MIR

Mirror ProtocolMirror Protocol price 
MIR

$0.0212  

15.79% (1d)

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Mirror Protocol statistics
Market cap
 

15.79%

$1,648,076
#1375
Volume (24h)
 

99.38%

$614,118
#1151
Volume/Market cap (24h)
 
37.26%
0
Circulating supply
 
77,742,680 MIR
Total supply
 
370,575,000 MIR
Max. supply
 
--
Fully diluted market cap
 
$7,855,860
MIR to USD Converter
MIR
USD
Price performance
24h 
Low
$0.02004
High
$0.02602
All-time high
Apr 10, 2021 (3 years ago)
$12.86
-99.84%
All-time low
Dec 04, 2020 (3 years ago)
 
No Data
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Popularity
In watchlists68,233x
547th / 8.9K
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About Mirror Protocol

What are Mirrored Assets?

MIR is the governance token of Mirror Protocol, a synthetic assets protocol built by Terraform Labs (TFL) on the Terra blockchain.

Mirror Protocol is decentralized from day 1, with the on-chain treasury and code changes governed by holders of the MIR token. TFL has no intention of keeping or selling MIR tokens, and there are no admin keys or special access privileges granted. The intent for this is to be a completely decentralized, community-driven project.

Mirrored assets are blockchain tokens that behave like "mirror" versions of real-world assets by reflecting the exchange prices on-chain. They give traders the price exposure to real assets while enabling fractional ownership, open access and censorship resistance as any other cryptocurrency. Unlike traditional tokens which serve to represent a real, underlying asset, mAssets are purely synthetic and only capture the price movement of the corresponding asset.

Mirrored assets provide the following advantages:

  • Global Accessibility: In most markets outside of Europe & North America, access to foreign equities and forex markets is highly limited. Crypto allows global accessibility without entry barriers.
  • Fractional Orders: In traditional finance, to execute a fractional order, multiple fractional orders are bundled together to execute a unitary transaction. The process of gathering all the orders into one requires additional waiting time. By utilizing the blockchain, orders volume is simply represented as a number on the blockchain, so there is no need for the intermediary bundling process.
  • Nearly-Instantaneous Order Execution: Oftentimes due to the lack of liquidity (price-time-priority order book algorithm), orders can take up to a day to fully execute. Given the fact that Mirror relies on liquidity provided by each individual asset pool, orders can be executed as fast as the blocktime of the network (~ 6 seconds).