# 合成资产协议用于跟踪真实世界资产。

## Mirror Protocol（MIR）概述

* Mirror Protocol 本质上是一个去中心化的金融（DeFi）协议，用户可以通过它铸造出能追踪底层资产在现实市场中价格的镜像资产（mAssets），从而让交易者能够接触到任何现实资产的价格变化。
* Mirror Protocol 还可以确保协议内有足够的抵押品来覆盖mAssets，并且能够管理mAssets的市场。
* Mirror Protocol 的原生加密货币和治理代币是 MIR 加密货币。
* MIR 作为一种加密货币，用于协议的治理、主要参数、挖矿、流动性提供奖励，甚至作为抵押品。
* Mirror Protocol 是基于 Terra 网络，并通过智能合约的使用来实现的，由 Terraform Labs（TFL）构建。

## 什么是 Mirror Protocol（MIR）？

Mirror Protocol 完全从头开始开发，旨在成为去中心化、基于区块链的协议，运营在 __[去中心化金融领域（DeFi）](https://www.investopedia.com/decentralized-finance-defi-5113835)__ 内，为用户提供工具以及功能，允许用户创建他们自己的合成资产，这些资产是现实世界中任意资产（如商品或股票）的代币化版本。

此外，通过 Mirror Protocol 创建的任何合成资产都被称为镜像资产或mAssets。

这些资产基本上反映了它们所代表的真实金融资产的价格，这就是项目命名的原因。

然而，每个人需要马上知道的是，Mirror Protocol 是托管在 Terra 区块链之上的。这使得项目能够跨链和多链操作，它可以在 __[BNB 智能链（BSC）](https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc)__ 以及 __[以太坊（ETH）](https://www.investopedia.com/terms/e/ethereum.asp)__ 网络上运行。

所有这些都是通过智能合约的使用实现的。

本项目的主要目标是让用户能够每天24小时、每周7天交易美国股票，这一操作可以在世界任何地方完成，从而大大降低了进入门槛，为几乎任何人提供了进入金融市场的便捷方式。

用户可以管理并交易代币化资产，通过创建合成资产而不必拥有它们所代表的股票或商品。

MIR 是协议的原生加密货币，在治理过程中的作用至关重要，可以通过质押获取投票权，并通过抵押债务头寸赚取费用分成。

### Mirror Protocol（MIR）如何使用？

Mirror Protocol 基于现已重新品牌化的 Terra 网络。

在我们讨论 Mirror Protocol 的功能之前，我们需要先看看 Terra 的现状。

__[Terra（LUNA）网络基本上崩溃了](https://www.cnbc.com/2022/05/13/cryptocurrency-luna-crashes-to-0-as-ust-falls-from-peg-bitcoin-rises.html)__，而其创始人 __[Do Kwon](https://www.forbes.com/profile/do-kwon/?sh=32d52e11da38)__ 在 LUNA 价格持续下跌一周后，推出了一个新复兴策略，称为“__[Terra 生态系统复兴计划2](https://twitter.com/terra_money/status/1528801782914514944)__”。

新链叫 Terra Classic，拥有 __[Luna Classic (LUNC)](https://www.binance.com/en/support/announcement/a94fd26ec68e44fcbf16f04812077dee)__ 代币。一旦 TerraUSD（UST）失去了美元挂钩，人们纷纷赎回 UST 以换取现金，增加了供应并降低了价格，导致 UST 崩溃，该加密货币不再活动。

在了解了 Mirror Protocol 是什么以及它最初是如何工作的情况下，请记住这些信息。

Mirror Protocol 由智能合约提供动力，它使全球不同背景的用户能够交易商品、股票或任何其他金融资产。Mirror Protocol 允许用户创建合成资产，这些资产直接反映了它们所代表的任何资产的实时和现实价值。

Terra 网络是一个基于区块链的去中心化协议，开发者可以创建去中心化金融（DeFi）软件、去中心化应用程序和协议。Terra 运行在基于 Tendermint 的 __[委托权益证明（DPoS）](https://academy.binance.com/en/articles/delegated-proof-of-stake-explained)__ 共识机制上，为 Mirror Protocol 提供了一个稳定的环境。

具体来说，Mirror Protocol 结合了 DPoS 和 Cosmos SDK 作为提供合成资产工具（即 mAssets）的方法。

用户可以在协议中创建一个头寸，从而创建反映现实资产价值的合成资产。用户只需存入抵押品，而系统可以调节抵押品供应，确保始终有资金来覆盖 mAssets 的价值。

Terraswap 是建立在 Terra 区块链之上的一个去中心化交易所，利用了受 __[Uniswap（UNI）](https://uniswap.org/)__ 启发的自动化市场做市（AMM）模型。不过，它已迁移到 Terra Classic，现在称之为 Terraswap Classic。

使用 __[Terraswap](https://terraswap.io/)__，人们可以在生态系统内用不同资产进行交易、提供流动性，并将其作为中心枢纽，交易其通过 Terra 生态系统内不同协议生成的资产。

需要记住的是，mAssets 市场在 Terraswap 平台上得到促进，在崩溃之前所有合成资产基本上都与 UST 挂钩，而后者是当时 Terra 的美元挂钩稳定币。

Mirror Protocol 还用于增加网络的流动性、交换以及其他操作。

系统还包括 Mirror 代币（MIR），它用来奖励那些保障网络安全的网络参与者。

## Mirror Protocol（MIR）的使用案例

在 Mirror Protocol 上创建的合成资产称为 mAssets。为了铸造或创建 mAsset，用户需要先向协议存入超过当前真实资产价值150%的抵押品。

当时，协议接受的抵押品是 TerraUSD（UST）这一通过 Terra 发行的稳定币，以及 mAssets。

当现实资产的价值超过最初存入的抵押品价值时，抵押品将被清算，以确保系统保持偿付能力。

如果用户想赎回其抵押品，他们需要先销毁分配给他们的 mAssets，也可以在自动化市场做市商（AMMs）如 Uniswap 和 Terraswap 上与流动资金池进行交互来交易 mAssets。

mAssets 可以24/7交易，但由于股票和债券作为其基础指数值，它们只能在现实市场营业时间内被铸造。

## Mirror Protocol（MIR）的可用性和主要特点

Mirror Protocol 宣布与 UniLend 建立合作伙伴关系，这是一种去中心化的货币市场协议，时间是在2021年1月。

Mirror Protocol 在这里将其关键的 mAssets 连接到 UniLend 的借贷协议，因此，mAssets 现在作为借贷的抵押品。为了生成利润，它们还可以通过流动性提供者（LPs）放置在 UniLend 的平台上。

这是合成股票首次在 DeFi 货币市场协议中作为抵押品。

然后我们在2021年6月25日看到了 V2 主网的发布。Mirror Protocol 在此基本上宣布了其网络的第2版，而新版本包括了额外的功能，这些功能增强了 V1 中的当前流程，并保证所有类别的用户都能为其在协议中的贡献获得奖励。

此外，活跃的投票者除了V2中的既有治理质押奖励外，还可以获得增强的投票奖励。对于想积极参与治理的用户，添加了弃权投票选项。

Mirror Protocol V2 还引入了一种名为 short LP（sLP）的新型不可交易加密货币，该代币在创建空头头寸时生成。这些 sLP 代币也是可质押的，并根据 Terraswap 和 Oracle 之间当前的价格溢价动态生成奖励。

### 协议

Mirror Protocol 通过去中心化预言机获取其代币代表的资产的价格数据，这些数据每30秒更新一次。Mirror Protocol 的 mAssets 软挂钩于价格
他们的真实世界对应物，这个锚定通过清算、治理和套利来维持。


当实际资产价格上涨时，清算就会发生，此时创建mAsset所抵押的资金未超过最低抵押比率的150％。在这种情况下，协议会出售抵押品以购买mAssets，直到比率再次达到最大值。

### Ledger

MIR加密货币具有两个主要功能。首先，MIR作为治理代币，使持有者能够对协议的任何变更进行投票。其次，MIR加密货币作为奖励分发给那些为自动化做市商（AMM）提供mAsset流动性的用户。

为了参与治理进程，用户需要质押他们的MIR并对网络的相关问题进行投票。如果他们向AMM提供mAsset流动性，也可以在Mirror协议上质押他们的流动性提供者（LP）代币以赚取以MIR计价的奖励。

### 智能合约支持

Mirror协议基于Terra网络，直接由智能合约驱动。这使得网络能够使全球任何地方的用户本质上进行商品、股票甚至其他类型金融资产的交易。

## Tokenomics & Supply Distribution

根据文档中发布的[官方tokenomics](https://docs.mirror.finance/protocol/mirror-token-mir#cumulative-distribution-schedule-in-millions)，Mirror协议在创世时共有5490万个代币。

当我们查看这些代币的分配情况时，它们分配如下：

* 16.66%（915万）代币空投给UNI持有者
* 16.66%（915万）代币空投给LUNA质押者
* 6.66%（3660万）代币分配给社区池

由于通胀，总供给在4年的时间内增加，直到总供给达到3.70575亿。

* 空投将占总代币供给的4.9%（1830万）
* 4.9%（1830万）分配给第一年内的LUNA质押者
* 45.1%（1.6727亿）代币将在第四年结束前分配给所有mAsset以及mAsset（mETH）质押池
* 0.4%（3860万）代币将在第四年结束前均匀分配给MIR-UST和MIR-UST（mETH）质押池
* 34.6%（1.281亿）总MIR供给将在四年结束前分配给社区池

在四年计划结束后，不会通过通胀再铸造更多的MIR代币。

## Team & History

Mirror协议由Terraform Labs (TFL)创建，这支团队也创建了Terra区块链，致力于构建整个Terra工具和应用生态系统。

有鉴于此，Terraform Labs在2020年12月推出了Mirror协议，旨在在Terra网络上创建价格稳定的流动性衍生资产。

当我们查看其原生加密货币时，MIR首次在Uniswap和Terraswap上发行，时间从2020年11月11日到12月4日。

## Activities & Community

根据[官方Mirror协议推特页面](https://twitter.com/mirror_protocol)，可以看到有超过110,900名追随者。

然后，当我们查看[官方Mirror协议电报群](https://t.me/mirror_protocol)，可以看到有超过7,500名成员。

### Development Activity and GitHub Repositories

根据[官方Mirror协议GitHub页面](https://github.com/mirror-protocol)，可以看到共有14个存储库。

其中四个被固定，包括：

* [Mirror.js](https://github.com/Mirror-Protocol/mirror.js) - 一个客户端SDK，用于构建可以在JavaScript运行时中与Mirror协议交互的应用
* [Mirrorcli](https://github.com/Mirror-Protocol/mirrorcli) - Terra上Mirror协议的命令行界面
* [Docs](https://github.com/Mirror-Protocol/docs) - Mirror网站的官方文档
* [Mirror-contracts](https://github.com/Mirror-Protocol/mirror-contracts) - 实现Terra区块链上Mirror协议核心智能合约的源代码

### On-Chain Activity

根据[Etherscan](https://etherscan.io/token/0x09a3EcAFa817268f77BE1283176B946C4ff2E608)，可以看到MIR具有最大总供给148,588,675.987673091714826435 MIR，拥有28,866个持有者和457,373次总转账。

### Activities and Partners

* [Mirror和UniLend合作](https://medium.com/mirror-protocol/mirror-unilend-partner-to-bring-first-synthetic-stocks-to-a-decentralized-lending-protocol-2063ace97010) - 这是一个战略合作关系，旨在将首批合成股票带入去中心化借贷协议
* [Mirror V2主网发布](https://medium.com/mirror-protocol/mirror-v2-mainnet-launch-9813b1e452d6) - 此升级带来了抵押率乘数、UST锁仓期、快照期、投票权重和溢价更新间隔的变化
* [Mirror社区更新 - 2021年6月](https://medium.com/mirror-protocol/mirror-community-update-june-2021-4d69f4e8972f) - 在这里，团队宣布了里程碑，包括Mirror Testnet、Mirror V2的推出，以及在Mirror治理中发布了100个提案
* [Mirror社区更新 - 2021年7月](https://medium.com/mirror-protocol/mirror-community-update-july-2021-a4288316410e) - 在这里，团队宣布了MIR代币在Kraken交易所、Bitfinex和WazirX的上市。另外，Polkadot、Square、AMD和ARKK也在Mirror上市。mHOOD在Mirror协议上被白名单列入，并在Mirror论坛上进行持续讨论。

## References & Reports

### References

* [Mirror和UniLend合作将首个合成股票带入去中心化借贷协议](https://medium.com/mirror-protocol/mirror-unilend-partner-to-bring-first-synthetic-stocks-to-a-decentralized-lending-protocol-2063ace97010)
* [Mirror V2主网发布](https://medium.com/mirror-protocol/mirror-v2-mainnet-launch-9813b1e452d6)
* [Mirror Documentation - 官方Tokenomics](https://docs.mirror.finance/protocol/mirror-token-mir#cumulative-distribution-schedule-in-millions)
* [官方Mirror协议推特页面](https://twitter.com/mirror_protocol)
* [官方Mirror协议电报群](https://t.me/mirror_protocol)
* [官方Mirror协议GitHub页面](https://github.com/mirror-protocol)
* [Mirror.js](https://github.com/Mirror-Protocol/mirror.js)
* [Mirrorcli](https://github.com/Mirror-Protocol/mirrorcli)
* [Docs](https://github.com/Mirror-Protocol/docs)
* [Mirror-contracts](https://github.com/Mirror-Protocol/mirror-contracts)
* [Mirror Community Update - 2021年6月](https://medium.com/mirror-protocol/mirror-community-update-june-2021-4d69f4e8972f)
* [Mirror Community Update - 2021年7月](https://medium.com/mirror-protocol/mirror-community-update-july-2021-a4288316410e)
* [关于Terra经典（LUNC）网络升级的通知](https://www.binance.com/en/support/announcement/a94fd26ec68e44fcbf16f04812077dee)
* [Terraswap](https://terraswap.io/)
* [Uniswap](https://uniswap.org/)
* [委托权益证明解释](https://academy.binance.com/en/articles/delegated-proof-of-stake-explained)
* [Terra生态系统复兴计划2](https://twitter.com/terra_money/status/1528801782914514944)
* [Do Kwon - Forbes](https://www.forbes.com/profile/do-kwon)
* [加密货币Luna下跌至0美元 因为UST进一步背离美元锚定 - CNBC](https://www.cnbc.com/2022/05/13/cryptocurrency-luna-crashes-to-0-as-ust-falls-from-peg-bitcoin-rises.html)
* [什么是以太坊及其工作原理 - Investopedia](https://www.investopedia.com/terms/e/ethereum.asp)
* [BNB Smart Chain(BSC)简介](https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc)
* [什么是区块链上的智能合约及其工作原理 - Investopedia](https://www.investopedia.com/terms/s/smart-contracts.asp)
* [什么是加密Synths？合成资产解释 - Shrimpy学院](https://academy.shrimpy.io/post/what-are-crypto-synths-synthetic-assets-explained)
* [去中心化金融(DeFi)定义 - Investopedia](https://www.investopedia.com/decentralized-finance-defi-5113835)

### Market Research

* [TradingView](https://www.tradingview.com/symbols/MIRUSD/)
* [Cryptorank](https://cryptorank.io/price/mirror-protocol/on-chain-activity)
* [Etherscan](https://etherscan.io/token/0x09a3EcAFa817268f77BE1283176B946C4ff2E608)

Mir Token

# The Synthetic Asset Protocol Utilizes to Track Real-World Assets.

## Mirror Protocol (MIR) Fact Sheet

* Mirror Protocol is essentially a decentralized finance (DeFi) protocol that provides users with an opportunity through which they can mint mirrored assets (mAssets) that can track an underlying asset's price in real-world markets, which in turn provides traders with access to price exposures of any real-world asset.
* Mirror Protocol can also ensure that there is sufficient collateral within the protocol to cover the mAssets, and it can even manage markets for mAssets.
* The native cryptocurrency and governance token behind Mirror Protocol is the MIR cryptocurrency.
* MIR, as a cryptocurrency, is used for the protocol's governance, major parameters, farming, liquidity provision rewards, and even collateral.
* Mirror Protocol is based on the Terra network, and it is powered through the usage of smart contracts and was built by Terraform Labs (TFL).

## What is Mirror Protocol (MIR)?

Mirror Protocol was developed from the ground up to be a decentralized, blockchain-based protocol for __[synthetic assets](https://academy.shrimpy.io/post/what-are-crypto-synths-synthetic-assets-explained)__ operating within the __[decentralized finance sector (DeFi)](https://www.investopedia.com/decentralized-finance-defi-5113835)__.


Furthermore, Mirro Protocol also provides tools as well as features that allow users to create their own synthetic assets which are tokenized versions of any assets in the real world, such as the commodities or stocks that can be found.


Furthermore, any of these synthetic assets that have been created through the Mirror Protocol get dubbed Mirrored Assets or mAssets.


These essentially reflect the price of the real-world financial assets that they represent, and this is why the project has been named in such a way.


However, what everyone needs to know right away is the fact that Mirror Protocol is hosted on top of the Terra blockchain. This is what essentially gave the project cross-chain and multi-chain operation access, where it became available on the __[BNB Smart Chain (BSC)](https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc)__ as well as the __[Ethereum (ETH)](https://www.investopedia.com/terms/e/ethereum.asp)__ network, where the Mirror protocol could function.


All of this was also made available through the utilization of __[smart contracts](https://www.investopedia.com/terms/s/smart-contracts.asp)__.


The main priority that this project has in store for users is to essentially enable them the ability to trade U.S. equities 24 hours every single day of the week, which is a procedure that can be completed from any point in the world, which significantly lowers the barrier of entry and accommodates for easy access to the financial markets for just about anyone.


Users can essentially manage and even trade tokenized assets through the creation of synthetic assets without owning the stock or commodity that they represent.


MIR is the native cryptocurrency behind the protocol that plays an integral role within the governance procedure and can be staked as a means of getting voting rights, where users can essentially earn a share of the fees from the collateralized debt positions.

### How is Mirror Protocol (MIR) Used?

Mirror protocol is based on the now-rebranded Terra Network.


Before we go over the functionality surrounding Mirror Protocol, we first need to look at the current state of Terra.


__[The Terra (LUNA) network essentially crashed](https://www.cnbc.com/2022/05/13/cryptocurrency-luna-crashes-to-0-as-ust-falls-from-peg-bitcoin-rises.html)__, and __[Do Kwon](https://www.forbes.com/profile/do-kwon/?sh=32d52e11da38)__, who is the founder of Terra (LUNA), launched a new revival strategy known as the “__[Terra Ecosystem Revival Plan 2](https://twitter.com/terra_money/status/1528801782914514944)__”, a week after the price of LUNA carried on to decline.


The new chain is called Terra Classic and has __[Luna Classic (LUNC)](https://www.binance.com/en/support/announcement/a94fd26ec68e44fcbf16f04812077dee)__ tokens. Once TerraUSD (UST) lost its dollar peg, people rushed to redeem their UST for cash, which increased the supply and dropped its price. It resulted in the crash of UST, and this cryptocurrency is no longer active.


Keep all of this in mind as you learn further about what Mirror Protocol is and how it initially worked.


With that out of the way, the Mirror Protocol is powered by smart contracts. This is essentially how the network enables users on a global scale and with different backgrounds to essentially trade commodities, stocks, or any other financial asset. Mirror Protocol allows users to create synthetic assets which are a direct reflection of the real-time and real-life value of any of the assets that they represent.


The Terra network is a blockchain-based, decentralized protocol, and it provides each developer the ability to create Decentralized Finance (DeFi) software, decentralized applications, and even protocols. Terra runs on a __[Delegated Proof of Stake (DPoS)](https://academy.binance.com/en/articles/delegated-proof-of-stake-explained)__ consensus mechanism based on Tendermint, which created a solid environment for the Mirror Protocol.


Specifically, MIrror Protocol made a combination of DPoS with the Cosmos SDK as a means of providing tools for synthetic assets, which are known as mAssets.


What happens here is that any user is provided with the opportunity to create synthetic assets that mirror the value of real-life assets through creating a position within the protocol. All the user needs to do later on is deposit collateral, while the system can regulate the collateral supply and ensure that there are always funds that can cover the value of the mAssets.


Terraswap was a decentralized exchange built on top of the Terra blockchain that utilized the automated market maker (AMM) model inspired by __[Uniswap (UNI)](https://uniswap.org/)__. However, it has migrated to Terra Classic and is now known as Terraswap Classic.


With __[Terraswap](https://terraswap.io/)__, people can trade, provide liquidity with different assets within the ecosystem, and essentially utilize it as a central hub through which they can trade their assets that are generated from different protocols within the Terra ecosystem.


With this in mind, the market for the aforementioned mAssets is facilitated on the Terraswap platform, and all synthetic assets were, at the time before its crash, essentially listed against UST, which was at the time Terra's dollar-pegged stablecoin.


Mirror Protocol was also used for adding liquidity to the network, swapping, as well as any other operations.


The system also includes the Mirror Token (MIR), which is utilized as a means of rewarding any network participants that secure the actual network.

## Use-Cases of Mirror Protocol (MIR)

Synthetic assets that were created on Mirror Protocol were known as mAssets. In order for a user to mint or create a mAsset, they would need to first deposit collateral to the protocol, which would account for more than 150% of the current value of the real-world asset.


At the time, the protocol accepted TerraUSD (UST), which was a stablecoin issued through Terra, alongside mAssets as collateral.


At the point in time when the value of the real-world assets increased to exceed the value of the collateral initially deposited, the collateral would be liquidated as a means of ensuring that the system would remain solvent.


If any user wanted to redeem their collateral, they would first need to burn the mAssets issued to them, and they would also trade mAssets through the process of interacting with liquidity pool on top of automated market makers (AMMs) such as Uniswap and Terraswap.


mAssets can be traded 24/7. However, they can only be mined during real-world market hours due to the fact that the stocks and the bonds serve as their underlying index value.

## Usability & Primary Features of Mirror Protocol (MIR)

Mirror Protocol made an announcement surrounding a __[partnership with UniLend](https://medium.com/mirror-protocol/mirror-unilend-partner-to-bring-first-synthetic-stocks-to-a-decentralized-lending-protocol-2063ace97010)__, which is a decentralized money market protocol, in January of 2021.


Mirror Protocol here managed to connect its key mAssets to UniLend’s lending protocol, and as a direct result of this, the mAssets now act as collateral for borrowing. In order for them to generate profit, they can also be placed within UniLend’s platform by liquidity providers (LPs).


Furthermore, this was the first time synthetic stocks were utilized as collateral within the DeFi money market protocol.


Then we saw the launch of the __[V2 Mainnet on June 25, 2021](https://medium.com/mirror-protocol/mirror-v2-mainnet-launch-9813b1e452d6)__. Here, Mirror Protocol essentially announced version 2 of its network, and this new version included additional features that enhanced the current processes in V1 and ensured that all classes of users were rewarded for any of their contributions within the protocol.


Furthermore, active voters were eligible for enhanced voting awards in addition to the existing governance staking rewards in V2. An abstain vote option got added for users who wanted to engage actively in the governance.


Mirror Protocol V2 also introduced a new non-tradable cryptocurrency called short LP (sLP) which is generated whenever a short position is created. These sLP tokens are also stakeable, and they create a reward that changes dynamically depending on the current price premium between Terraswap and Oracle.

### Protocol

Mirror Protocol gets price data on the assets that its tokens represent through the utilization of decentralized oracles, all of which update throughout the span of 30 seconds. Mirror Protocol's mAssets are soft-pegged to the price of their real-world counterparts, where this peg is maintained by mining liquidations, governance, and arbitrage.


A liquidation takes place at the point in time when the price of a real asset rises, where the collateral deposited to create the mAsset does not exceed the minimum collateralization ratio of 150%. Here, the protocol sells the collateral to buy the mAssets until the ratio reaches its maximum again.

### Ledger

The MIR cryptocurrency features two main functionalities. First, MIR acts as a governance token and enables holders to vote on any changes to the protocol. Second, the MIR cryptocurrency gets distributed as a reward to those users that provide mAsset liquidity to automated market makers (AMMs).


In order for a user to participate in the governance process, they need to stake their MIR and vote on any issues surrounding the network. If they provide mAsset liquidity to an AMM, they can also stake their liquidity provider (LP) tokens on Mirror Protocol to earn rewards denominated in MIR.

### Smart-Contract Support

Mirror Protocol is based on the Terra network, and it is directly powered by smart contracts. This is how the network can enable users from anywhere in the world to essentially trade commodities, stocks, and even other types of financial assets.

## Tokenomics & Supply Distribution

When we go over the __[official tokenomics](https://docs.mirror.finance/protocol/mirror-token-mir#cumulative-distribution-schedule-in-millions)__ posted in its documentation,  there were a total of 54.9 million tokens at the genesis of Mirror Protocol.


When we look at the distribution of these tokens, they were distributed as follows:

* 16.66% (9.15M) tokens were airdropped to UNI holders
* 16.66% (9.15M) of tokens were airdropped to LUNA stakers.
* 6.66% (36.6M) of tokens were allocated to the community pool.

The total supply of MIR tokens increases within the span of 4 years due to inflation until the total supply reaches 370.575 million.

* The airdrop will feature 4.9% (18.3M) of the total token supply.
* 4.9% (18.3M) were distributed to LUNA stakers throughout the first year
* 45.1% (167.27M) tokens will be distributed to all mAsset and mAsset (mETH) staking pools by the end of the fourth year.
* 0.4% (38.6M) tokens will be evenly distributed to MIR-UST and MIR-UST (mETH) staking pools by the end of the fourth year.
* 34.6% (128.1M) of the total MIR supply will be distributed to the Community Pool by the end of the fourth year.

After the end of the 4-year plan, no more MIR tokens will be minted through inflation.

## Team & History

Mirror Protocol was created by Terraform Labs (TFL), which is the same team that created the Terra blockchain and is dedicated to building out the entire Terra tooling as well as the application ecosystem.


With that in mind, Terraform Labs launched Mirror Protocol in December 2020 as a means of creating price-stable liquid derivative assets on the Terra Network.


When we go over its native cryptocurrency, MIR was first issued on Uniswap and Terraswap from November 11 to December 4, 2020.

## Activities & Community

When we go over the __[Official Mirror Protocol Twitter page](https://twitter.com/mirror_protocol)__, we can see that there are over 110,900 followers.


Then, when we take a look at the __[Official Mirror Protocol Telegram group](https://t.me/mirror_protocol)__, we can see that there are over 7,500 members.

### Development Activity and GitHub Repositories

When we go over the __[Official Mirror Protocol GitHub page](https://github.com/mirror-protocol)__, we can see that there are a total of 14 repositories.


Out of them, four are pinned, including:

* __[Mirror.js](https://github.com/Mirror-Protocol/mirror.js)__ - a client SDK for building applications that can interact with Mirror Protocol from within JavaScript runtimes
* __[Mirrorcli](https://github.com/Mirror-Protocol/mirrorcli)__ - the command-line interface for Mirror Protocol on Terra.
* __[Docs](https://github.com/Mirror-Protocol/docs)__  - the official documentation for the Mirror site.
* __[Mirror-contracts](https://github.com/Mirror-Protocol/mirror-contracts)__ - the source code for the core smart contracts implementing Mirror Protocol on the Terra blockchain.

### On-Chain Activity

According to __[Etherscan](https://etherscan.io/token/0x09a3EcAFa817268f77BE1283176B946C4ff2E608)__, we can see that there is a max total supply of 148,588,675**.**987673091714826435 MIR, with 28,866 holders and 457,373 total transfers.

### Activities and Partners

* __[Mirror and UniLend Partner](https://medium.com/mirror-protocol/mirror-unilend-partner-to-bring-first-synthetic-stocks-to-a-decentralized-lending-protocol-2063ace97010)__ - This was a strategic partnership intended to bring the first Synthetic Stocks to a Decentralized Lending Protocol
* __[Mirror V2 Mainnet Launch](https://medium.com/mirror-protocol/mirror-v2-mainnet-launch-9813b1e452d6)__ - an upgrade that brought Collateral Ratio Multiplier, UST Lock-up Period, Snapshot Period, Voter Weight, and Premium Update Interval changes.
* __[Mirror Community Update — June 2021](https://medium.com/mirror-protocol/mirror-community-update-june-2021-4d69f4e8972f)__  here, the team announced milestones, with the launch of the Mirror Testnet, Mirror V2, and where they reached a Mirror governance milestone of 100 polls posted.
* __[Mirror Community Update — July 2021](https://medium.com/mirror-protocol/mirror-community-update-july-2021-a4288316410e)__ - here, the team announced the listing of the MIR token on Kraken Exchange, Bitfinex, and WazirX. Additionally, Polkadot, Square, AMD, and ARKK are listed on Mirror. mHOOD got whitelisted on the Mirror Protocol, and there are ongoing discussions on the Mirror Forum.

## References & Reports

### References

* __[Mirror and UniLend Partner To Bring First Synthetic Stocks to a Decentralized Lending Protocol](https://medium.com/mirror-protocol/mirror-unilend-partner-to-bring-first-synthetic-stocks-to-a-decentralized-lending-protocol-2063ace97010)__
* __[Mirror V2 Mainnet Launch](https://medium.com/mirror-protocol/mirror-v2-mainnet-launch-9813b1e452d6)__
* __[Mirror Documentation - Official Tokenomics](https://docs.mirror.finance/protocol/mirror-token-mir#cumulative-distribution-schedule-in-millions)__
* __[Official Mirror Protocol Twitter page](https://twitter.com/mirror_protocol)__
* __[Official Mirror Protocol Telegram group](https://t.me/mirror_protocol)__
* __[Official Mirror Protocol GitHub page](https://github.com/mirror-protocol)__
* __[Mirror.js](https://github.com/Mirror-Protocol/mirror.js)__
* __[Mirrorcli](https://github.com/Mirror-Protocol/mirrorcli)__
* __[Docs](https://github.com/Mirror-Protocol/docs)__
* __[Mirror-contracts](https://github.com/Mirror-Protocol/mirror-contracts)__
* __[Mirror Community Update — June 2021](https://medium.com/mirror-protocol/mirror-community-update-june-2021-4d69f4e8972f)__
* __[Mirror Community Update — July 2021](https://medium.com/mirror-protocol/mirror-community-update-july-2021-a4288316410e)__
* __[Notice Regarding the Terra Classic (LUNC) Network Upgrade](https://www.binance.com/en/support/announcement/a94fd26ec68e44fcbf16f04812077dee)__
* __[Terraswap](https://terraswap.io/)__
* __[Uniswap](https://uniswap.org/)__
* __[Delegated Proof of Stake Explained](https://academy.binance.com/en/articles/delegated-proof-of-stake-explained)__
* __[Terra Ecosystem Revival Plan 2](https://twitter.com/terra_money/status/1528801782914514944)__
* __[Do Kwon - Forbes](https://www.forbes.com/profile/do-kwon)__
* __[Cryptocurrency luna crashes to $0 as UST falls further from dollar peg - CNBC](https://www.cnbc.com/2022/05/13/cryptocurrency-luna-crashes-to-0-as-ust-falls-from-peg-bitcoin-rises.html)__
* __[What Is Ethereum and How Does It Work? - Investopedia](https://www.investopedia.com/terms/e/ethereum.asp)__
* __[An Introduction to BNB Smart Chain (BSC)](https://academy.binance.com/en/articles/an-introduction-to-binance-smart-chain-bsc)__
* __[What Are Smart Contracts on the Blockchain and How They Work - Investopedia](https://www.investopedia.com/terms/s/smart-contracts.asp)__
* __[What Are Crypto Synths? Synthetic Assets Explained - Shrimpy Academy](https://academy.shrimpy.io/post/what-are-crypto-synths-synthetic-assets-explained)__
* __[Decentralized Finance (DeFi) Definition - Investopedia](https://www.investopedia.com/decentralized-finance-defi-5113835)__

### Market Research

* __[TradingView](https://www.tradingview.com/symbols/MIRUSD/)__
* __[Cryptorank](https://cryptorank.io/price/mirror-protocol/on-chain-activity)__
* __[Etherscan](https://etherscan.io/token/0x09a3EcAFa817268f77BE1283176B946C4ff2E608)__


