShare: accumulated rewards per share
earned = balance × (rewardPerShare - userRewardPerSharePaid)

Claim gmMITO via claimRewards().

gmMITO

Rewards added directly to Vault assets:

compound() called
→ Vault claims staking rewards
→ govMITO added to Vault
→ No additional gmMITO minted
→ Exchange rate increases

Withdrawal Process

Same for all Vaults:

  1. Request withdrawal → tokens burned
  2. WithdrawalNFT minted
  3. Wait 7 days (14 days for gmMITO)
  4. Burn NFT → receive underlying assets

Next