Mirror Protocol is a platform that gives crypto traders access to traditional financial assets. Through Mirror’s smart contracts, users can mint tokenized, “synthetic” versions of assets—like shares of Tesla or Apple—that can be traded over its decentralized network. As with other decentralized finance (DeFi) projects, Mirror Protocol aims to replace centralized intermediary institutions, remove barriers and increase accessibility to the market. Stock exchanges and brokerages have strict restrictions on who can use their services. Mirror, on the other hand, gives anyone the ability to trade in these assets, no matter where they live or whether they have a bank account. Furthermore, since Mirror Protocol’s synthetic Mirrored assets (mAssets) are tokens on a blockchain, they can be subdivided into smaller, more affordable parts. If a user wants to trade only $10 worth of a much more expensive asset (like a $100 share), they can. This is called fractional ownership, and although it’s becoming more common among established brokerages, it requires more resources than tokenized stocks. Assets that have been tokenized on Mirror include stocks like Microsoft (mMSFT), exchange traded funds (ETFs) like Invesco QQQ Trust (mQQQ), and other cryptocurrencies like bitcoin (mBTC) and Ether (mETH). These mAssets can be actively traded on Mirror Protocol, and can also be staked or deposited into liquidity pools to generate additional returns for users in the form of MIR tokens.
