Mirror Community Update — January
Welcome to the first Mirror Protocol Community Update. Mirror’s community is proving to be extremely vibrant and everything Mirror has accomplished this month is a direct result of community initiative (and the development team implementing the initiatives, of course).
Starting with growth in numbers, Mirror’s TVL has tripled over the past month, currently at $330 MILLION within two months of launch. On average, 30,000 transactions are conducted and $36M in assets are traded on a 24H basis. The community pool holds over 36M MIR (or over $200M at time of writing). Liquidity (the total value of all mAssets and UST in liquidity pools) stands at $160M.
Community Governance Updates
The Mirror Community Forum is where the community proposes and discusses thoughtful changes to the protocol, which then go live for users to vote on Mirror governance. Since launch on Dec. 4, there have been over 50 forum proposals and over 60 on-chain proposals, a testament to the community’s intimate involvement. Here are a few of the most significant proposals in January:
- Increase APY in governance proposal
- Mirror Protocol’s Meme Contest
- Next Steps to new mAsset whitelisting proposals (MIP 1–40)
Upcoming Five New mAssets
Parameters for BTC, ETH, ABNB (Airbnb), GS (Goldman Sachs Group), and FB (Facebook) have been set and passed governance vote, meaning they will be the first batch of assets to be added to the original 14 on Mirror.
APY added as an optional feature
The Mirror community voted on a live poll to switch the default display from APY to APR on the Mirror platform — and that’s what we did. The APY, compounded daily, is still viewable as an optional feature.
GME & AMC on Mirror — Voting Live
Voting to whitelist GameStop and AMC on Mirror is live on Governance. Vote before the end time.
Mirror on Blockfolio — Vote
The community is voting to get Mirror on Blockfolio. Vote here.
Mirror Meme Contest
Spurred by an idea proposed by a Mirror community member, the Mirror Meme Contest is on. Show your meme game — post it to Mirror’s Twitter.
New Mirror Interface on Solidefi
Solidefi has created a Mirror interface to manage your synthetic portfolio more easily. Check it out here.
$MIR Listings
KuCoin
OKEx
1inch Exchange
Ox Protocol
Harvest Finance
- Deposit mTSLA-UST LP tokens into Harvest Finance and get rewarded in $FARM tokens. Note the opportunity to get additional $LUNA rewards for duration of 4 weeks.
For a comprehensive list of CEXs and DEXs on which $MIR is traded, see CoinMarketCap or Coingecko.
Mirror Partnerships
Mirror x Binance Smart Chain
Mirror Protocol integrated with Binance Smart Chain, sovereign smart contract blockchain with EVM compatible programmability, to bring synthetic assets to the BSC Community! Now, any user on Terra, Ethereum, and BSC has direct access to mAssets. We’ll be updating the BSC Community on Mirror’s progress, so join our community there.
- Terra — https://terra.mirror.finance/
- Ethereum — https://eth.mirror.finance/
- BSC — https://bsc.mirror.finance/my
mAssets have been rolled out on BSC AMM DEX and yield farm PancakeSwap and stablecoin DEX StablexSwap. PancakeSwap has added mAsset trading and farms for Apple, Amazon, Netflix, and Google stocks, enabling users to stake $CAKE to earn $UST. Learn more about the Syrup Pool here. On StablexSwap, UST will be listed against BUSD using the platform’s low-slippage bonding curve pool.
Mirror x UniLend
With UniLend, users can leverage synthetic assets (mAssets) as collateral to borrow and lend in a money market protocol for the first time.
Mirror x Mask Network
Our partnership with Mask Network allows users to buy stock synthetics (like $mTSLA) without even leaving Twitter, meaning anyone with an Internet connection has access to popular US stocks. Download the Mask Chrome extension here.
Interviews & AMAs
Mirror x SPAR Protocol: Community Proposal
Injective x BAND x Mirror Panel: Decentralized Stock Trading
Mikobits Interview
Community AMA (debate feat. OIO community member)
UniLend AMA
Persistence AMA
Public Features
Community Take on Mirror Protocol
Blockonomi: Guide to Mirror Protocol
Dapp.com: How to Stake mAssets
Mirror Bridges to BSC
Mirror on Twitter
Here’s what people have been saying about Mirror Protocol on Twitter.
Balaji Srinivasan (ex-CTO, Coinbase)
Ryan Hoover (Founder, Product Hunt)
Tarun Chitra (Founder, CEO Gauntlet)
Changpeng Zao (CEO, Binance)
Looking Forward
2021 has been momentous for Mirror Protocol and we look forward to the upcoming announcements, partnerships, and features. We’re always working hard to improve Mirror and rely on our brilliant community for feedback and ideas. This is just the beginning. Stay tuned!
Join Our Community
- Shape the future of Mirror through our Discussion Forum
- Provide feedback through our Community Feedback Form
- Join discussion on Telegram & Discord; speculate on $MIR price here.
