Mirror Protocol is a decentralised blockchain-based protocol that allows users to create and trade synthetic assets known as Mirrored Assets (mAssets). These mAssets mirror the price of real-world financial assets such as stocks and commodities, providing exposure to the price movements of these assets without the need to own them directly.
Mirror Protocol operates on the Terra blockchain using a Delegated Proof of Stake (DPoS) consensus mechanism. It utilises smart contracts to facilitate the creation, trading, and governance of synthetic assets. Mirror Protocol uses decentralised oracles to update price data, ensuring mAssets maintain their peg to real-world assets. The protocol includes various smart contracts like mirror_collector, mirror_factory, mirror_oracle, and more, to manage operations and ensure seamless interactions.
The primary use cases for Mirror Protocol include:
Mirror Protocol was launched by Terraform Labs in December 2020. It was founded by Do Kwon and Daniel Shin, who created Terra to enhance the adoption of blockchain technology. Key milestones include partnerships with UniLend, and the release of Mirror Protocol v2 in June 2021, which introduced new features and integrations to improve its functionality. The protocol faced challenges after the LUNA crash but has shown resilience with recovery signs in 2022.
The Mirror Protocol price is $0.04089386 AUD, representing a -8.98% from the day prior.
The best place to buy Mirror Protocol (MIR) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Mirror Protocol (MIR) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
The trading volume of Mirror Protocol (MIR) is $171.5K AUD in the last 24hrs, representing a -8.98% from the day prior.
Mirror Protocol (MIR) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
The current market cap of Mirror Protocol (MIR) is $6.3M AUD.
Yes - With Coinstash you can convert your Mirror Protocol (MIR) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
The current circulating supply of Mirror Protocol (MIR) is 156.1M.
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Mirror Protocol (MIR) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.