Mirror Wallet — Premier Mobile Wallet Built on Mirror Protocol

Mirror Wallet
Dec 17, 2020 · 4 min read
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Two weeks ago, Terra successfully launched Mirror Protocol, the first synthetic assets protocol granting traders price exposure to popular US stocks, futures, exchange-traded funds (ETFs), and additional traditional financial assets. Mirror’s appeal lay with its ability to grant anyone in the world the unprecedented opportunity to invest in synthetics — an innovative and growing class in the financial sector — tracking the prices of a variety of US stocks.

Today, we are excited to announce the next evolution: Mirror comes to mobile! The team at ATQ Capital proudly presents Mirror Wallet, the very first mobile wallet built on Mirror Protocol, is now live on Google Play and Apple Store!

Download Mirror Wallet: www.mirrorwallet.com

What is Mirror Wallet?

Mirror Wallet is a fully non-custodial mobile wallet. It enables users to purchase the initial 13 “Mirrored Assets” (mAssets) — synthetic assets tracking the prices of the most popular US technology stocks, including Apple, Google, Tesla, Netflix, Twitter, Microsoft Corporation, Amazon and Alibaba — using TerraUSD (UST).

Bitcoin and Tether will soon be added as payment options as well.

Traders can engage in buying and selling TradFi assets that are typically difficult to access for many investors in foreign markets without onerous costs or excessive regulatory hurdles precluding them from participating. For example, a trader in SE Asia can speculate on an mAsset reflecting US-based Apple stock on Mirror without going through costly international brokers, KYC/AML processes, and punitive capital control penalties.

New assets beyond the initial 13 mAssets can be introduced by anyone holding MIR tokens — Mirror Protocol’s governance token. The proposal is put to a vote, and if the Decentralized Autonomous Organization (DAO) behind for Mirror’s governance passes the proposal, the new asset is added to the list.

What does Mirror Wallet Offer?

To enhance the user experience on Mirror Protocol and increase the availability of stocks across a variety of platforms, Mirror Wallet provides users with the opportunity to:

  • Purchase fractional shares. As blockchain tokens, mAssets can be held in fractional amounts and traded easily, all while maintaining open access and censorship resistance. Given the administrative and fee expenses of trading leading US stocks, fractional shares further diminish accessibility barriers for a broad range of global users.
  • Trade anytime. Unlike US equities, whose trading hours are restricted to New York’s operational hours (9:30 AM — 4 PM EST), mAssets are not confined to a particular timezone. They can be traded anytime, anywhere.
  • Cash out at any point. UST can be withdrawn from Mirror Wallet and sent to an exchange account at any point in time without KYC/AML processes.
  • Choose from a variety of funding methods:
    1. Deposit UST by sending UST to the respective wallet address.
    2. Use a credit card to purchase UST via 3rd-party service provider MoonPay.
    3. Swap LUNA to UST on Terraswap or an exchange.
  • Maintain security — simply.
    We ensure maximum protection for your wallet with universal key management while removing the complexity of managing private keys and seed phrases. Security is simplified using Torus, so users don’t need to remember their seed phrases and can link their wallet directly to their Google, FB, or Apple IDs.
  • Enjoy a streamlined interface. Mirror Wallet’s interface has been optimized for an intuitive user experience, rivaling the likes of Robinhood.

How Can I Use Mirror Wallet?

  • To create a new account, click Create Account, select Continue with <Google / Facebook / Apple>.
  • To deposit UST, select from the following options:
    1) Deposit UST by sending UST to the respective wallet address
    2) Purchase UST via credit card through 3rd-party service provider MoonPay
    3) Deposit LUNA and convert to UST
  • To Buy / Sell mAssets, navigate to the Invest tab, select the Mirror Asset that you wish to buy / sell, click Buy/Sell, enter in the amount to sell (in mAsset) and Confirm.
  • To withdraw deposit, click on the Wallet icon and select the Withdraw option.

Exclusive Promotion

To reward the most active traders on Mirror, eligible users will be airdropped additional UST as a promotional reward exclusively through Mirror Wallet. The reward amount is prorated to their individual trading volume.

Details

Promotion 1

Promotion 2

Find more details regarding promotion guidelines on the Mirror Wallet web page.

What’s Next?

As an open-source decentralized protocol, Mirror Protocol provides an unrivaled opportunity for people around the world to have greater access to attractive financial assets. We are particularly excited to support this protocol by offering Mirror Wallet as a complementary addition to the family.

We anticipate Mirror Wallet will democratize accessibility to US equities for millions of users worldwide who haven’t yet had the opportunity to participate in the US stock market. Our technical team is working closely with Terra to continuously improve and integrate additional features to the current platform. Stay tuned for new projects built by the community on Mirror Protocol!

Mirror Protocol

Synthetics protocol for on-chain price exposure to real world assets.

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