Mirror Protocol MIR

1. Summary

Ranks

Liquidity

39

Developer

-

Social

93

Momentum (beta)

12

Stack Rank™

-

Price

$0.02 +5.8%

Market Cap

$3.76M (#1880)

Supply

156.06M / 370.58M

Tags

Binance Smart Chain Ecosystem DeFi Cosmos Ecosystem Derivatives Synthetic Issuer Terra Ecosystem Ethereum Ecosystem BNB Chain Ecosystem Alleged SEC Securities Pantera Capital Portfolio

More Metrics

Price
52W High price	$0.12
52W High date	9th Mar 2024 (4 months ago)
All Time High (ATH) Date	10th Apr 2021 (3 years ago)
ATH Price	$12.90
% From ATH	-99.79%
All Time Low (ATL) Date	21st Nov 2023 (8 months ago)
ATL Price	$0.009794250000
% From ATL	181.52%

Supply & Trading Volume
Trading Volume (24h)	$73,461.00
Total Supply	370.58M
Max Supply	370.58M
Circulating Supply	156.06M

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Description

Mirror Protocol is a decentralized synthetic assets protocol built by Terraform Labs (TFL) on the Terra blockchain. It allows the creation of fungible tokens that track the price of real-world assets such as stocks and equities, providing global accessibility and fractional ownership without the need for direct asset ownership. The protocol is gove...

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Mirror Protocol is a decentralized synthetic assets protocol built by Terraform Labs (TFL) on the Terra blockchain. It allows the creation of fungible tokens that track the price of real-world assets such as stocks and equities, providing global accessibility and fractional ownership without the need for direct asset ownership. The protocol is governed by the holders of its native Mirror token (MIR).

Governance and Token Utilization

• MIR Token: The Mirror token is the governance token of Mirror Protocol. It must be staked to vote on active polls and is required as a deposit for making new governance polls. Users that stake MIR tokens also earn MIR rewards generated from withdrawing collateral from CDP positions within the protocol.

Mirrored Assets

• mAssets: Mirrored assets are blockchain tokens that behave like "mirror" versions of real-world assets by reflecting the exchange prices on-chain. They offer global accessibility, fractional orders, and nearly-instantaneous order execution.

Incentives and Liquidity

• LP Tokens: MIR is used to incentivize users to farm yields by staking LP tokens for mAssets and Mirror Protocol liquidity pools. Yield is paid from newly minted MIR through annual inflation, which increases the total supply of MIR.

Token Distribution

• Total Supply: The total supply of MIR tokens is planned to be 370,575,000. Tokens are distributed over 4 years, with no more new MIR tokens introduced to the supply after that.
• Genesis: At genesis, 54.9M tokens are available. Distribution includes:
  • UNI Airdrop: 16.66% (9.15M) tokens airdropped to UNI holders.
  • LUNA Staker Airdrop: 16.66% (9.15M) tokens airdropped to LUNA stakers.
  • Community Pool: 66.66% (36.6M) tokens allocated to community pool.

Future Development

• Future Iterations: The utility and value of MIR will increase in future iterations, serving additional purposes within the protocol.

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