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Mirror Protocol
Synthetics protocol for on-chain price exposure to real-world assets.

Dear Mirror Community,

Thanks to continual community support and invaluable feedback over the last six months since launch, Mirror Protocol is now preparing to launch V2. Mirror has also celebrated some impressive milestones: surpassing $2B in TVL and $1B in liquidity, becoming a top 15 DeFi protocol; releasing Coinbase (mCOIN) as the newest mirrored asset; $MIR being listed on Binance and Huobi; and certainly not least, the introduction of limit orders on Mirror.

With the upcoming introduction of Mirror V2, we look forward to seeing Mirror Protocol continue to flourish under the governance of the Mirror community!

Mirror Milestones

Dear Mirror Community,

Mirror has been steadily growing in adoption, with TVL nearly doubling over the past few weeks ($800M → $1.5B) and liquidity doubling as well ($360M → $740M). New assets are continually voted on, with whitelisted assets added — mSPY (S&P 500) index being the latest addition to mirrored assets. Mirror is continually becoming more user-friendly and efficient — with the period required to whitelist an asset significantly shortened and the collateral ratio lowered to 130% (for certain assets).

Set Protocol has launched a custom FAANG index set comprised of mAssets, which speaks to the composability of mAssets…

We’re thrilled to announce the launch of a custom FAANG set developed using the industry-leading index tools by Set Protocol, the Ethereum-based protocol for standard, tokenized asset baskets. The FAANG set will be composed of 5 major tech equity mAssets on Mirror — Facebook, Amazon, Apple, Netflix, and Google!

You can now buy an equally weighted tokenized basket of major tech equities derived from Mirror Protocol on Terra via Ethereum’s Uniswap. Eligible non-U.S. users can also interact with the FAANG set from the TokenSets protocol directly, similar to how the DeFi Pulse Index (DPI) currently operates on the protocol. …

Dear Mirror Community,

February was an epic month for Mirror, with the GameStop saga bringing in users seeking decentralized alternatives to Robinhood. In terms of numbers, we saw TVL on Mirror first cross 200M UST, then celebrated reaching 500M UST, and now have over 800M in UST now locked on Mirror, all within 3 months of launch! We’ve had a few more events to celebrate, so let’s jump right in.

Mirror Milestones

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). …

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. …

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…

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.

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.

“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…

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.

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

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