Mirror is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets.
The minting of mAssets is decentralized and is undertaken by users throughout the network by opening a position and depositing collateral. Mirror ensures that there is always sufficient ... collateral within the protocol to cover mAssets, and also manages markets for mAssets by listing them on Terraswap against UST.
The Mirror Token (MIR) is minted by the protocol and distributed as a reward to reinforce behavior that secures the ecosystem. With it, Mirror ensures liquid mAsset markets by rewarding MIR to users who stake LP Tokens obtained through providing liquidity. Also to incentivize users to ensure mAssets to mimic the price behavior of real-world assets, users who stake sLP Tokens obtained through shorting mAssets are rewarded with MIR.MIR is valuable as it is can be staked to receive voting privileges and to earn a share of the protocol's CDP withdrawal fees.
Mirror Protocol [MIR] is a token based on Ethereum blockchain. The most actual price for one Mirror Protocol [MIR] is $0.128341. Mirror Protocol is listed on 6 exchanges with a sum of 14 active markets. The 24h volume of [MIR] is $931 415, while the Mirror Protocol market cap is $9 977 599 which ranks it as #580 of all cryptocurrencies. You can find more information about Mirror Protocol [MIR] on docs.mirror.finance mirror.finance
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