Mirror Finance
1. Summary
- Description
-
Mirror Protocol
Mirror Protocol
Mirror Protocol is a decentralized finance (DeFi) protocol powered by smart contracts on the Terra network. It allows users to create synthetic assets, known as mAssets, which mimic the price behavior of real-world assets. These synthetic assets can be minted by depositing collateral and traded on automated market makers (AMMs), such as Terraswap.
Governance
The Mirror Protocol is governed by holders of its native governance token, MIR. MIR token holders can vote on proposals to change the protocol’s operational parameters and receive rewards for providing liquidity to the protocol.
Smart Contracts and Collateral
The protocol uses smart contracts to ensure that there is always sufficient collateral within the protocol to cover mAssets. Collateral can be in the form of TerraUSD (UST) or other mAssets. When the value of an mAsset increases, the collateral is adjusted to maintain a minimum collateralization ratio.
Liquidity
Mirror Protocol relies on automated market makers to maintain liquidity for mAssets. Users can provide liquidity to these AMMs in exchange for reward-bearing LP tokens.
Partnerships
Mirror Protocol has partnerships with other DeFi protocols and blockchains, such as Band Protocol for price oracles and Injective Protocol for derivatives trading. These partnerships enable users to access a broader range of assets and services within the DeFi ecosystem.
Token
The Mirror token (MIR) is the governance token of the protocol and is also used to incentivize users to provide liquidity to the protocol. MIR can be staked to vote on proposals and earn rewards.
| Price | |
| 52W High price | $0.008359200100 |
| 52W High date | 27th Oct 2022 (2 years ago) |
| All Time High (ATH) Date | 4th Dec 2024 (2 months ago) |
| All Time Low (ATL) Date | 4th Dec 2024 (2 months ago) |
| Supply & Trading Volume | |
| Trading Volume (24h) | $222.00 |
How does Mirror Finance's () performance compare to the median performance for assets of a similar market capitalization?
30 Day Return
%
51,605.8%
Similar Market Cap
No GitHub repos found. Either the project is not open source or we don't have data yet.
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Historic data is only available from 22nd April 2022
Total Followers
| Reddit Subscribers | |
|---|---|
| Active Reddit Users (past 24h) | |
| Discord users | |
| Active Discord Users | |
| Telegram Users | 3,970 |
| Twitter followers |
No recent news found.
Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:
| Website | https://mirrorfinance.io/ |
|---|---|
| Explorer | https://bscscan.com/token/0xAbC0eA3d5A7b4D85b44Ae9... |
| @mirrorappfi?s=21&t=J6gs3O_epTGW0ZZwpG4yJA |
What is the correct contract address for Mirror Finance?
| Binance-smart-chain | 0xabc0ea3d5a7b4d85b44ae90f71cc1bbd74f98af5 |
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Has Mirror Finance been audited for security?
No security audits found for this project.
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