A brief showcase of transactions on mirror.finance
Introduction
Mirror is a decentralized finance protocol, built on the Terra blockchain to trade synthetic assets, also known as stonks or mAssets. Mirrored assets track/mirror the price of regular stocks, hence, the name "mirror".
Acquiring MIR
MIR is Mirror's native token and is distributed as an incentive for liquidity providers on the platform. However, one could also obtain MIR tokens by swapping. Here's a sample transaction showing the acquisition of MIR tokens via a UST swap.
Buying mTSLA
On UST, you can create long and short positions as is done normally on stock brokerage apps like Robinhood. In this demo, we go long on nTSLA (Tesla Stonk) by making a purchase.
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Conclusion
Mirror aims to be the Robinhood of the crypto space, where everybody could have access to, and purchase a mirrored version of real-life stocks. Although synthetics may not come with the benefits associated with regular stocks, we see the possibilities of innovations in crypto.
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