Launch on CoinW: 17:00 (UTC+8), December 15, 2020
1. Project Introduction
Mirror Protocol is a synthetic asset protocol built by Terraform Labs, and MIR is the governance token of Mirror Protocol. Terra is a stable currency project in South Korea. The daily active users of its payment DApp CHAI is 580,000, which ranks top among other DApps. When the token was created, Mirror airdropped 9.15 million MIRs to holders of UNI and LUNA, so there are many holders. There are 13 types of mAssets in Mirror at the beginning, and each represents a mirrored asset of a US stock that will be launched in Terraswap and Uniswap respectively. Providing mAsset/UST liquidity can also get MIR rewards.
2. Token Allocation
Initial Token Supply: 54.9 million
UNI Holder Airdrop: 9.15 million
LUNA Holder Airdrop: 9.15 million
Community Development Fund: 36.6 million
Later, newly created MIR will be mainly issued to liquidity providers.
3. Latest News
①Mirror Protocol launched on December 4
②On December 8, reached a cooperation with the cross-chain oracle Band Protoco to use it to realize the maker of mAssets
4. Website & Media Accounts
Official website: coinw.pw
QQ group: 978764788
Twitter: https://twitter.com/Coinw_exchange
Facebook: https://www.facebook.com/CoinW-Exchange
5. Research Interpretation
Compared with the existing synthetic asset protocol, Mirror has many advantages:
Take the lead in realizing synthetic stocks on the chain, while Synthetix has been promoting synthetic stocks for more than a year, and it has not been online yet
It can use stable coins to synthesize stock assets, while Synthetix only supports collateral of its platform-based SNX
The collateral rate is only 150%, which is basically the same as that of Maker and other protocols, but in synthetix, 650% of the over-collateralization is required to get the most rewards (which is also related to the unstable price of SNX)
Terra has huge user base
6. MIR Groups
TG:https://t.me/CoinwExchangeEnglish
CoinW Research&Selection
December 15,2020