Mirror Protocol
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Mirror Protocol

Mirror Community Update — March

Dear Mirror Community,

Mirror has been steadily growing in adoption, with TVL nearly doubling over the past few weeks ($800M → $1.5B) and liquidity doubling as well ($360M → $740M). New assets are continually voted on, with whitelisted assets added — mSPY (S&P 500) index being the latest addition to mirrored assets. Mirror is continually becoming more user-friendly and efficient — with the period required to whitelist an asset significantly shortened and the collateral ratio lowered to 130% (for certain assets).

Set Protocol has launched a custom FAANG index set comprised of mAssets, which speaks to the composability of mAssets. They can be easily ported to other blockchains through the newly-released Terra Bridge and serve as building blocks for innovative DeFi products. This is just the beginning for Mirror, so stay tuned for more.

Mirror Dashboard — March 24, 2021

Mirror Milestones

  • Mirror reaches a major milestone, surpassing $1B in TVL within 3 months of launch, and is currently at $1.5B.
  • Mirror Protocol adds a new asset: Mirrored SPY Index (S&P 500). You can mint mSPY or stake in the mSPY-UST LP.
  • Set Protocol, an Ethereum-based platform for tokenized index tooling, launches a custom FAANG index set for 5 major tech Mirror’s mAssets — Facebook, Amazon, Apple, Netflix & Google.
  • Mirror Wallet now supports onramps in BTC, ETH, USDC, & USTD.

Ecosystem & Community Updates

  • Mirror Analytics now on Smartstakeincluding details around the weekly MIR airdrop.
  • Token Terminal launches the Mirror dashboard, enabling users to track Mirror with traditional metrics.
  • We’re looking to join forces with devs familiar with CosmWasm to bring Chainlink oracles to Mirror Protocol. Developer grants will be provided. Reach out to ecosystem@terra.money if interested.
  • Terra Bridge goes live, providing a single interface to transfer assets between Terra, Ethereum, & BSC. Interchain transfers have never been so easy. Code can be found here.
  • ApeBoard supports Mirror, enabling users to manage their staked $MIR and mAssets (alongside $LUNA and $ANC) across Terra, Ethereum, and BSC in one place.
  • MIR joins the PancakeSwap Syrup Pool, in which users can stake $CAKE to earn $MIR.

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