1/ A fair launch, with many moving pieces involving :
Conversation
2/ Mirror is simple: it mirrors real world assets on-chain. mAssets can be configured to track prices of anything
Initially, we think US equities can be an especially compelling use case for mirror.
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3/ Why US equities? First, US companies dominate global industries and their equities are therefore globally compelling, but access to the asset class is limited by local protectionism, adverse trading hours and legacy systems.
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4/ ... crypto fixes this. Mirrored assets can be traded on terraswap.io, , or any crypto exchange - allowing for 24/7 trading hours, fractional ownership, and censorship resistance
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5/ But more importantly, it allows US equities to become programmable - imagine being able to use assets of tangible value as DeFi primitives instead of random food coins. This vastly expands the TAM of DeFi.
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6/ In order to maintain censorship resistance, Mirror is entirely decentralized from day 1 - the protocol is governed by the MIR token, setting economic parameters, controlling the on-chain community fund, and recommending code changes. TFL has no special owner / operator keys.
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7/ The MIR token is fairly & widely distributed. First, 15% of the year 1 supply is given to Luna stakers to align incentives of the dapp with the base layer. 5% is airdropped to UNI holders to align incentives with strong believers in the DeFi community.
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8/ Mirror is interchain - mirrored assets are available for trading on Terraswap, and via the shuttle bridge on . Mirror will be on more blockchains as bridges become more widely available.
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Replying to
10/ We collaborated closely with on the Mirror Protocol design and launch - aXRPc's detailed analysis on Mirror's value prop and mechanism analysis is a must-read for incoming community members and users:
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11/ Going forward, we look forward to being active contributors in the community to help succeed. Here's to taking a meaningful step in bringing real world assets on-chain 🚀
-end-
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