Mirror Protocol — a new defi project, powered by smart contracts on the Terra network that allows the creation of synthetic assets, called Mirrored Assets (mAssets). mAssets simulate the price behavior of real assets and provide traders anywhere in the world with open access to price risks without the burden of owning or dealing with real assets.
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Description of the Mirror Protocol site
The crypto project ensures that there is always sufficient collateral in the protocol to cover the mAsset, and also manages the mAsset markets by exposing them to Terraswap against UST.
With it, the Mirror provides liquid markets by rewarding MIRs to users who place bets on LP tokens, derived from the provision of liquidity. In addition, to encourage users to ensure that toolboxes mimic the price behavior of real assets, users who stake on sLP tokens, obtained by short-circuiting the sets, get awards - MIRs.
Some features:
| 1 | Mirror — a project, developed and managed by its community. Its markets are supported by its own users through MIR incentives, and the protocol is evolving with new ideas through democratic governance. |
| 2 | MIR is valuable as it can be wagered to gain voting rights and earn a fraction of the CDP removal fee. |
The aim of mAsset - mimic the price trends of real exchange-traded underlying assets and provide investors with access to both domestic and foreign markets. While mAAPL attempts to represent the movement of AAPL stock, users are not granted any rights to the underlying asset and tracking errors may occur due to imbalances in trading volume in the underlying and Terraswap markets. There is a fixed commission - LP commission, which is 0.30%. It serves as a reward for liquidity providers and pools, associated with Mirror on Terraswap.
Social networks of this crypto exchange
There is an introductory document on the site. With its help, each participant can study the features of the project and the rules of work. Also, there is a section with answers to questions.
From social networks, the community leads:
Subscribe and stay tuned. The smart contract has not been audited.