Mirror

Introduction to Mirror

Mirror is a DeFi protocol powered by smart contracts on the Terra network capable of synthesizing synthetic assets of mirror assets (mAssets). By reflecting on-chain transaction prices to "mirror" the prices of real-world assets, traders can conduct price transactions on real assets.
The minting of mAssets is decentralized and performed by users across the network by opening positions and depositing collateral. Mirror ensures that there is always sufficient collateral within the protocol to cover mAssets and manages the market for mAssets by listing them against UST on Terraswap.
Mirror Tokens (MIR) are minted by the protocol and distributed as rewards to strengthen behaviors that secure the ecosystem. With it, Mirror ensures a liquid mAAsset market by rewarding MIR to users who earn LP tokens by providing liquidity. MIR is valuable because it can be staked to gain voting rights and receive a share of the protocol's CDP withdrawal fees.
Mirror is a project developed and directed by its community: its marketplace is maintained by its own users through MIR rewards, and the protocol develops new ideas through democratic governance.