Hello, I’m a community member from the Mirror Protocol ecosystem. I’m posting today regarding support for the following synthetic assets from Mirror (mAssets):
- mTSLA: https://etherscan.io/token/0x21ca39943e91d704678f5d00b6616650f066fd63
- mTWTR: https://etherscan.io/token/0xedb0414627e6f1e3f082de65cd4f9c693d78cca9
- mVIXY: https://etherscan.io/token/0xf72fcd9dcf0190923fadd44811e240ef4533fc86
- mIAU: https://etherscan.io/token/0x1d350417d9787e000cc1b95d70e9536dcd91f373
- mMSFT: https://etherscan.io/token/0x41bbedd7286daab5910a1f15d12cbda839852bd7
I chose these specific mAssets to start with because these are the top 5 mAssets by liquidity on Ethereum (Source: https://info.uniswap.org/token/0xa47c8bf37f92abed4a126bda807a7b7498661acd). They also represent a mix of different asset types: US equities (TSLA, TWTR, MSFT), commodities (IAU), and ETF (VIXY).
Each of these assets have UST pairs on Uniswap with ~17M of liquidity, which I believe is more than sufficient.
- I believe creating borrow/lend markets for these equity synthetic assets would be extremely interesting; it would allow CREAM to “look outward” and provide a use case outside of pure crypto assets
- These assets are the most liquid of all mAssets, and I believe sufficient time has passed for Mirror Protocol to prove its resilience (5 months)
- Support of these assets will expand the TVL of CREAM
- If this proves to be successful, it will open up the floodgates for borrowing/lending of synthetics, and would position CREAM as the leading protocol in this arena
mAssets are synthetic assets from Mirror Protocol (https://mirror.finance/). Mirror is a DeFi protocol powered by smart contracts on the Terra network that enables the creation of synthetic assets called Mirrored Assets (mAssets). mAssets mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets.
At the time of this writing, Mirror has $2B in value locked within the protocol, and does ~$40M in daily volume. Mirror Assets are live on the Terra blockchain, Ethereum, and Binance Smart Chain.