An Overview of Synthetic Assets on Mirror Protocol

Quick Take

  • Mirror Protocol is a synthetic asset issuance platform built on the Terra blockchain (Cosmos SDK) that launched on December 3rd, 2020
  • Since its launch, Mirror Protocol has facilitated a peak of $44.4 million in daily trade volume and has $188.9 million in locked liquidity
  • Mirror Protocol’s design resembles that of stablecoin issuance protocol MakerDAO, which has led to an issue where synthetic assets trade at a premium to their real market price
Synthetic asset protocol design DeFi protocols for issuing and trading synthetic assets can be built in various ways — each with its own set of tradeoffs and strengths — but the big questions that have to be answered are: By what mechanism does the price of the synthetic asset track the price of the underlying […]

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