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$4.3543

  0.45%

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What is Mirror Protocol?

Mirror Protocol (MIR) is a Decentralised Finance (DeFi) platform that enables the creation of synthetic assets called Mirrored Assets (mAssets).

  • Using the protocol, users can act as a trader, minter, liquidity provider & staker.
  • To mint a mAsset an issuer must lock up more than 150% of the current asset value in Terra stablecoins or mAssets as collateral. If the value of the asset rises above the collateralisation threshold, the collateral is liquidated to guarantee solvency of the system.
  • The protocol accesses underlying asset prices via a decentralised price oracle where prices are updated every 30 seconds. When the price of the mAsset drifts from the primary market, traders are incentivised to trade the asset in for collateral.

Mirror Protocol allows users to access synthetic assets that mimic the price behaviour of real-world assets. This gives traders global access to price exposure without the burden of owning or transacting real assets.

How do I buy Mirror Protocol?

1.
Deposit funds into your account.
2.
Enter the amount of Mirror Protocol (or Australian Dollar equivalent) that you would like to buy.
3.
Click ‘Buy' to confirm your Mirror Protocol purchase and your Mirror Protocol will arrive in your CoinSpot wallet within minutes.
Don't have an account? Click here.