Mirror Protocol
Name
Mirror Protocol
Summary
-Mirror Protocol is a synthetic assets protocol established by Terraform Labs (TFL) on the Terra blockchain, and MIR is its governance token.
-It was founded by Do Kwon in 2018
-Mirrored assets are blockchain tokens that act as "mirrors" of real-world assets by reflecting on-chain exchange rates.
Rating
Symbol
MIR
Overview
Mirror Protocol is a decentralized finance (DeFi) platform that allows users to create synthetic assets or crypto tokens that mimic the price of real-world assets like equities.
TFL has no plans to hold or sell MIR tokens, and no administrator keys or special access capabilities have been issued. This project is intended to be entirely decentralized and community-driven.
Historical Price Movement (in INR)
Technology
Mirror Protocol is based on the Terra blockchain, but its synthetic assets, known as Mirror Assets (mAssets), are also available via bridges on Ethereum and Binance Smart Chain (BSC). They provide traders with price exposure to real assets while allowing fractional ownership, open access, and censorship resistance like any other cryptocurrency does. mAssets are synthetic and merely reflect the price movement of the corresponding asset, unlike standard tokens that represent a real, underlying item. The mirror is built using Rust programming language as it is the primary language used throughout the Terra Blockchain.
Use of Native tokens in the ecosystem
The protocol's native governance token, MIR, can be used for the following purposes:
Protocol Governance: MIR token holders can vote on the protocol's significant parameters, allowing them to participate in protocol governance. A governance proposal must be approved by most MIR token holders and takes roughly a week to take effect.
Staking MIR tokens can farm tokens from other Defi projects (PancakeSwap, Harvest, etc.).
Rewards for Liquidity Provision: MIR tokens will be awarded for providing liquidity on the platform.
Users will be able to utilize MIR tokens as collateral to mint mAssets and a range of derivative goods in the future.
Community Pool
34.6%
Airdrop
4.9%
Luna Staking reward
4.9%
mAsset LP staking reward
45.1%
MIR LP staking reward
10.4%
Volume (as of 21st March 2022)
$30,143,934
Total Supply
370575000
Circulating Supply
77,742,679.93 MIR
Crowd sales (if possible)
NA
Country
Singapore
Name of Organization
Terraform Labs Pvt.Ltd
Year Incorporated
2018
Registered Address
Singapore - 80 Raffles Place #32-01 Uob Plaza Singapore (048624)
Dispute Resolution and Governing Law
Singapore
Country Risk Assessment
A1
Founding Team
| Name | Designation | Education | Experience |
| Do Kwon | Co-Founder & CEO of Terra | Standford university: BS computer science | 5 yrs |
