Mirror Token (MIR) is the native token of the protocol that aims to secure the ecosystem.
What is Mirror Protocol (MIR)?
Mirror Protocol (MIR) is a DeFi protocol supported by smart contracts that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price movements of real-world assets and provide investors worldwide with open access to prices without the burden of owning and trading actual assets. The production of mAssets is decentralized, carried out by network users by opening a position or depositing collateral.
Mirror ensures that there is always enough collateral to cover mAssets within the protocol. It also manages markets by listing mAssets with the USDT trading pair on Terraswap. Mirror Token (MIR) is produced by the protocol. MIR is used as a reward to power operations that secure the ecosystem. Additionally, Mirror provides liquid mAsset markets by rewarding users who stake LP tokens obtained by providing liquidity with MIR rewards. Mirror is a project developed and managed by its community. The Mirror protocol is protected by its users through MIR incentives. In this context, the project is developed with an open-minded approach to new ideas through a democratic and fair governance path.
Mirror Protocol is a cross-chain DeFi protocol. It can interact with other decentralized applications on multiple blockchains. Terra Blockchain, built on Mirror Protocol, uses the Shuttle bridge to provide cross-chain transfers between Terra, Ethereum, and Binance Smart Chain. The Terra Bridge application provides a web interface for transferring tokens between different blockchains.
Where to Buy MIR Coin?
MIR Coin can be safely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. Mirror Protocol Coin is traded on the Binance platform in the MIR/BTC, MIR/BUSD, and MIR/USDT pairs. At the time of preparing this guide, MIR Coin is trading at $3.86.
To purchase MIR, you must first register on the Binance exchange. Upon completing the registration, you need to transfer cryptocurrency or fiat currency to your Binance account wallet. After completing the transfer, you can purchase MIR Coin from any of the three pairs mentioned above. To buy from the MIR/USDT trading pair, you should first go to the interface of this pair. In the limit tab, enter the amount you want to purchase in the specified area. After specifying the amount, complete the purchase by placing a Buy MIR order.
