MIR (Mirror Protocol) Introduction
1. Brief Introduction
Mirror Protocol is a synthetic asset issuance platform built on the Terra blockchain (Cosmos SDK) that launched on December 3rd, 2020. MIR is Mirror Protocol's governance token.
2. Detailed Introduction
The Mirror Token (MIR) is Mirror Protocol's governance token. Currently, it must be staked to vote on active polls and is required as a deposit for making new governance polls. In future iterations of Mirror, it will serve further purposes for the protocol that increase its utility and value.
Users that stake MIR tokens also earn MIR rewards generated from withdrawing collateral from CDP positions within the protocol.
MIR is also used to incentivize users to farm yields by staking LP tokens which were minted by providing liquidity for MIR and mAssets. Yield is paid to the users from MIRs that are newly minted through annual inflation, which gradually increases the total supply of MIR until the end of 4th year.
3. Token Allocation
mAsset LP Staking: 167.2734 million
Community Pool: 128.10 million
MIR LP Staking: 38.5398 million
Airdrop: 18.30 million
Luna Staking Reward:18.30 million
4. Token Information and Release Schedule ( Only provide when available)
1) Total Supply: 114,842,807 MIR
2) Circulating Supply: 27,875,390 MIR
mAsset LP Staking: 45.1% of the token supply will be distributed to all mAsset and mAsset (mETH) staking pools by the end of year 4.
Community Pool: 34.6% of the total MIR supply will be distributed to the Community Pool by the end of year 4.
MIR LP Staking: 10.4% of the token supply will be evenly distributed to MIR-UST and MIR-UST (mETH) staking pools by the end of year 4.
Airdrop: The airdrop amount which was originally distributed to UNI holders and LUNA stakers will now account for 4.9% of the total token supply.
Luna Staking Reward: 4.9% will be distributed to LUNA stakers throughout the first year since the launching of Mirror Protocol.
5. Related Links
Official Website: https://mirror.finance/
Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. Huobi does not take responsibility for any resulting direct or indirect losses.