Mirror Protocol (MIR)
| Market Cap | $1,471,601 |
|---|---|
| Trading Volume | $6,969.52 |
| Volume / Market Cap | 0.004736 |
| Total Supply | 1,300,000,000 MIR |
| Max Supply | 1,300,000,000 MIR |
Mirror Protocol is currently trading at $0.1307, after a price change of 0.79% in the last 24 hours.
Ranked as cryptocurrency #1251 by capitalization today, MIR market cap is valued at $1,471,601. MIR trading volume reached $6,969.52 in the last 24 hours. We track cryptocurrency data live in real-time. Make your own forecast on MIR coin price prediction page.
What is Mirror Protocol?
Mirror Protocol is a decentralized finance platform using smart contracts in the Terra blockchain to deploy synthetic assets called mirrored assets. Mirrored assets reflect the price movements of their real assets and enable traders to have a price exposure without the need to own the assets itself.
The mAssets are minted decentrally by opening a position and depositing a collateral. The assets are minted by users in exchange for Terra Stablecoins and mAssets deposited in Collateralized Debt Positions. The mirrored assets are supported on Terra, Ethereum, and BNB Chain. Mirror benefits from Terra’s proof-of-stake consensus based on Tendermint to secure its network.
MIR is the native token powering Mirror protocol used as incentive in governance and to secure the ecosystem. There are currently 77,742,679.93 circulating MIR tokens from an uncapped total supply of 370,575,000. Users who stake MIR are rewarded with LP tokens obtained through liquidity provision.
The initial MIR token supply was 54,900,000 and the platform applies a general inflationary emission and a decreasing inflation rate. The initial supply was set for premined and airdrop, where the UNI airdrop got 16.6%, LUNA staker airdrop 16.66%, and the community pool was allocated 66.66% of the supply. Mirror was launched in 2020 by Terraform Labs as a stabilized liquid derivative asset on Terra.