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Mirror Protocol is a decentralised finance (DeFi) platform built on the Terra blockchain. As outlined in Mirror documentation, the ultimate goal of the project is to give users exposure to traditional financial markets while avoiding common issues such as high brokerage fees and global accessibility. The project facilitates this by creating fungible tokens, known as mAssets, that track the price of real-world assets. Mirror Protocol also distinguishes itself as an “inter-chain” platform, which means it can operate across multiple blockchains. There are currently 13 mAssets available for purchase, which track the prices of popular stocks (e.g. Apple and Tesla), commodities, derivatives and index funds. To mint an mAsset, users must deposit 150% of the asset’s value as collateral. This can be deposited in the form of TerraUSD (UST), other mAssets or cryptocurrencies such as LUNA or MIR. If the real-world asset exceeds the collateral ratio, the mAsset is liquidated. MIR is the governance token native to the Mirror Protocol network. It can be staked within the Mirror Protocol platform in return for rewards and is used as an incentive for users to deposit liquidity provider (LP) tokens back into the system. As previously described, it can also be used as collateral to mint mAssets.
Mirror Protocol (MIR) is the 496th largest cryptocurrency in the world by market cap, valued at $43,356,283. The current price of Mirror Protocol is $0.39258348, which is 16.413% higher than yesterday. Prices have ranged between $0.43123581 and $0.32178315 over the past 24 hours. All prices are listed in Australian dollars (unless otherwise noted) and accurate as of May 23, 2022 01:05 UTC.
| Coin symbol | MIR |
|---|---|
| Coin Marketcap | AUD$43,356,283 |
| Total MIR supply | 370,575,000 |
| Circulating MIR | 155,468,880 |
| Current price | AUD$0.39258348 |
| All time high | AUD$25.6479 |
| Notable team members | Do Kwon |
| Partnerships | Band Protocol |
| Industry | Synthetic asset exchange |
| Token uses | Governance |
| Network | Terra |
Historical prices compared with the price of $0.39258348.
| 1 hour | -3.13% |
|---|---|
| 24 hours | 16.41% |
| 7 days | -12.05% |
| 14 days | -70.84% |
| 30 days | -79.58% |
|---|---|
| 60 days | -83.47% |
| 200 days | -92.65% |
| 1 year | -94.00% |
Disclaimer: Cryptocurrencies, including Mirror Protocol, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of MIR is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Mirror Protocol or any other cryptocurrency discussed.
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