Mirror Protocol
Synthetics protocol for on-chain price exposure to real-world assets. https://mirror.finance/https://twitter.com/mirror_protocol
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Welcome to the first Mirror Protocol Community Update. Mirror’s community is proving to be extremely vibrant and everything Mirror has accomplished this month is a direct result of community initiative (and the development team implementing the initiatives, of course).

Starting with growth in numbers, Mirror’s TVL has tripled over the past month, currently at $330 MILLION within two months of launch. On average, 30,000 transactions are conducted and $36M in assets are traded on a 24H basis. The community pool holds over 36M MIR (or over $200M at time of writing). …


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We’re thrilled to announce that Mirror will be participating in Mask Network’s second Initial Twitter Offering (ITO), with mTSLA the featured synthetic equity.

In light of recent events involving WallStreetBets and Robinhood, which dominated the discourse on Twitter last week, we’re excited to offer mTSLA through Mask Network on Twitter. The ITO will grant exposure to the power of Mirrored Assets (mAssets) to a social media audience anxiously anticipating an alternative to conventional trading apps like Robinhood.

Permissionless access for users worldwide, synthetic assets, no censorship of trading — all without leaving Twitter. …


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Mirror has completed the integration of a cross-chain bridge to Binance Smart Chain (BSC) — bringing synthetic assets to the BSC community. The bridge enables porting of Terra’s stablecoin UST, its native token LUNA, governance token MIR, and Mirrored Assets (mAssets) to BSC. Initially, the assets will be rolled out on BSC DeFi applications PancakeSwap and StableXSwap.

“We’re thrilled to extend access to Mirror’s synthetic assets to the Binance Smart Chain community,” says Terraform Labs Co-Founder & CEO, Do Kwon. “The exposure to mAssets via a cross-chain bridge is a powerful avenue for increasing composability and liquidity across blockchain networks…


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Mirror Protocol is pleased to announce our collaboration with Mask Network, the web plug-in for accessing the open internet, to bring mirrored assets (mAssets) to major social networks. The collaboration will enable Mask users to view and trade mAssets directly on Twitter via the mask web extension and access Terra’s UST stablecoin.


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Mirror is pleased to announce our partnership with UniLend, a decentralized money market protocol, to bring major mAssets to UniLend’s lending protocol. The mAssets will serve as collateral for borrowing and can be deposited by liquidity providers (LPs) on UniLend’s platform to generate yield.

The integration will be the first case of synthetic equities used for collateral in a DeFi money market protocol.

Mirrored Assets as Collateral on UniLend

“We’re thrilled to extend the functionality of mAssets as collateral in a lending protocol like UniLend,” says Do Kwon, Co-Founder & CEO of Terra.

“The deployment of mAssets can play a significant role in improving capital efficiency…


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Injective Protocol, a high-speed layer 2 derivatives exchange also built on the Cosmos SDK, is strategically partnering with Mirror Protocol to build atop Mirror’s framework of tokenizing traditional stocks to provide decentralized futures stock trading. Injective’s new feature enables users on their Solstice Testnet to access the $90 trillion stock market in a decentralized fashion, powered by Band Protocol’s oracles. Beginning with Tesla, Airbnb, Google, and Amazon, Injective will continue to add new markets to its platform, leveraging Mirror’s market prices to enable 24/7 global access to stock futures.

Scaling Global Price Exposure to Popular Assets

In the ethos of furthering global accessibility for price exposure to…


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Mirror has strategically partnered with cross-chain data oracle Band Protocol, successfully integrating price feeds for an initial set of assets, covering blue chip stocks, commodities and ETFs. To ensure that the price of an mAsset is pegged to the real asset, the system has integrated low-latency and decentralized oracles from Band Protocol, which update every 15 seconds on the BandChain decentralized oracle network. Mirror currently holds over $54M in total value locked, secured by Band Protocol.

Band Oracles Powering mAssets

Band Protocol, a cross-chain data oracle that aggregates and connects real-world data and APIs to smart contracts, provides real-time prices for the initial…


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MIR is the governance token of Mirror Protocol, a synthetic assets protocol built by Terraform Labs (TFL) on the Terra blockchain.

Mirror Protocol is decentralized from day 1, with the on-chain treasury and code changes governed by holders of the MIR token. TFL has no intention of keeping or selling MIR tokens, and there are no admin keys or special access privileges granted. The intent for this is to be a completely decentralized, community-driven project.

Token distribution allocations and timeline can be found below:


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Background

The DeFi boom has given us a number of applications built on top of the Ethereum network and an unappetizing variety of food tokens of questionable intent. While we appreciate the abundance of gastronomical options, what we truly crave is substance — something built on real world value. To that end, we introduce Mirror — a DeFi protocol that enables Mirrored Assets (mAssets): synthetic assets that give traders price exposure to real-world assets by reflecting their price activity on-chain.

We take the best that DeFi has to offer and pair it with real-world asset exposure on an interface accessible on…

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